Daily Current Affairs (DCA) 12,13&14 March, 2026

Daily Current Affairs Quiz
12, 13 & 14 March, 2026

National Affairs

1. Fiscal Health Index (FHI) 2026

Source: Mint

Context:

The NITI Aayog released the second annual edition of the Fiscal Health Index, assessing the fiscal performance of Indian states for FY 2023–24.

What is the Fiscal Health Index?

The Fiscal Health Index (FHI) is a framework designed to evaluate and compare the fiscal health of Indian states.
Unlike simple deficit measures, it provides a multi-dimensional assessment of fiscal sustainability, revenue strength, and debt management.

Core Pillars of the Index

The FHI evaluates states based on five key pillars:

1. Quality of Expenditure
   • Share of developmental and capital spending compared to committed expenditure.
2. Revenue Mobilisation
   • Capacity of states to generate own tax and non-tax revenues.
3. Fiscal Prudence
   • Management of deficits and compliance with Fiscal Responsibility and Budget Management Act norms.
4. Debt Index
   • Assessment of the size and burden of outstanding liabilities.
5. Debt Sustainability
   • Long-term ability of states to service debt without fiscal stress.

State Rankings (FY 2023–24)

Top Performing States

1. Odisha – Rank 1 (Score: 73.1)
2. Goa – Rank 2 (Score: 54.7)
3. Jharkhand – Rank 3 (Score: 50.5)
4. Gujarat – Rank 4
5. Maharashtra – Rank 5

Bottom Performing States

• Punjab – Rank 18
• Andhra Pradesh – Rank 17
• West Bengal – Rank 16
• Kerala – Rank 15

Key Findings of the Report

1. Expanded Coverage

• The index now includes 10 North-Eastern and Himalayan states, acknowledging their geographic and structural fiscal challenges.
• Arunachal Pradesh emerged as the top performer among these states.

2. Strong Performance by Odisha

• Maintained leadership due to stable revenues, controlled deficits, and better fiscal management.

3. Fiscal Stress in Some States

States like Punjab, Kerala, and West Bengal face challenges due to:

• High debt levels
• Rising deficits
• Slower revenue growth.

4. Shift Toward Capital Expenditure

• Many states are increasingly focusing on capital spending and social sector investments.

5. Macro-Fiscal Importance

• State finances account for about one-third of India’s general government debt, making their fiscal health crucial for national economic stability.

Key Fiscal Challenges

1. High Committed Expenditure

• Salaries, pensions, and interest payments limit developmental spending.
• Example: In Punjab, committed expenditure reached 80% of revenue receipts in FY24.

2. Weak Own Revenue Mobilisation

• Heavy reliance on central transfers.
• Example: In Bihar, own revenues contribute less than one-third of total receipts.

3. Fiscal Deficit Breaches

• Example: Andhra Pradesh recorded a fiscal deficit of 4.35% of GSDP, exceeding the FRBM ceiling.

4. Rising Interest Burden

• Example: West Bengal spends over 20% of revenue receipts on debt servicing.

5. Geographic Constraints

• Example: Himachal Pradesh faces high infrastructure costs due to mountainous terrain.

2. Jal Jeevan Mission 2.0

Source: TH

Context:
The Union Cabinet of India has approved the restructuring and extension of the Jal Jeevan Mission until 2028, marking the beginning of JJM 2.0 to further improve rural water supply systems.

Background

Launched in 2019 by the Ministry of Jal Shakti, Jal Jeevan Mission aims to provide functional household tap connections (FHTCs) to every rural household under the “Har Ghar Jal” initiative.

Progress so far:

• 2019: 32.3 million rural households had tap water (≈17%).
• 2026: About 158 million households now have tap water access.
• Coverage now exceeds 81% of the 193.6 million rural households identified by states.

Financial Outlay

• Total outlay (JJM 2.0): ₹8.69 trillion
• Central government share: ₹3.59 trillion
• Earlier central assistance approved in 2019–20: ₹2.08 trillion.

