Daily Current Affairs (DCA) 23 March, 2026

Daily Current Affairs Quiz
23 March, 2026

National Affairs

1. Corporate Law Reforms and Finance Bill

Source: ET

Context:

In a significant legislative move during the Budget Session 2026, Union Finance Minister Nirmala Sitharaman is set to introduce the Corporate Laws (Amendment) Bill, 2026 in the Lok Sabha, alongside the consideration and passage of the Finance Bill, 2026. These measures are central to advancing India’s economic reforms, regulatory simplification, and fiscal governance.

Corporate Laws (Amendment) Bill, 2026

The proposed bill seeks to amend:

• Companies Act, 2013
• Limited Liability Partnership Act, 2008

Key Reform Focus

• Decriminalisation of Minor Offences
  • Shifting procedural lapses from criminal liability to civil penalties
• Ease of Doing Business
  • Reducing compliance burden for startups, MSMEs, and producer companies
• Regulatory Simplification
  • Streamlining corporate governance and reporting norms

Finance Bill, 2026

The Finance Bill, 2026 is listed for consideration and passing in the Lok Sabha.

Core Purpose

• To implement the Union Budget 2026–27 proposals
• Provide legal backing for:
  • Taxation changes
  • Revenue mobilisation
  • Fiscal policy measures

Other Key Legislative Business

In the Rajya Sabha, Union Home Minister Amit Shah is scheduled to introduce the Central Armed Police Forces (General Administration) Bill, 2026, aimed at:

• Standardising recruitment rules
• Regulating service conditions of officers
• Improving administrative efficiency of CAPFs

Additionally, the Appropriation (No. 2) Bill, 2026—already passed by Lok Sabha—will be taken up for consideration, authorising expenditure from the Consolidated Fund of India.

2. Exercise Lamitiye 2026

Source: PIB

Context:

Exercise Lamitiye 2026 is a bilateral military exercise between India and Seychelles, conducted in March 2026. The name “Lamitiye” means “friendship” in Creole, reflecting the close strategic ties between the two nations.

Key Highlights

• Maiden Tri-Services Edition (2026)
  • Participation from:
    • Indian Army
    • Indian Navy
    • Indian Air Force
  • Along with Seychelles Defence Forces
• First Participation of Indian Navy
  • Represented by INS Trikand

Phases of the Exercise

Harbour Phase

• Conducted at Port Victoria
• Activities:
  • Visit, Board, Search and Seizure (VBSS) drills
  • Joint boarding operations

Sea Phase

• Joint maritime drills with Seychelles Coast Guard ship Le Vigilant
• Operations included:
  • Boarding exercises by MARCOS and Seychelles Special Forces
  • Coordinated naval manoeuvres

MAHASAGAR Vision

The mission aligns with India’s strategic doctrine:

• MAHASAGAR
  (Mutual and Holistic Advancement for Security and Growth Across Region)
• Reinforces India’s role as:
  • Preferred Security Partner
  • First Responder in the Indian Ocean Region

3. National DMF Summit 2026

Source: ET

Context:

The Ministry of Mines will organise the National District Mineral Foundation (DMF) Summit 2026 on 23–24 March 2026 at SCOPE Convention Centre. The summit focuses on improving the effective and outcome-oriented utilisation of DMF funds, especially in Aspirational Districts and Blocks.

Theme of the Summit

“Effective Utilization of District Mineral Funds for ADP/ABP Areas”

• ADP: Aspirational Districts Programme
• ABP: Aspirational Block Programme

Objectives of the Summit

• Strengthen Centre–State–District coordination
• Identify policy reforms for better utilisation of DMF funds
• Improve planning, implementation, and monitoring mechanisms
• Promote transparent and impact-driven spending

What is DMF?

• District Mineral Foundation (DMF) is a trust set up in mining districts
• Funded through contributions from mining companies
• Aims to support development of mining-affected communities

Banking/Finance

1. SEBI Board Meet 2026

Context:

The Securities and Exchange Board of India is set to deliberate on a broad reform agenda aimed at improving market efficiency, investor participation, and regulatory ease. A major focus of the meeting is easing operational constraints for Foreign Portfolio Investors (FPIs).

