Daily Current Affairs & GK Updates

Union Minister C. R. Patil Inaugurates New NDSA Office in New Delhi; Launches Key Digital Initiatives for Dam SafetyIn March 2026, Union Minister Chandrakant Raghunath (C. R.) Patil, Ministry of Jal Shakti (MoJS), inaugurated the new office of the National Dam Safety Authority (NDSA) at West Block II, R.K. Puram, New Delhi (Delhi).About Digital Initiatives Launched for Dam Safety Governance:Website: NDSA website, developed in line with the Digital Brand Identity Manual (DBIM) 3.0, was launched with a Geographic Information System (GIS)-based “Specified Dams” section providing a map-based interface with key information on dams across India.NETRA: NDSA Engine for Tracking and Review using Artificial Intelligence (AI)(NETRA) was launched as an AI-enabled platform developed by NDSA in collaboration with the Weapons and Electronics Systems Engineering Establishment (WESEE) of the Indian Navy (IN) to provide a conversational interface for accessing dam safety regulations, policies and documents.Rashtriya Bandh Suraksha Darpan (RBSD): Developed by the Centre for Development of Advanced Computing (C-DAC), RBSD was launched as a visualisation platform for Dam Break Analysis (DBA) to improve risk assessment, monitoring and planning related to dam safety.

16 Mar, 2026

Union Minister C. R. Patil Inaugurates New NDSA Office in New Delhi; Launches Key Digital Initiatives for Dam SafetyIn March 2026, Union Minister Chandrakant Raghunath (C. R.) Patil, Ministry of Jal Shakti (MoJS), inaugurated the new office of the National Dam Safety Authority (NDSA) at West Block II, R.K. Puram, New Delhi (Delhi).About Digital Initiatives Launched for Dam Safety Governance:Website: NDSA website, developed in line with the Digital Brand Identity Manual (DBIM) 3.0, was launched with a Geographic Information System (GIS)-based “Specified Dams” section providing a map-based interface with key information on dams across India.NETRA: NDSA Engine for Tracking and Review using Artificial Intelligence (AI)(NETRA) was launched as an AI-enabled platform developed by NDSA in collaboration with the Weapons and Electronics Systems Engineering Establishment (WESEE) of the Indian Navy (IN) to provide a conversational interface for accessing dam safety regulations, policies and documents.Rashtriya Bandh Suraksha Darpan (RBSD): Developed by the Centre for Development of Advanced Computing (C-DAC), RBSD was launched as a visualisation platform for Dam Break Analysis (DBA) to improve risk assessment, monitoring and planning related to dam safety.

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India to Host Asia Cup Archery 2027 Second Leg in Delhi After 22 YearsIn March 2026, New Delhi, the national capital of India, is set to host the second leg of the Asia Cup Archery in 2027, marking India’s first international archery event in 22 years since the Asian Archery Championships held in Delhi in 2005. The decision was finalised after Kazi Rajib Uddin Ahmed Chapol, President of World Archery Asia, met Virendra Sachdeva, Secretary General of the Archery Association of India, during his three-day visit to Kolkata, West Bengal(WB).Key Archery Tournaments:Key Tournaments: Ahmedabad (Gujarat) is set to host the Asian Para Archery Championships 2026 in September 2026 and Kolkata (WB) will host the South Asian Archery Championships 2026.Asia Cup Archery 2026: The opening leg of the Asia Cup Archery is scheduled in Bangkok, Thailand from March 21 to 26, 2026.The second leg of the tournament will be held in Iraq, while the third and final leg is scheduled in ChinaArchery World Cup 2026: This year’s Archery World Cup is scheduled in Puebla, Mexico, from April 07 to 12, 2026.Meanwhile, the 2nd and 3rd leg of the tournament will be hosted by China and Turkey in Shanghai (May 05 to May 10, 2026) and Antalya (June 09 to June 14, 2026), respectively.