Key Features of JJM 2.0

1. Digital Monitoring Framework
   • Introduction of Sujalam Bharat, a national digital platform.
   • Every village will receive a unique service-area ID.
   • Water supply will be tracked from source to household tap.
2. Local Governance and Accountability
   • Greater role for Gram Panchayats and village water committees in operation and maintenance (O&M).
   • Initiatives like Jal Utsav will encourage community monitoring and participation.
3. Utility-Based Approach
   • The mission is shifting from connection-focused expansion to reliable service delivery.

3. Pradhan Mantri Matsya Sampada Yojana (PMMSY)

Source: PIB

Context:

The Union Government has allocated ₹2,500 crore for the fisheries sector under the Pradhan Mantri Matsya Sampada Yojana in the Union Budget 2026–27.

What is PM Matsya Sampada Yojana?

• PMMSY is a flagship scheme aimed at the sustainable development of India’s fisheries sector.
• Launched: 10 September 2020.
• Implemented by: Department of Fisheries under the Ministry of Fisheries Animal Husbandry and Dairying.

Objectives

• Increase fish production and productivity sustainably.
• Modernise fisheries infrastructure and value chains.
• Improve income and livelihoods of fishers and fish farmers.
• Promote sustainable and responsible fisheries management.

Key Features

1. Large Investment Framework

• Approved with a total investment of about ₹20,050 crore for comprehensive fisheries sector development.

2. Implementation Components

• Operates through two components:
  • Central Sector (CS)
  • Centrally Sponsored Scheme (CSS).

3. Infrastructure Development

• Development of:
  • Fishing harbours
  • Fish landing centres
  • Cold-chain infrastructure
  • Fish processing and storage facilities.

4. Aquaculture Promotion

Support for modern aquaculture activities such as:

• Biofloc farming
• Sea cage farming
• Seaweed cultivation
• Ornamental fisheries
• Pearl farming.

5. Fisher Welfare

• Financial support for boats, fishing gear, and insurance.
• Assistance during fishing ban periods.

6. Sustainable Fisheries Management

• Promotion of artificial reefs, mariculture, and ecosystem restoration to replenish fish stocks.

4. Supreme Court Applies Passive Euthanasia Framework for First Time

Source: Indian Express

Context:

The Supreme Court of India applied its passive euthanasia framework for the first time to permit the withdrawal of life-sustaining treatment for Harish Rana, who had remained in a persistent vegetative state for 13 years.

What is Euthanasia?

Euthanasia refers to intentionally ending a person’s life to relieve suffering, often called “mercy killing.”

Types of Euthanasia

1. Active Euthanasia
   • Involves a deliberate act to cause death (e.g., lethal injection).
   • Illegal in India.
2. Passive Euthanasia
   • Involves withholding or withdrawing life-sustaining treatment such as ventilators or feeding tubes.
   • Permitted in India under strict judicial guidelines.

Evolution of Euthanasia Law in India

1. P. Rathinam v. Union of India (1994)

• The Court initially held that the right to life includes the right to die, effectively decriminalising suicide.

2. Gian Kaur v. State of Punjab

• Overturned the earlier ruling.
• Held that Article 21 does not include the right to die, but recognised the idea of dying with dignity.

3. Aruna Shanbaug Case

• Allowed passive euthanasia for the first time under strict conditions with High Court approval.

4. Common Cause v. Union of India

• Recognised Right to Die with Dignity as a fundamental right under Article 21.
• Legalised Living Wills (Advance Medical Directives).

5. 2023 Supreme Court Guidelines

• Simplified procedures by removing the requirement of a Judicial Magistrate’s countersignature for living wills.

5. Bug Bounty Programme

Source: PIB

Context:

The Unique Identification Authority of India has launched its first structured Bug Bounty Programme to strengthen the cybersecurity of the Aadhaar ecosystem.

What is a Bug Bounty Programme?

A Bug Bounty Programme is a cybersecurity initiative where organisations invite ethical hackers and security researchers to identify vulnerabilities in their digital systems.
Participants are rewarded for responsibly reporting security flaws before they can be exploited by malicious actors.