Key Proposal: Netting of Funds for FPIs

Current System: Gross Settlement

• FPIs must settle each trade individually
• Even if they buy and sell on the same day, they must:
  • Pay fully for purchases
  • Receive separately for sales

This leads to:

• Higher capital requirements
• Reduced operational efficiency

Proposed Reform: Net Settlement

SEBI is considering allowing netting of funds, meaning:

• FPIs can offset same-day buy and sell transactions
• Only the net payable or receivable amount needs to be settled

Example:

• Buy ₹100 crore worth of shares
• Sell ₹80 crore worth of shares
• Current system → Pay ₹100 crore
• Proposed system → Pay only ₹20 crore (net amount)

2. Bank of Baroda Launches UPI-Linked Credit Line for Women SHGs

Source: TOI

Context:

In March 2026, Bank of Baroda introduced a UPI-linked overdraft (OD) facility for verified women Self-Help Group (SHG) members holding accounts under Pradhan Mantri Jan Dhan Yojana. This makes BoB the first bank in India to roll out such a digital micro-credit solution integrated with UPI.

Key Features of the Initiative

1. UPI-Linked Overdraft Facility

• Women SHG members can access instant credit via UPI
• Seamless integration of digital payments and micro-credit

2. Maximum Credit Limit

• Eligible beneficiaries can avail up to ₹5,000 overdraft
• Provides quick liquidity for emergency and small business needs

3. Target Beneficiaries

• Verified women SHG members
• Must hold PMJDY bank accounts
• Focus on rural and financially excluded sections

Key Institutional Partners

The initiative has been implemented in collaboration with:

• National Payments Corporation of India
• Indian Banks Association
• Deendayal Antyodaya Yojana – National Rural Livelihoods Mission

3. RBI Imposes ₹31.80 Lakh Penalty on HSBC India for Deposit Norm Violations

Source: BS

Context:

In March 2026, the Reserve Bank of India (RBI) imposed a monetary penalty of ₹31.80 lakh on HSBC India for non-compliance with regulatory guidelines related to inoperative accounts and unclaimed deposits.

Key Violations Identified

The RBI flagged multiple compliance lapses:

• Failure to maintain a searchable database of unclaimed deposits
• Non-generation of Unclaimed Deposits Reference Number (UDRN)
• Irregularities in transferring funds to the Depositor Education and Awareness (DEA) Fund
• Violation of provisions under the Banking Regulation Act, 1949 (Section 26A)

About DEA Fund and UDRN

• DEA Fund:
  • Managed by RBI
  • Holds unclaimed deposits after a specified inactive period
  • Used for investor awareness and protection initiatives
• UDRN (Unclaimed Deposits Reference Number):
  • Unique identifier for tracking unclaimed deposits
  • Ensures transparency and ease of retrieval for depositors

Nature of the Penalty

• The penalty is regulatory and corrective in nature
• Imposed for deficiencies in compliance, not fraud
• Does not impact customer transactions or deposits
• Does not preclude further supervisory action if required

Agriculture

1. Real-Time Crop Monitoring & AI in Agriculture

Source: BL

Context:

With rising concerns over food adulteration, misleading labels, and lack of traceability, consumers are increasingly demanding transparency in food supply chains. Traditional systems remain efficient but opaque, creating a trust deficit.

Emerging technologies such as Artificial Intelligence (AI), digital sensors, and real-time monitoring systems are now enabling a shift toward data-driven, transparent, and trust-based agricultural ecosystems.

What is Real-Time Crop Monitoring?

Real-time crop monitoring refers to the use of:

• AI-driven analytics
• IoT-based sensors
• Satellite and digital farm platforms

to continuously track:

• Crop health
• Soil quality
• Irrigation patterns
• Farming practices

This data is recorded throughout the crop cycle, creating a credible digital record of production.