13 Mar, 2026

India to Host Asia Cup Archery 2027 Second Leg in Delhi After 22 YearsIn March 2026, New Delhi, the national capital of India, is set to host the second leg of the Asia Cup Archery in 2027, marking India’s first international archery event in 22 years since the Asian Archery Championships held in Delhi in 2005. The decision was finalised after Kazi Rajib Uddin Ahmed Chapol, President of World Archery Asia, met Virendra Sachdeva, Secretary General of the Archery Association of India, during his three-day visit to Kolkata, West Bengal(WB).Key Archery Tournaments:Key Tournaments: Ahmedabad (Gujarat) is set to host the Asian Para Archery Championships 2026 in September 2026 and Kolkata (WB) will host the South Asian Archery Championships 2026.Asia Cup Archery 2026: The opening leg of the Asia Cup Archery is scheduled in Bangkok, Thailand from March 21 to 26, 2026.The second leg of the tournament will be held in Iraq, while the third and final leg is scheduled in ChinaArchery World Cup 2026: This year’s Archery World Cup is scheduled in Puebla, Mexico, from April 07 to 12, 2026.Meanwhile, the 2nd and 3rd leg of the tournament will be hosted by China and Turkey in Shanghai (May 05 to May 10, 2026) and Antalya (June 09 to June 14, 2026), respectively.

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HDFC ERGO General Insurance Appoints Parthanil Ghosh as its MD & CEOIn March 2026, HDFC ERGO General Insurance Company Limited, a Joint Venture(JV) between HDFC Limited and ERGO International AG, appointed Parthanil Ghosh as its new Managing Director (MD) and Chief Executive Officer (CEO). He will succeed Anuj Tyagi, who resigned on January 16, 2026.His appointment will be effective from April 16, 2026, and is subject to approvals from the Insurance Regulatory and Development Authority of India (IRDAI) and other required approvals.About Parthanil Ghosh:Profile: He has over 30 years of experience in financial services and insurance, including more than 16 years in the general insurance sector, with expertise in business strategy, product development, digital transformation, and insurance distribution.Key Role: In 2016, he joined HDFC ERGO following the company’s merger with L&T General Insurance.He also played a pivotal role in the company’s integration with Apollo Munich Health Insurance, strengthening its operations and expanding its presence in the health insurance segment.Current Role: Since May 2025, he has been serving as the Executive Director (ED) of HDFC ERGO General Insurance.

13 Mar, 2026

HDFC ERGO General Insurance Appoints Parthanil Ghosh as its MD & CEOIn March 2026, HDFC ERGO General Insurance Company Limited, a Joint Venture(JV) between HDFC Limited and ERGO International AG, appointed Parthanil Ghosh as its new Managing Director (MD) and Chief Executive Officer (CEO). He will succeed Anuj Tyagi, who resigned on January 16, 2026.His appointment will be effective from April 16, 2026, and is subject to approvals from the Insurance Regulatory and Development Authority of India (IRDAI) and other required approvals.About Parthanil Ghosh:Profile: He has over 30 years of experience in financial services and insurance, including more than 16 years in the general insurance sector, with expertise in business strategy, product development, digital transformation, and insurance distribution.Key Role: In 2016, he joined HDFC ERGO following the company’s merger with L&T General Insurance.He also played a pivotal role in the company’s integration with Apollo Munich Health Insurance, strengthening its operations and expanding its presence in the health insurance segment.Current Role: Since May 2025, he has been serving as the Executive Director (ED) of HDFC ERGO General Insurance.

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Nomura Lowers India GDP Forecast to 7% in FY27 Amid West Asia ConflictIn March 2026, Japanese brokerage firm Nomura Holdings Inc. lowered its Gross Domestic Product (GDP) growth projection for India to 7% for Financial Year 2026-27 (FY27), from its previous estimate of 7.1%.This downward projection is mainly driven by the ongoing conflict in West Asia, posing serious risks to energy supplies and inflation.Key Projections:Inflation: Nomura has raised India’s inflation forecast for FY27 by 70 basis points (bps), from 3.8% to 4.5%.The agency further cautioned that if oil prices were passed through, every 10% increase could add nearly 50 bps to inflation.Current Account Deficit (CAD): It has further projected India’s CAD at 1.6% of GDP, compared to the previous estimate of 1.2%.

13 Mar, 2026

Nomura Lowers India GDP Forecast to 7% in FY27 Amid West Asia ConflictIn March 2026, Japanese brokerage firm Nomura Holdings Inc. lowered its Gross Domestic Product (GDP) growth projection for India to 7% for Financial Year 2026-27 (FY27), from its previous estimate of 7.1%.This downward projection is mainly driven by the ongoing conflict in West Asia, posing serious risks to energy supplies and inflation.Key Projections:Inflation: Nomura has raised India’s inflation forecast for FY27 by 70 basis points (bps), from 3.8% to 4.5%.The agency further cautioned that if oil prices were passed through, every 10% increase could add nearly 50 bps to inflation.Current Account Deficit (CAD): It has further projected India’s CAD at 1.6% of GDP, compared to the previous estimate of 1.2%.