Objective

• Strengthen the security and resilience of digital platforms.
• Encourage responsible disclosure of vulnerabilities.
• Enhance trust in large public digital systems such as Aadhaar.

6. Jal Jeevan Mission (JJM)

Source: The Hindu

Context:

The Union Cabinet of India has approved the extension of the Jal Jeevan Mission until 2028, with a renewed focus on sustained water service delivery rather than just infrastructure creation.

What is Jal Jeevan Mission?

• Jal Jeevan Mission is a flagship initiative aimed at providing safe and adequate drinking water through Functional Household Tap Connections (FHTC) to all rural households in India.
• Launched: 15 August 2019.
• Nodal Ministry: Ministry of Jal Shakti.

Aim

• Achieve “Har Ghar Jal” by ensuring 55 litres of water per person per day (lpcd) through tap connections for every rural household.
• The revised deadline for universal coverage is December 2028.

7. India Co-Sponsors UNSC Resolution Against Iran

Source: TOI

Context:

India co-sponsored a resolution at the United Nations Security Council calling for the immediate cessation of attacks by the Iran on Gulf countries amid the ongoing West Asia conflict.

Key Features of the Resolution

• The resolution was introduced by the Gulf Cooperation Council and supported by 134 countries.
• It demanded the immediate halt to Iranian attacks on GCC countries, including:
  • Bahrain
  • Kuwait
  • Oman
  • Qatar
  • Saudi Arabia
  • United Arab Emirates
  • Jordan
• The resolution also condemned any attempt by Iran to block or disrupt navigation through the Strait of Hormuz.

Voting Outcome

• 13 UNSC members voted in favour.
• Russia and China abstained.

India’s Position

According to the Ministry of External Affairs, India supported the resolution because:

• Around 10 million Indians live and work in GCC countries, making their safety a major concern.
• The Gulf region is crucial for India’s energy security, supplying:
  • About 50% of India’s crude oil imports
  • Around 90% of liquefied petroleum gas (LPG) imports.

Banking/Finance

1. RBI Seeks Data on Banks’ Exposure to the Middle East

Source: FE

Context:

The Reserve Bank of India (RBI) has asked Indian banks to provide detailed information about their financial exposure to Middle Eastern countries. This move comes amid rising geopolitical tensions and economic uncertainty in the region.

The regulator’s objective is risk assessment and financial stability, ensuring that any potential shocks from the region do not adversely affect India’s banking system.

What Exactly the RBI Has Asked Banks to Report

The RBI has asked banks to submit granular (detailed) data covering multiple types of exposure:

1. Direct Loan Exposure

Banks must report loans given to companies operating in Middle Eastern countries such as UAE, Qatar, and Oman.

2. Indirect Exposure

This includes lending to Indian companies that operate or trade extensively with the Middle East, even if the loans were issued in India.

3. Contingent Liabilities

Banks must also disclose non-fund-based commitments, such as:

• Bank guarantees
• Letters of credit (LCs)
• Trade finance commitments

These obligations may not immediately appear as loans but can become liabilities during financial stress.

Current Exposure of Indian Banks

According to research by the State Bank of India (SBI):

• Exposure to Qatar: $2.25 billion
• Exposure to UAE: $7 billion
• Exposure to Oman: $800 million

These figures highlight that Indian banks have substantial financial linkages with Gulf economies.

Importance of the Gulf Region for India

The Middle East—particularly GCC countries—is economically critical for India.

Trade Dependence

• 13.06% of India’s exports go to GCC countries.
• 16.18% of India’s imports come from the region (Apr–Dec 2025).

Other West Asian countries account for:

• 2.03% of exports
• 3.94% of imports

Other Economic Linkages

The region is important for:

• Crude oil imports
• Remittances from Indian workers
• Indian corporate investments and projects

Any disruption in the region could therefore affect trade flows, banking exposure, and foreign exchange inflows.

