Daily Current Affairs & GK Updates

Fitch Ratings Raises India’s GDP Growth Forecast to 7.5% in FY26 In March 2026, Fitch Ratings, a global credit rating agency, released its ‘Global Economic Outlook – March 2026’, projecting India’s Gross Domestic Product (GDP) growth at 7.5% for the Financial Year 2025–26 (FY26), mainly supported by strong domestic demand and stable economic indicators.Key Findings:FY27 Forecast: For FY27, the agency revised its growth projection upward to 6.7%, compared to 6.4% projected in December 2025.Fitch also expects growth to remain around 6.5% in FY28.Global Outlook: Fitch projected global GDP growth at 2.6% in 2026, slightly lower than 2.7% recorded in 2025.

17 Mar, 2026

Fitch Ratings Raises India’s GDP Growth Forecast to 7.5% in FY26 In March 2026, Fitch Ratings, a global credit rating agency, released its ‘Global Economic Outlook – March 2026’, projecting India’s Gross Domestic Product (GDP) growth at 7.5% for the Financial Year 2025–26 (FY26), mainly supported by strong domestic demand and stable economic indicators.Key Findings:FY27 Forecast: For FY27, the agency revised its growth projection upward to 6.7%, compared to 6.4% projected in December 2025.Fitch also expects growth to remain around 6.5% in FY28.Global Outlook: Fitch projected global GDP growth at 2.6% in 2026, slightly lower than 2.7% recorded in 2025.

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DCM Shriram Secured USD 90 Million Funding from World Bank’s IFCIn March 2026, DCM Shriram Limited secured USD 90 million from International Finance Corporation(IFC), the private sector arm of the World Bank Group (WBG), via sustainability-linked Non-Convertible Debentures (NCDs).Key Details:Key Focus: The funds will be used to strengthen the company’s strategic initiatives and support long-term growth, including the expansion of downstream chemicals business.Also, the proceeds will be used to finance capital expenditures in its agri-businesses to create rural jobs through extensive engagement with farmers at ground level.Alignment: The deal aligns with the global sustainability financing standards set by the International Capital Market Association(ICMA)’s Sustainability-linked Bond Principles and the Loan Market Association(LMA)’s Sustainability Linked Loan Principles.Validated by: DCM’s newly developed sustainability-linked framework was independently validated by CareEdge Environmental, Social, and Governance (ESG), a specialized subsidiary of CARE Ratings, ensuring transparency and validity of the sustainability framework.

17 Mar, 2026

DCM Shriram Secured USD 90 Million Funding from World Bank’s IFCIn March 2026, DCM Shriram Limited secured USD 90 million from International Finance Corporation(IFC), the private sector arm of the World Bank Group (WBG), via sustainability-linked Non-Convertible Debentures (NCDs).Key Details:Key Focus: The funds will be used to strengthen the company’s strategic initiatives and support long-term growth, including the expansion of downstream chemicals business.Also, the proceeds will be used to finance capital expenditures in its agri-businesses to create rural jobs through extensive engagement with farmers at ground level.Alignment: The deal aligns with the global sustainability financing standards set by the International Capital Market Association(ICMA)’s Sustainability-linked Bond Principles and the Loan Market Association(LMA)’s Sustainability Linked Loan Principles.Validated by: DCM’s newly developed sustainability-linked framework was independently validated by CareEdge Environmental, Social, and Governance (ESG), a specialized subsidiary of CARE Ratings, ensuring transparency and validity of the sustainability framework.

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RBI Imposes Rs 2.7 Lakh Penalty on Manappuram Finance for KMP Compensation Guideline ViolationIn March 2026, the Reserve Bank of India (RBI) imposed a monetary penalty of Rs 2.70 lakh on Manappuram Finance Limited, a Non-Banking Financial Company (NBFC), for non-compliance with Key Managerial Personnel (KMP) compensation guidelines.Key Details of Penalty:Inspection Basis: The violation was identified during the statutory inspection conducted by RBI based on the company’s financial position as of 31 March 2025.Action: The RBI clarified that the penalty, imposed under the Reserve Bank of India Act, 1934, addresses regulatory deficiencies and does not affect the validity of existing customer transactions.Impact: Manappuram Finance has revised its Remuneration Policy to include mandatory deferral, malus, and clawback provisions. The board has also begun recovering the deferred compensation from the concerned KMPs in installments to ensure compliance with the Scale Based Regulation (SBR) framework.