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CRISIL Intelligence Projects India’s GDP Growth at 7.1% for FY27In March 2026, CRISIL Limited (formerly Credit Rating Information Services of India Limited), through its CRISIL Intelligence division, released the report titled “India Outlook: Wading through Squally Waters” at the 10th India Outlook Conclave in Mumbai, Maharashtra.The report projects that India’s real Gross Domestic Product (GDP) growth will moderate to 7.1% in Financial Year 2026–27 (FY27), down from 7.6% in FY26.About India’s Growth Outlook:Retail Inflation: It is projected to increase to 4.3% in FY27 from 2.5% in FY26, though favourable monsoon conditions may help maintain overall price stability.Capex: Industrial Capex is projected to increase 1.5 times to around Rs 9.1 lakh crore annually between FY27 and FY31, with semiconductor and electronics manufacturing expected to grow 4.7 times and EV manufacturing and charging infrastructure 3.1 times.

13 Mar, 2026

CRISIL Intelligence Projects India’s GDP Growth at 7.1% for FY27In March 2026, CRISIL Limited (formerly Credit Rating Information Services of India Limited), through its CRISIL Intelligence division, released the report titled “India Outlook: Wading through Squally Waters” at the 10th India Outlook Conclave in Mumbai, Maharashtra.The report projects that India’s real Gross Domestic Product (GDP) growth will moderate to 7.1% in Financial Year 2026–27 (FY27), down from 7.6% in FY26.About India’s Growth Outlook:Retail Inflation: It is projected to increase to 4.3% in FY27 from 2.5% in FY26, though favourable monsoon conditions may help maintain overall price stability.Capex: Industrial Capex is projected to increase 1.5 times to around Rs 9.1 lakh crore annually between FY27 and FY31, with semiconductor and electronics manufacturing expected to grow 4.7 times and EV manufacturing and charging infrastructure 3.1 times.

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RBI Authorises CRED To Operate as Payment AggregatorIn March 2026, the Reserve Bank of India (RBI) granted authorisation to CRED, a fintech platform operated by Dreamplug Technologies Private Limited, to operate as Payment Aggregator (PA), under the Payment and Settlement Systems Act(PSSA), 2007.This approval will help the company in expanding its role in India’s digital payments ecosystem.About the Authorisation:Function: This authorisation will enable the company to onboard merchants directly and manage payment flows without depending on intermediaries or partner banks.PPI License: Following this approval, the CRED and its subsidiaries now hold two key RBI licenses, including a license to operate as Prepaid Payment Instrument (PPI).Other Key Licenses: The company also holds a corporate agency licence from the Insurance Regulatory and Development Authority (IRDAI); Registered investment adviser licence from the Securities and Exchange Board of India (SEBI); and Third-party application provider (TPAP) license from the National Payments Corporation of India (NPCI).

13 Mar, 2026

RBI Authorises CRED To Operate as Payment AggregatorIn March 2026, the Reserve Bank of India (RBI) granted authorisation to CRED, a fintech platform operated by Dreamplug Technologies Private Limited, to operate as Payment Aggregator (PA), under the Payment and Settlement Systems Act(PSSA), 2007.This approval will help the company in expanding its role in India’s digital payments ecosystem.About the Authorisation:Function: This authorisation will enable the company to onboard merchants directly and manage payment flows without depending on intermediaries or partner banks.PPI License: Following this approval, the CRED and its subsidiaries now hold two key RBI licenses, including a license to operate as Prepaid Payment Instrument (PPI).Other Key Licenses: The company also holds a corporate agency licence from the Insurance Regulatory and Development Authority (IRDAI); Registered investment adviser licence from the Securities and Exchange Board of India (SEBI); and Third-party application provider (TPAP) license from the National Payments Corporation of India (NPCI).

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SBI and MUFG Bank Sign Strategic Partnership to Strengthen India–Japan Financial TiesIn March 2026, the State Bank of India (SBI) signed a strategic partnership agreement with MUFG Bank, Ltd. (MUFG), a leading Japanese global financial institution, to strengthen cross-border capital flows, expand financing opportunities, and enhance economic cooperation between India and Japan.Overview of the Strategic Alliance:Purpose: The partnership combines SBI’s strong domestic presence in India with MUFG’s global network to support Japanese companies investing in India and Indian enterprises expanding into Japan and other international markets.Focus: The partnership focuses on Mergers and Acquisitions (M&A), aviation and real estate financing, along with M&A advisory, trade finance, and retail banking services.Alignment: The pact aligns with India-Japan Special Strategic and Global Partnership and Joint Vision for the Next Decade. It supports Viksit Bharat 2047 (Developed India by 2047 vision).Background: The partnership builds on earlier collaboration, including MUFG acting as Lead Social Loan Coordinator for SBI’s USD 1 billion social loan in 2023 and arranging a USD 500 million gender-themed syndicated loan to promote women’s economic empowerment.