Why RBI is Conducting This Exercise

Although the RBI has not flagged any immediate risk, the move is precautionary. The central bank wants to:

1. Assess systemic exposure of Indian banks.
2. Identify sectors vulnerable to geopolitical tensions.
3. Prepare for potential stress scenarios such as trade disruptions or payment defaults.
4. Ensure banks strengthen due diligence and risk management.

This reflects the RBI’s broader strategy of proactive financial supervision.

2. RBI May Maintain Prolonged Policy Pause

Source: Financial Express

Context:

Economists expect the Reserve Bank of India to keep policy interest rates unchanged in the upcoming monetary policy review, adopting a cautious wait-and-watch approach amid global geopolitical tensions and uncertain macroeconomic conditions.

Current Monetary Policy Position

• In the February 2026 monetary policy review, the RBI kept the repo rate unchanged at 5.25%.
• The central bank maintained a neutral policy stance, allowing flexibility to respond to future economic developments.

Why Economists Expect a Policy Pause

1. Geopolitical Uncertainty
   • The ongoing West Asia conflict has created volatility in global commodity and energy prices.
   • Sharp fluctuations in crude oil prices—from around $120 per barrel to nearly $81—have increased uncertainty for policymakers.
2. Supply-Side Inflation Risks
   • The crisis mainly affects supply chains and energy markets, rather than domestic demand.
   • Tightening policy could slow economic growth without effectively addressing supply-driven inflation.
3. Balanced Growth–Inflation Outlook
   • Policymakers must balance inflation risks from rising oil prices with the need to support economic growth.

Liquidity Management by RBI

The RBI has taken steps to maintain adequate liquidity in the financial system:

• Conducted Open Market Operations (OMO) worth ₹50,000 crore on March 9.
• Scheduled another ₹50,000 crore OMO purchase to stabilize bond markets and ease liquidity pressures.

These measures aim to counter liquidity drains caused by:

• Foreign exchange interventions
• Maturing FX forwards
• Advance tax and GST outflows.

3. Central Bank of India Partners with IIFL Finance for Co-Lending

Source: Financial Express

Context:

The Central Bank of India has entered into a co-lending partnership with IIFL Finance to expand credit access and offer loans at competitive interest rates under the guidelines of the Reserve Bank of India.

What is the Co-Lending Arrangement?

Co-lending is a model where banks and non-banking financial companies (NBFCs) jointly provide loans to borrowers by combining their strengths:

• Banks provide lower-cost funds.
• NBFCs contribute last-mile customer reach and loan origination capabilities.

This framework operates under the Co-Lending Arrangements (CLA) guidelines issued by RBI, revised in November 2025.

Key Features of the Partnership

• Loan Origination: IIFL Finance will source and originate loan proposals through its retail network.
• Joint Credit Assessment: Both lenders will evaluate loan applications based on jointly defined credit parameters.
• Blended Interest Rate: Borrowers will receive loans at competitive blended rates due to combined lending.
• Loan Servicing: IIFL Finance will manage loan servicing and customer interaction during the loan lifecycle.

4. Fixed Tenures May Be Introduced for Upper-Layer NBFC Chiefs

Source: Business Standard

Context:

The government and the Reserve Bank of India are considering introducing fixed tenures for top executives of upper-layer non-banking financial companies (NBFCs) as part of governance reforms.

RBI’s Scale-Based Regulation (SBR)

The proposal aligns with RBI’s four-tier Scale-Based Regulation framework for NBFCs, which aims to strengthen oversight and reduce regulatory arbitrage between banks and NBFCs.

The four layers are:

• Base Layer: NBFCs with assets up to ₹1,000 crore
• Middle Layer: NBFCs with assets above ₹1,000 crore
• Upper Layer: Systemically important NBFCs identified by RBI
• Top Layer: Reserved for NBFCs posing significant systemic risk

Proposed Governance Changes

1. Fixed Tenure for Leadership
   • Senior executives of upper-layer NBFCs may be given fixed tenures similar to private bank CEOs.
2. Additional Whole-Time Directors
   • Upper-layer NBFCs may be required to appoint at least two whole-time directors (WTDs) in addition to the Managing Director (MD) and Chief Executive Officer (CEO).
3. Succession Planning
   • Similar to private banks, NBFCs may need structured succession plans to ensure leadership continuity.