17 Mar, 2026

RBI Imposes Rs 2.7 Lakh Penalty on Manappuram Finance for KMP Compensation Guideline ViolationIn March 2026, the Reserve Bank of India (RBI) imposed a monetary penalty of Rs 2.70 lakh on Manappuram Finance Limited, a Non-Banking Financial Company (NBFC), for non-compliance with Key Managerial Personnel (KMP) compensation guidelines.Key Details of Penalty:Inspection Basis: The violation was identified during the statutory inspection conducted by RBI based on the company’s financial position as of 31 March 2025.Action: The RBI clarified that the penalty, imposed under the Reserve Bank of India Act, 1934, addresses regulatory deficiencies and does not affect the validity of existing customer transactions.Impact: Manappuram Finance has revised its Remuneration Policy to include mandatory deferral, malus, and clawback provisions. The board has also begun recovering the deferred compensation from the concerned KMPs in installments to ensure compliance with the Scale Based Regulation (SBR) framework.

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MoF restructured norms for Minimum Public ShareholdingsIn March 2026, the Department of Economic Affairs (DEA) under the Ministry of Finance (MoF) revised the rules related to minimum public shareholding (MPS) for large companies planning to list on stock exchanges.The amendment introduced a graded framework, allowing companies to offer a smaller proportion of shares to the public at the time of their Initial Public Offering (IPO).Key HighlightsListing Reforms: The amendment to the Securities Contracts (Regulation) Rules, 1957 reduces the MPS required at the time of listing from 5% to 2.5%.Categories Expanded: Earlier, the norms for achieving the 25% MPS were based on 3 categories of post-issue capital: Rs 1,600 crore (Cr), Rs 1,600 Cr to Rs 4,000 Cr and Rs 4,000 Cr to Rs 1 lakh Cr.Now, the framework has been expanded to six categories:Up to Rs 1,600 Cr,Rs 1,600 Cr to Rs 4,000 Cr,Rs 4,000 Cr to Rs 50,000 Cr,Rs 50,000 Cr to Rs 1 lakh Cr,Rs 1 lakh Cr to Rs 5 lakh Cr andMore than Rs 5 lakh Cr.

17 Mar, 2026

MoF restructured norms for Minimum Public ShareholdingsIn March 2026, the Department of Economic Affairs (DEA) under the Ministry of Finance (MoF) revised the rules related to minimum public shareholding (MPS) for large companies planning to list on stock exchanges.The amendment introduced a graded framework, allowing companies to offer a smaller proportion of shares to the public at the time of their Initial Public Offering (IPO).Key HighlightsListing Reforms: The amendment to the Securities Contracts (Regulation) Rules, 1957 reduces the MPS required at the time of listing from 5% to 2.5%.Categories Expanded: Earlier, the norms for achieving the 25% MPS were based on 3 categories of post-issue capital: Rs 1,600 crore (Cr), Rs 1,600 Cr to Rs 4,000 Cr and Rs 4,000 Cr to Rs 1 lakh Cr.Now, the framework has been expanded to six categories:Up to Rs 1,600 Cr,Rs 1,600 Cr to Rs 4,000 Cr,Rs 4,000 Cr to Rs 50,000 Cr,Rs 50,000 Cr to Rs 1 lakh Cr,Rs 1 lakh Cr to Rs 5 lakh Cr andMore than Rs 5 lakh Cr.

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IISc Professor Arpita Patra Summits World’s Highest Volcano Nevado Ojos del SaladoIn March 2026, Arpita Patra, Professor at the Indian Institute of Science (IISc), Bengaluru(Karnataka), successfully summited Nevado Ojos del Salado, the world’s highest volcanic peak and the highest mountain in Chile, located on the Chile–Argentina border in the Atacama Desert.With this achievement, she became the second Indian woman to scale the peak after Arunima Sinha, who completed the climb in 2019.Details of Summit:Expedition: Arpita Patra reached the summit of Nevado Ojos del Salado (6,893 metres) on 6 March 2026. The climb took her close to 7,000 metres(m) altitude, making it the highest elevation she has ever reached.Previous Mountaineering Achievements: In May 2025, she became the first Indian woman to summit Mount Giluwe, and in October 2025, she became the second Indian woman to scale Pico de Orizaba. She has previously climbed Mount Kilimanjaro (5,895 m) in Africa, Mount Elbrus (5,642 m) in Europe, Mount Giluwe (4,367 m) in Oceania, and Pico de Orizaba (5,636 m) in North America.