13 Mar, 2026

SBI and MUFG Bank Sign Strategic Partnership to Strengthen India–Japan Financial TiesIn March 2026, the State Bank of India (SBI) signed a strategic partnership agreement with MUFG Bank, Ltd. (MUFG), a leading Japanese global financial institution, to strengthen cross-border capital flows, expand financing opportunities, and enhance economic cooperation between India and Japan.Overview of the Strategic Alliance:Purpose: The partnership combines SBI’s strong domestic presence in India with MUFG’s global network to support Japanese companies investing in India and Indian enterprises expanding into Japan and other international markets.Focus: The partnership focuses on Mergers and Acquisitions (M&A), aviation and real estate financing, along with M&A advisory, trade finance, and retail banking services.Alignment: The pact aligns with India-Japan Special Strategic and Global Partnership and Joint Vision for the Next Decade. It supports Viksit Bharat 2047 (Developed India by 2047 vision).Background: The partnership builds on earlier collaboration, including MUFG acting as Lead Social Loan Coordinator for SBI’s USD 1 billion social loan in 2023 and arranging a USD 500 million gender-themed syndicated loan to promote women’s economic empowerment.

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RBI Cancels CoR of 36 NBFCs; 9 NBFCs Voluntarily Surrender LicencesIn March 2026, the Reserve Bank of India (RBI) cancelled the Certificate of Registration (CoR) of 36 Non-Banking Financial Companies (NBFCs) as part of its regulatory actions, while 9 other NBFCs surrendered their licences due to business exits, structural changes, or mergers.RBI Regulatory Actions on NBFCs:Cancellation of 36 NBFCs: RBI cancelled the CoR of 36 entities between 16 and 24 February 2026, prohibiting them from conducting NBFC activities under the Reserve Bank of India Act, 1934, with key entities including Excellence Broking & Finance Pvt Ltd, Jibralter Traders Ltd, Bahubali Leasing Limited, and Wintech Telecom Pvt Ltd.Surrender of Licences by 9 NBFCs: Three companies KKR India Asset Finance Private Limited (Pvt Ltd), Manglam Vanijya Pvt Ltd, and Mechno Sales Agencies Pvt Ltd surrendered their CoR after deciding to exit the NBFC business, leading to cancellation by the RBI.Premier Ferro Alloys & Securities Limited surrendered its licence in February 2026 after meeting the criteria of an unregistered Core Investment Company (CIC), which does not require RBI registration.Five entities Unicon Suppliers Pvt Ltd, Atreyi Vincom Pvt Ltd, Hanuman Forging and Engineering Pvt Ltd, Upwards Capital Pvt Ltd, and Samuk Holding Pvt Ltd, surrendered their licences as they ceased to exist due to amalgamation, merger, dissolution or voluntary strike-off.

13 Mar, 2026

RBI Cancels CoR of 36 NBFCs; 9 NBFCs Voluntarily Surrender LicencesIn March 2026, the Reserve Bank of India (RBI) cancelled the Certificate of Registration (CoR) of 36 Non-Banking Financial Companies (NBFCs) as part of its regulatory actions, while 9 other NBFCs surrendered their licences due to business exits, structural changes, or mergers.RBI Regulatory Actions on NBFCs:Cancellation of 36 NBFCs: RBI cancelled the CoR of 36 entities between 16 and 24 February 2026, prohibiting them from conducting NBFC activities under the Reserve Bank of India Act, 1934, with key entities including Excellence Broking & Finance Pvt Ltd, Jibralter Traders Ltd, Bahubali Leasing Limited, and Wintech Telecom Pvt Ltd.Surrender of Licences by 9 NBFCs: Three companies KKR India Asset Finance Private Limited (Pvt Ltd), Manglam Vanijya Pvt Ltd, and Mechno Sales Agencies Pvt Ltd surrendered their CoR after deciding to exit the NBFC business, leading to cancellation by the RBI.Premier Ferro Alloys & Securities Limited surrendered its licence in February 2026 after meeting the criteria of an unregistered Core Investment Company (CIC), which does not require RBI registration.Five entities Unicon Suppliers Pvt Ltd, Atreyi Vincom Pvt Ltd, Hanuman Forging and Engineering Pvt Ltd, Upwards Capital Pvt Ltd, and Samuk Holding Pvt Ltd, surrendered their licences as they ceased to exist due to amalgamation, merger, dissolution or voluntary strike-off.