Existing RBI Rules for Banks

• In April 2021, the RBI capped the tenure of MDs and CEOs of private banks at 15 years, with a maximum age limit of 70 years.
• This policy forced banks to strengthen governance structures and leadership planning.

5. Employees’ Pension Scheme (EPS), 2026

Source: The Hindu

Context:

The Employees’ Provident Fund Organisation has approved the Employees’ Pension Scheme (EPS), 2026, which removes the earlier provision allowing employees to opt for pension on higher salary beyond the wage ceiling.

Background

The revision of the pension scheme was undertaken to align it with the Code on Social Security 2020, which came into force in November 2025.

The decision was taken by the Central Board of Trustees (CBT) of EPFO during its meeting chaired by Mansukh Mandaviya.

Removal of Higher Pension Clause

• The earlier Paragraph 11(4) of the Employees’ Pension Scheme 1995 allowed employees and employers to opt for pension contributions on wages exceeding the ₹15,000 monthly wage ceiling.
• The option had to be exercised within one year of the 2014 amendment to the scheme.

Employees’ Pension Scheme (EPS), 1995

The Employees’ Pension Scheme (EPS) is a social security scheme that provides pension benefits to employees in the organised sector after retirement. It is administered by the Employees’ Provident Fund Organisation (EPFO) under the Ministry of Labour and Employment.

About the Employees’ Pension Scheme (EPS)

• Launched: 1995
• Administered by: EPFO
• Coverage: Employees who are members of the Employees’ Provident Fund (EPF).

EPS provides monthly pension after retirement, disability, or to family members in case of the employee’s death.

6. SEBI Sets Rules for Intraday Borrowings by Mutual Funds

Source: News Reports

Context:

The Securities and Exchange Board of India has introduced new conditions governing intraday borrowings by mutual funds, effective April 1, 2026.

Key Provisions

Purpose of Intraday Borrowing

Mutual funds can borrow funds during the day only for specific purposes, including:

• Redemption payouts to investors
• Repurchase of mutual fund units
• Payment of interest or income distribution to unitholders

Limit on Borrowed Amount

• The borrowing amount cannot exceed guaranteed receivables expected on the same day.
• These receivables may come from entities such as:
  • Government bodies
  • Clearing corporations involved in market settlements

Rule for Index Funds and ETFs

The regulator also clarified that:

• Exchange Traded Fund and equity-oriented index funds may borrow funds if sell trades remain under-executed during the closing auction session on stock exchanges.

Objective

The new rules aim to:

• Ensure liquidity management for mutual funds.
• Prevent misuse of short-term borrowing for speculative purposes.
• Strengthen investor protection and market stability.

Agriculture

1. Centre Approves Extension of Bhavantar Scheme to Mustard in Madhya Pradesh

Source: Business Standard

Context:

The central government has approved a proposal from the Madhya Pradesh to extend the Bhavantar Bhugtan Yojana to mustard procurement, aiming to protect farmers from falling market prices.

About Bhavantar Bhugtan Yojana (BBY)

• BBY is a Price Deficiency Payment Scheme (PDPS).
• It compensates farmers when market prices fall below government benchmark prices (MSP).
• Farmers sell their produce in the open market, and the government pays the difference between MSP and market price directly.

Background

• Madhya Pradesh first implemented BBY in 2017 for soybean during the tenure of Shivraj Singh Chouhan as Chief Minister.
• The scheme was revived in 2025 with revised norms under the current state government.

2. GI-Tagged Joha Rice

Source: Times of India

Context:

India recently facilitated the export of 25 metric tonnes of Assam’s GI-tagged Joha rice to the United Kingdom and Italy, helping promote niche agricultural products in global markets.