17 Mar, 2026

IISc Professor Arpita Patra Summits World’s Highest Volcano Nevado Ojos del SaladoIn March 2026, Arpita Patra, Professor at the Indian Institute of Science (IISc), Bengaluru(Karnataka), successfully summited Nevado Ojos del Salado, the world’s highest volcanic peak and the highest mountain in Chile, located on the Chile–Argentina border in the Atacama Desert.With this achievement, she became the second Indian woman to scale the peak after Arunima Sinha, who completed the climb in 2019.Details of Summit:Expedition: Arpita Patra reached the summit of Nevado Ojos del Salado (6,893 metres) on 6 March 2026. The climb took her close to 7,000 metres(m) altitude, making it the highest elevation she has ever reached.Previous Mountaineering Achievements: In May 2025, she became the first Indian woman to summit Mount Giluwe, and in October 2025, she became the second Indian woman to scale Pico de Orizaba. She has previously climbed Mount Kilimanjaro (5,895 m) in Africa, Mount Elbrus (5,642 m) in Europe, Mount Giluwe (4,367 m) in Oceania, and Pico de Orizaba (5,636 m) in North America.

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Union Minister Rajiv Ranjan Singh Announced Rs 100 Crore Integrated Aqua Park Project in J&KIn March 2026, Union Minister Rajiv Ranjan Singh, Ministry of Fisheries, Animal Husbandry and Dairying (MoFAH&D) and Ministry of Panchayati Raj (MoPR), announced the sanction of a Rs 100 crore Integrated Aqua Park project in Anantnag district, Jammu and Kashmir (J&K).The announcement was made during the first-of-its-kin National Conference on Cold Water Fisheries organised by the Department of Fisheries (DoF), MoFAH&D at the Sher-e-Kashmir International Conference Centre (SKICC), Srinagar (J&K).Key Highlights of the Conference:Guidelines: Union Minister Rajiv Ranjan also released the Model Guidelines for the Development of Cold-Water Fisheries (MG-CWF) to promote scientific and sustainable development of the sector.The guidelines provide a framework covering Scientific Seed Stocking (SSS), Cage and Pen-Based Aquaculture (CPBA), governance mechanisms, Biodiversity Conservation, value-chain development and monitoring systems.Awards: Awards were presented to Best Fisheries Cooperative Societies (BFCS), Progressive Fish Farmers (PFF), Kisan Credit Card (KCC) beneficiaries and Fisheries Start-ups (FSU) for their contributions to fisheries development in J&K.

17 Mar, 2026

Union Minister Rajiv Ranjan Singh Announced Rs 100 Crore Integrated Aqua Park Project in J&KIn March 2026, Union Minister Rajiv Ranjan Singh, Ministry of Fisheries, Animal Husbandry and Dairying (MoFAH&D) and Ministry of Panchayati Raj (MoPR), announced the sanction of a Rs 100 crore Integrated Aqua Park project in Anantnag district, Jammu and Kashmir (J&K).The announcement was made during the first-of-its-kin National Conference on Cold Water Fisheries organised by the Department of Fisheries (DoF), MoFAH&D at the Sher-e-Kashmir International Conference Centre (SKICC), Srinagar (J&K).Key Highlights of the Conference:Guidelines: Union Minister Rajiv Ranjan also released the Model Guidelines for the Development of Cold-Water Fisheries (MG-CWF) to promote scientific and sustainable development of the sector.The guidelines provide a framework covering Scientific Seed Stocking (SSS), Cage and Pen-Based Aquaculture (CPBA), governance mechanisms, Biodiversity Conservation, value-chain development and monitoring systems.Awards: Awards were presented to Best Fisheries Cooperative Societies (BFCS), Progressive Fish Farmers (PFF), Kisan Credit Card (KCC) beneficiaries and Fisheries Start-ups (FSU) for their contributions to fisheries development in J&K.

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Sagar Defence Lays Foundation of World’s First Autonomous Maritime Shipbuilding Centre in APIn March 2026, Sagar Defence Engineering Private Limited, a defence technology company, laid the foundation stone for the world’s first Autonomous Maritime Shipbuilding and Systems Centre at Juvvaladinne Fishing Harbour, Nellore district, Andhra Pradesh (AP). About World’s First Autonomous Maritime Shipbuilding Centre:Advanced Shipyard: The proposed Autonomous Maritime Shipbuilding Centre will operate as an advanced shipyard integrating robotics and Artificial Intelligence (AI) into key production processes to improve shipbuilding efficiency, workforce productivity, and sustainability.Integrated Facilities: The centre will house autonomous shipbuilding units, testing infrastructure, a Research and Development (R&D) centre, Maintenance, Repair and Overhaul (MRO) facilities, and a specialised training hub within a single integrated campus.Technologies: The shipyard will adopt smart manufacturing technologies, including robotic fabrication systems for welding, cutting, painting, and assembly, along with automated guided vehicles and additive manufacturing (3D printing) for rapid production of specialised components.