Bridging the Transparency Gap

Problem in Current System

• Limited visibility into:
  • Origin of crops
  • Farming practices
  • Quality of inputs
• Consumers rely heavily on brand claims rather than verified data

Technological Solution

• Linking farm-level data with supply chains
• Use of:
  • QR codes
  • Digital traceability platforms

This allows consumers to access:

• Source of ingredients
• Cultivation methods
• Quality indicators

Role of AI in Food Supply Chains

AI enhances transparency by:

• Converting complex farm data into simple consumer insights
• Enabling predictive analytics for crop health and yield
• Improving decision-making for farmers and agri-businesses

Facts To Remember

1. Bhupathiraju Anmish Varma Sets Guinness Record for Seven Volcanic Summits

Bhupathiraju Anmish Varma set a Guinness World Record for fastest ascent of Seven Volcanic Summits in 92 days. The expedition spanned continents from Mount Elbrus to Antarctica’s Mount Sidley. The record was recognised in February 2026 and awarded in Delhi. It highlights endurance and global mountaineering excellence.

2. William Dalrymple Wins Mark Lynton History Prize 2026

William Dalrymple won the Mark Lynton History Prize 2026 for his book “The Golden Road”. The award is administered by the Columbia University and Nieman Foundation. It carries a USD 10,000 prize for excellence in historical writing. The book highlights India’s global historical influence.

3. Rituparna Sengupta Honoured at UK Parliament for Women Empowerment

Rituparna Sengupta received the Women Empowerment Award at the House of Commons. The honour recognises her contribution to arts and culture. It was presented during an International Women’s Day event. The award highlights Indian cultural influence globally.

4. NIOT Tests Indigenous Floating LiDAR Buoy for Offshore Wind and Forecasting

National Institute of Ocean Technology tested an indigenous Floating LiDAR buoy off Tamil Nadu coast. It measures offshore wind speed up to 300 metres using laser technology. The system improves weather forecasting and supports offshore wind energy. It also enhances maritime awareness in the Indian Ocean Region.

5. Kailash Satyarthi’s Book ‘Karuna’ Highlights Power of Compassion

Kailash Satyarthi released his book “Karuna: The Power of Compassion”. It introduces the concept of Compassion Quotient (CQ) for social transformation. The book focuses on tackling inequality and global crises. It reinforces compassion as a measurable and actionable force.

6. World Sparrow Day 2026 Promotes Urban Biodiversity Conservation

World Sparrow Day is observed on March 20 with theme “Creating Bird-Friendly Cities & Communities”. It highlights the decline of House Sparrow populations globally. The initiative promotes conservation and urban biodiversity awareness. It was launched by the Nature Forever Society.

7. Telangana Budget 2026-27 Focuses on Growth and Welfare

Telangana presented ₹3.24 lakh crore Budget for FY27 by Mallu Bhatti Vikramarka. The budget targets 10.7% GSDP growth and aims for a $1 trillion economy by 2034. It emphasises infrastructure, welfare, and urban expansion. Capital expenditure stands at ₹47,267 crore.

8. Various Ministers congratulate PM Modi on becoming India’s Longest-Serving Head of Government

Union Home Minister Amit Shah has said that Prime Minister Narendra Modi has become the longest-serving head of a government in India, surpassing the record of former Sikkim Chief Minister Pawan Kumar Chamling.

9. Indian Naval Ship Trikand Concludes Port Call at Port Victoria, Seychelles

Indian Naval Ship Trikand concluded its port call from Victoria, Seychelles, on the 20th of this month. 

10. Government modifies Credit Guarantee Scheme to support MSME manufacturers and exporters

The Government has modified the Mutual Credit Guarantee Scheme to support Micro, Small and Medium Enterprises in line with the Budget 2025-26.

11. Rice and Wheat Procurement in India: Parliamentary Panel Flags Persistent Shortfall

A Parliamentary Standing Committee on Consumer Affairs, Food and Public Distribution, headed by Kanimozhi Karunanidhi, has raised concerns over the consistent gap between estimated and actual procurement of rice and wheat in India. The panel has urged the Ministry of Consumer Affairs, Food and Public Distribution to improve planning and coordination with States.