What is Joha Rice?

Joha Rice is a short-grain aromatic rice variety known for its natural fragrance, soft texture, and traditional cultivation methods.

• It received Geographical Indication status in 2017, recognising its unique origin and traditional production in Assam.

Origin

• The rice originates from Assam, where it has been cultivated for centuries.
• It holds cultural importance in Assamese cuisine and festivals, often used in traditional dishes.

Regions of Cultivation

Joha rice is mainly grown in Upper and Central Assam, particularly in districts such as:

• Sivasagar
• Jorhat
• Golaghat
• Dibrugarh
• Lakhimpur

Facts To Remember

1. India and Seychelles carryout joint military exercise

The ongoing 11th edition of the India–Seychelles Joint Military Exercise LAMITIYE-2026, being conducted at the Seychelles Defence Academy from March 10 to 22, witnessed professional exchanges and joint training aimed at strengthening defence cooperation between the two countries.

2. Rupee settles at new record low of 92.3 against U.S. dollar

The rupee depreciated to a fresh low of 92.3 a dollar after the Iran’s new Supreme Leader Mojtaba Khamenei said that the Strait of Hormuz (SoH) would remain closed, keeping oil prices sticky at over $100 a barrel.

3. U.S. launches fresh probe into India, 59 other economies over ‘forced labour’

The U.S. has launched a fresh investigation into 60 countries, including India, to look into whether these countries have failed to ban the import of goods made using forced labour, the office of the U.S. Trade Representative announced late on March 12.

4. Retail Inflation Rises to 3.21% in February

India’s retail inflation, measured by the Consumer Price Index, increased to 3.21% in February from 2.74% in January, according to data released by the National Statistics Office.

5. NABARD, REC Withdraw ₹11,000 Crore Bond Issuances

Two state-owned financial institutions—National Bank for Agriculture and Rural Development and REC Limited—withdrew planned bond issuances worth ₹11,000 crore after receiving limited investor interest and bids at yields higher than acceptable levels.

6. PM Narendra Modi Visits Kerala and Tamil Nadu, Launches Projects Worth ₹16,450 Crore

Narendra Modi visited Ernakulam in Kerala and Tiruchirappalli in Tamil Nadu on 11 March 2026 to inaugurate and lay the foundation for development projects worth about ₹16,450 crore. In Kerala, projects worth ₹10,800 crore were launched including a polypropylene unit at the Kochi Refinery of Bharat Petroleum Corporation Limited. In Tamil Nadu, projects worth ₹5,650 crore were announced. These included the City Gas Distribution network to provide piped natural gas connections to households and commercial establishments.

7. Bharat Tex 2026 Launched as India’s Global Textile Event

Giriraj Singh launched Bharat Tex 2026, India’s flagship global textile event. The event will be held from 14–17 July 2026 at Bharat Mandapam in New Delhi. It is organised by the Bharat Tex Trade Federation with support from the Ministry of Textiles. The initiative aligns with the Prime Minister’s 5F vision—Farm to Fibre, Fibre to Factory, Factory to Fashion, and Fashion to Foreign markets.

8. NITI Aayog Releases Fiscal Health Index 2026; Odisha Tops

NITI Aayog released the second edition of the Fiscal Health Index (FHI) 2026 assessing the fiscal performance of Indian states. Odisha ranked first with a score of 73.1, followed by Goa and Jharkhand. The index evaluates financial management based on data from the Comptroller and Auditor General of India. States were categorised into Front-Runners, Performers and Aspirational groups.

9. Agriculture Ministry Releases 2nd Advance Estimates of Crop Production 2025–26

Shivraj Singh Chouhan released the second advance estimates of major agricultural crop production for 2025–26. Kharif foodgrain production is estimated at 1741.44 LMT while Rabi production is projected at 1745.13 LMT. Rice production for Kharif is estimated at 1239.28 LMT. The estimates were released by the Ministry of Agriculture and Farmers Welfare.