17 Mar, 2026

Sagar Defence Lays Foundation of World’s First Autonomous Maritime Shipbuilding Centre in APIn March 2026, Sagar Defence Engineering Private Limited, a defence technology company, laid the foundation stone for the world’s first Autonomous Maritime Shipbuilding and Systems Centre at Juvvaladinne Fishing Harbour, Nellore district, Andhra Pradesh (AP). About World’s First Autonomous Maritime Shipbuilding Centre:Advanced Shipyard: The proposed Autonomous Maritime Shipbuilding Centre will operate as an advanced shipyard integrating robotics and Artificial Intelligence (AI) into key production processes to improve shipbuilding efficiency, workforce productivity, and sustainability.Integrated Facilities: The centre will house autonomous shipbuilding units, testing infrastructure, a Research and Development (R&D) centre, Maintenance, Repair and Overhaul (MRO) facilities, and a specialised training hub within a single integrated campus.Technologies: The shipyard will adopt smart manufacturing technologies, including robotic fabrication systems for welding, cutting, painting, and assembly, along with automated guided vehicles and additive manufacturing (3D printing) for rapid production of specialised components.

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Overview of PM Narendra Modi’s Visit to Assam & WB on March 13-14, 2026Prime Minister (PM) Narendra Modi visited Assam and West Bengal (WB) from 13–14 March 2026, where he inaugurated projects, dedicated infrastructure to the nation, and laid foundation stones including Bhoomi Poojan for multiple development projects worth over Rs. 66,280 crore, with Rs. 47,600 crore in Assam and Rs. 18,680 crore in WB.Highlights of the Visit:Visit to Assam: PM Narendra Modi launched, inaugurated, dedicated and laid the foundation stone for multiple infrastructure, energy, railway, waterways, welfare and education projects worth Rs 47,600 crore across Kokrajhar (Assam), Guwahati (Assam) and Silchar (Assam).Bhoomi Poojan was performed for Assam Mala 3.0 (AM 3.0), a road infrastructure programme worth Rs 3,200 crore that will construct over 900 kilometres (km) of roads across 34 districts and include 37 bridges to strengthen inter-state connectivity.Visit to WB: Development projects worth around Rs 18,680 crore covering road infrastructure, ports and railways were inaugurated in Kolkata (WB).National Highway (NH) projects with a combined length of over 420 km worth about Rs 16,990 crore were inaugurated and launched to improve connectivity and road safety.

17 Mar, 2026

Overview of PM Narendra Modi’s Visit to Assam & WB on March 13-14, 2026Prime Minister (PM) Narendra Modi visited Assam and West Bengal (WB) from 13–14 March 2026, where he inaugurated projects, dedicated infrastructure to the nation, and laid foundation stones including Bhoomi Poojan for multiple development projects worth over Rs. 66,280 crore, with Rs. 47,600 crore in Assam and Rs. 18,680 crore in WB.Highlights of the Visit:Visit to Assam: PM Narendra Modi launched, inaugurated, dedicated and laid the foundation stone for multiple infrastructure, energy, railway, waterways, welfare and education projects worth Rs 47,600 crore across Kokrajhar (Assam), Guwahati (Assam) and Silchar (Assam).Bhoomi Poojan was performed for Assam Mala 3.0 (AM 3.0), a road infrastructure programme worth Rs 3,200 crore that will construct over 900 kilometres (km) of roads across 34 districts and include 37 bridges to strengthen inter-state connectivity.Visit to WB: Development projects worth around Rs 18,680 crore covering road infrastructure, ports and railways were inaugurated in Kolkata (WB).National Highway (NH) projects with a combined length of over 420 km worth about Rs 16,990 crore were inaugurated and launched to improve connectivity and road safety.