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RBI revises counterparty credit risk rules to align with Basel normsIn March 2026, the Reserve Bank of India (RBI) released the RBI (Commercial Banks – Prudential Norms on Capital Adequacy) Third Amendment Directions, 2026, revising its capital adequacy framework for commercial banks.The amendment introduces clearer guidelines for how banks should calculate and maintain capital to cover counterparty credit risk (CCR) exposures.Key HighlightsConsolidated Basis: A commercial bank needs to comply with the capital adequacy ratio requirements at two levels – the standalone level and the consolidated level.The Amendment provides that for computation of capital requirement on a consolidated basis, a bank shall include the CCR exposures of all such entities.Note: Counterparty Credit Risk (CCR) is the risk that the other party in a financial transaction (like derivatives or swaps) may default before the contract is settled.Add-on Factors: The most significant operational change is the revision of a table specifying add-on factors used to calculate Potential Future Exposure (PFE) for derivative contracts.

13 Mar, 2026

RBI revises counterparty credit risk rules to align with Basel normsIn March 2026, the Reserve Bank of India (RBI) released the RBI (Commercial Banks – Prudential Norms on Capital Adequacy) Third Amendment Directions, 2026, revising its capital adequacy framework for commercial banks.The amendment introduces clearer guidelines for how banks should calculate and maintain capital to cover counterparty credit risk (CCR) exposures.Key HighlightsConsolidated Basis: A commercial bank needs to comply with the capital adequacy ratio requirements at two levels – the standalone level and the consolidated level.The Amendment provides that for computation of capital requirement on a consolidated basis, a bank shall include the CCR exposures of all such entities.Note: Counterparty Credit Risk (CCR) is the risk that the other party in a financial transaction (like derivatives or swaps) may default before the contract is settled.Add-on Factors: The most significant operational change is the revision of a table specifying add-on factors used to calculate Potential Future Exposure (PFE) for derivative contracts.

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WHO Foundation and Novo Nordisk Partner to Combat Childhood Obesity in IndiaIn March 2026, the WHO Foundation, an independent organization established to support the mission of the World Health Organization (WHO), partnered with Novo Nordisk, a Danish multinational pharmaceutical company, to raise awareness and address the growing challenge of childhood obesity in India. Key Details of Partnership:Purpose:The partnership aims to reduce childhood obesity by promoting healthier lifestyles, strengthening early risk identification, and supporting obesity prevention and health-system readiness through a scalable school-based health programme.Key Focus Areas: The initiative will focus on selected districts in India and integrate health screening, lifestyle education, physical activity promotion and mental health support within school environments.Alignment: The programme aligns with the Ayushman Bharat – School Health and Wellness Programme, launched in 2018 under the Ministry of Health and Family Welfare (MoHFW) and Ministry of Education (MoE), and the WHO Health Promoting Schools framework.About WHO Foundation: It is an independent organisation established in 2020 and headquartered in Geneva, Switzerland.

13 Mar, 2026

WHO Foundation and Novo Nordisk Partner to Combat Childhood Obesity in IndiaIn March 2026, the WHO Foundation, an independent organization established to support the mission of the World Health Organization (WHO), partnered with Novo Nordisk, a Danish multinational pharmaceutical company, to raise awareness and address the growing challenge of childhood obesity in India. Key Details of Partnership:Purpose:The partnership aims to reduce childhood obesity by promoting healthier lifestyles, strengthening early risk identification, and supporting obesity prevention and health-system readiness through a scalable school-based health programme.Key Focus Areas: The initiative will focus on selected districts in India and integrate health screening, lifestyle education, physical activity promotion and mental health support within school environments.Alignment: The programme aligns with the Ayushman Bharat – School Health and Wellness Programme, launched in 2018 under the Ministry of Health and Family Welfare (MoHFW) and Ministry of Education (MoE), and the WHO Health Promoting Schools framework.About WHO Foundation: It is an independent organisation established in 2020 and headquartered in Geneva, Switzerland.

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