10. DPIIT and Voltas Sign MoU to Promote Cooling Technology Innovation

The Department for Promotion of Industry and Internal Trade signed an MoU with Voltas Limited to support startups working in cooling and smart appliance technologies. The collaboration focuses on areas such as HVAC systems, AI and IoT-enabled appliances. It will also organise innovation challenges under the Startup India initiative. Selected startups will receive mentorship, testing infrastructure and market access support.

11. WHO Foundation and Novo Nordisk Partner to Address Childhood Obesity in India

The WHO Foundation partnered with Novo Nordisk to tackle childhood obesity in India. The initiative will promote healthy lifestyles and early risk identification through school-based health programmes. It aligns with the Ayushman Bharat – School Health and Wellness Programme. The programme will integrate health screening, physical activity and mental health support in schools.

12. RBI Revises Counterparty Credit Risk Rules for Banks

Reserve Bank of India revised capital adequacy rules to strengthen management of counterparty credit risk. The amendment aligns India’s banking regulations with global Basel norms. Banks must maintain capital requirements at both standalone and consolidated levels. The revised framework also updates add-on factors used to calculate potential future exposure in derivative contracts.

13. RBI Cancels Licences of 36 NBFCs

The Reserve Bank of India cancelled the certificates of registration of 36 Non-Banking Financial Companies. These entities can no longer conduct NBFC business under the Reserve Bank of India Act, 1934. Additionally, nine NBFCs voluntarily surrendered their licences due to business exits or mergers. The move is part of RBI’s regulatory action to strengthen financial sector supervision.

14. SBI and MUFG Bank Form Strategic Partnership

State Bank of India signed a strategic partnership agreement with MUFG Bank of Japan. The collaboration aims to strengthen cross-border financing and investment between India and Japan. It will support mergers and acquisitions, aviation financing and trade finance. The partnership aligns with the India–Japan Special Strategic and Global Partnership.

15. RBI Authorises CRED as Payment Aggregator

Reserve Bank of India granted authorisation to CRED to operate as a Payment Aggregator. The licence was issued under the Payment and Settlement Systems Act, 2007. It will allow the fintech platform to onboard merchants directly and manage payment flows. The company already holds licences from IRDAI, SEBI and NPCI for other financial services.

16. CRISIL Projects India’s GDP Growth at 7.1% for FY27

CRISIL Limited projected India’s GDP growth at 7.1% for FY27 in its report “India Outlook: Wading through Squally Waters.” The forecast indicates a slight moderation from 7.6% growth estimated for FY26. Retail inflation is expected to rise to around 4.3%. Industrial capital expenditure is projected to increase significantly over the next five years.

17. Nomura Lowers India’s GDP Forecast to 7% for FY27

Nomura Holdings reduced India’s GDP growth forecast to 7% for FY27. The revision was mainly due to geopolitical tensions in West Asia affecting energy supplies and inflation. The firm raised the inflation projection to 4.5%. It also estimated India’s current account deficit at around 1.6% of GDP.

18. Parthanil Ghosh Appointed MD and CEO of HDFC ERGO

HDFC ERGO General Insurance appointed Parthanil Ghosh as its Managing Director and Chief Executive Officer. He will succeed Anuj Tyagi and assume charge from 16 April 2026 subject to regulatory approval. Ghosh has over 30 years of experience in financial services and insurance. He previously served as Executive Director of the company.

19. India to Host Asia Cup Archery 2027 Second Leg in Delhi

New Delhi will host the second leg of the Asia Cup Archery 2027. It will be India’s first international archery event in 22 years since the Asian Archery Championships held in 2005. The decision was announced by World Archery Asia. The event will strengthen India’s presence in international archery competitions.

20. World Kidney Day 2026 – March 12

World Kidney Day is observed annually on the second Thursday of March to raise awareness about kidney health. In 2026 it is observed on 12 March and marks the 20th anniversary of the campaign. The theme for 2026 is “Kidney Health for All – Caring for People, Protecting the Planet.” The initiative was started by the International Society of Nephrology and the International Federation of Kidney Foundations.