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ISRO Successfully Conducts Sea Level Hot Test of Cryogenic Engine CE20 at 22 Tonne Thrust in TNIn March 2026, the Indian Space Research Organisation (ISRO) successfully conducted a 165-second sea level hot test of the Cryogenic Engine (CE20) at 22 tonne thrust using a Nozzle Protection System (NPS) and multi-element igniter at the ISRO Propulsion Complex (IPRC), Mahendragiri, Tamil Nadu (TN).The test supports the development of the uprated Cryogenic Stage (C32) for future missions of the Launch Vehicle Mark-3 (LVM3) and enhances the vehicle’s payload capability for upcoming space missions.Highlights of CE20 Cryogenic Engine Sea-Level Test:Upgrade: Operating the CE20 at 22-tonne thrust will enhance the payload capability of the LVM3, while earlier sea-level hot tests were conducted at 19-tonne thrust using the NPS.Challenge: Sea-level testing is difficult due to the high area-ratio nozzle with an exit pressure of around 50 millibar (mbar), which can cause flow separation leading to vibrations, thermal stress, and possible mechanical damage.Protection: The NPS was used to control flow separation effects and ensure safe sea-level testing of the high area-ratio nozzle.Validation: The tested CE20 completed a record 20 hot tests, enabling qualification of multiple technologies using a single engine.

16 Mar, 2026

ISRO Successfully Conducts Sea Level Hot Test of Cryogenic Engine CE20 at 22 Tonne Thrust in TNIn March 2026, the Indian Space Research Organisation (ISRO) successfully conducted a 165-second sea level hot test of the Cryogenic Engine (CE20) at 22 tonne thrust using a Nozzle Protection System (NPS) and multi-element igniter at the ISRO Propulsion Complex (IPRC), Mahendragiri, Tamil Nadu (TN).The test supports the development of the uprated Cryogenic Stage (C32) for future missions of the Launch Vehicle Mark-3 (LVM3) and enhances the vehicle’s payload capability for upcoming space missions.Highlights of CE20 Cryogenic Engine Sea-Level Test:Upgrade: Operating the CE20 at 22-tonne thrust will enhance the payload capability of the LVM3, while earlier sea-level hot tests were conducted at 19-tonne thrust using the NPS.Challenge: Sea-level testing is difficult due to the high area-ratio nozzle with an exit pressure of around 50 millibar (mbar), which can cause flow separation leading to vibrations, thermal stress, and possible mechanical damage.Protection: The NPS was used to control flow separation effects and ensure safe sea-level testing of the high area-ratio nozzle.Validation: The tested CE20 completed a record 20 hot tests, enabling qualification of multiple technologies using a single engine.

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ACC Approves Appointment of KV Ramana Murty as Whole-Time Member of SEBI In March 2026, the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister (PM) Narendra Modi, approved the appointment of Kompella Venkata (K.V.) Ramana Murty as a Whole-Time Member(WTM) of Securities and Exchange Board of India (SEBI) for a period of three years from the date of assuming charge or until further orders.Following his appointment, the total number of WTMs on the SEBI board now reaches 4.About KV Ramana Murty:Service: He is a 1991-batch Indian Defence Accounts Service (IDAS) officer.Previous Role: Prior to his appointment to SEBI, he served as Additional Controller General of Defence Accounts (CGDA) in the Ministry of Defence (MoD).He also served as a part-time member of SEBI board, as representative of the Ministry of Corporate Affairs(MoCA).Composition of SEBI Board:Total Members: The SEBI board comprises a chairman, 4 whole-time members and 4 part-time members, including representatives from MoCA, Ministry of Finance(MoF), and the Reserve Bank of India (RBI).Other WTM: Apart from Murty, other 3 WTM include: Kamlesh Chandra Varshney, Sandip Pradhan and Amarjeet Singh.

16 Mar, 2026

ACC Approves Appointment of KV Ramana Murty as Whole-Time Member of SEBI In March 2026, the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister (PM) Narendra Modi, approved the appointment of Kompella Venkata (K.V.) Ramana Murty as a Whole-Time Member(WTM) of Securities and Exchange Board of India (SEBI) for a period of three years from the date of assuming charge or until further orders.Following his appointment, the total number of WTMs on the SEBI board now reaches 4.About KV Ramana Murty:Service: He is a 1991-batch Indian Defence Accounts Service (IDAS) officer.Previous Role: Prior to his appointment to SEBI, he served as Additional Controller General of Defence Accounts (CGDA) in the Ministry of Defence (MoD).He also served as a part-time member of SEBI board, as representative of the Ministry of Corporate Affairs(MoCA).Composition of SEBI Board:Total Members: The SEBI board comprises a chairman, 4 whole-time members and 4 part-time members, including representatives from MoCA, Ministry of Finance(MoF), and the Reserve Bank of India (RBI).Other WTM: Apart from Murty, other 3 WTM include: Kamlesh Chandra Varshney, Sandip Pradhan and Amarjeet Singh.

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