Current Affairs 1 April 2026

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NATIONAL AFFAIRS

NSO Released Publication “Energy Statistics India 2026”
On March 30, 2026, the National Statistics Office (NSO), under the Ministry of Statistics and Programme Implementation (MoSPI), released the 33rd edition of its annual publication, “Energy Statistics India 2026″. 

• • The report provides a comprehensive dataset on India’s energy reserves, capacity, production, and consumption and import/export of all the energy commodities, including: Coal, Lignite, Petroleum, Natural Gas (PNG), Renewable Energy (RE), among others,  of India, along with analytical tools like energy balance tables,  sankey diagrams,  and Sustainable Energy Indicators as per International Standards for the Financial Year 2024-25 (FY25).

About Energy Statistics 2026:
Key Highlights
Surge in RE Potential: The publication highlighted a significant surge in India’s Renewable Energy (RE) potential, which stood at 47,04,043 MegaWatt(MW) as on March 31, 2025.

• Among all the RE sources in India, Solar Energy dominated this segment, with a staggering growth of 33,43,378 MW (during FY: 2024-25) (around 71% of total potential);  followed by Wind Power (11,63,856 MW) and Large Hydro (1,33,410 MW).

Credit Flow: The publication revealed that the  Credit Flow to the energy sector in India has increased more than 6-times i.e. from an amount of Rs 1,688 crore (in 2021) to Rs 10,325 crore (in 2025)
Regional Concentration: The report noted that over 70% of India’s total potential for generation of RE is concentrated in six states viz. Rajasthan (23.70%), Maharashtra (14.26%), Gujarat (9.10%), Andhra Pradesh (9.1%), Karnataka (8.59%) and Madhya Pradesh(8.09%).

MeitY Approves 29 Projects Worth Rs 7,104 Crore under 4th Tranche of ECMS
In March 2026, the Ministry of Electronics and Information Technology (MeitY) approved 29 proposals under the 4th tranche of Electronics Components Manufacturing Scheme (ECMS) with a projected investment of Rs 7,104 crore and projected production of Rs 84,515 crore to generate 14,246 direct employment opportunities.

• Following the earlier approval of 46 applications worth Rs. 54,567 crore, a total of 75 applications have now been approved under ECMS, with expected investments of Rs. 61,671 crore and direct employment for 65,040 people.

Approvals of Electronics Manufacturing:
Coverage: Approvals span 16 products with cross-sectoral applications across mobile, telecom, consumer electronics, automotive, strategic electronics, and Information Technology (IT) hardware.
Components:

• 1 sub-assemblies: Display Modules
• 11 bare components: Antennas, Capacitors, Connectors, Heat Sinks, Li-ion Cells, Relays, Resistors, Transducers, SMD Passives, Flexible PCB and Inductors
• 3 supply chain items: Laminates, Metallized films for Capacitors and Rare Earth Permanent Magnets
• Capital Goods and their parts

Investment: Major investments include Rs.1,683 crore in capital goods (6 proposals) and Rs.1,350 crore in display module manufacturing (2 proposals).

PM E-DRIVE Subsidy Extended till July 31, 2026 for Electric Two-Wheelers

In March 2026, the Ministry of Heavy Industries (MHI) extended the demand subsidy for electric two-wheelers (e-2Ws) under the Prime Minister’s Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme till July 31, 2026, providing an additional four months beyond March 31, 2026.

About Extension of PM E-DRIVE Scheme:

Extension: Subsidy for e-2Ws overall scheme continues till 31 March 2028, with electric three-wheelers (e-3Ws) supported throughout the scheme period.

Outlay: Total allocation of Rs. 10,900 crore, including Rs. 3,679 crore for demand incentives and Rs. 7,171 crore for e-buses, charging infrastructure, and testing facilities.

Incentive: Incentives are processed through the VAHAN (National Vehicle Registration) portal, offering Rs. 2,500 per kWh (kilowatt-hour) capped at Rs. 5,000 per vehicle for models priced up to Rs. 1.5 lakh to reduce upfront costs.

Coverage: Targets 24.79 lakh e-2Ws, with 22.12 lakh electric vehicles (EVs)sold (including 19.19 lakh e-2Ws and 2.93 lakh e-3Ws) as of January 2026.

CCRAS Signs MoU with Anuvadini AI to Translate Ayurveda Research into 13 Languages

In March 2026, the Central Council for Research in Ayurvedic Sciences (CCRAS), under the Ministry of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, Homeopathy), signed a Memorandum of Understanding (MoU) with Anuvadini AI, an Artificial Intelligence (AI) voice-to-voice translation platform, to translate evidence-based Ayurveda research accessible in 13 regional languages, including Hindi.

• The MoU was signed by Professor Vaidya Rabinarayan Acharya, Director General (DG) of CCRAS, and Dr. Buddha Chandrasekhar, Chief Executive Officer (CEO) of Anuvadini AI.

About CCRAS–Anuvadini MoU:

Objective: Expand access to evidence-based Ayurveda knowledge, overcome language barriers, and ensure equitable dissemination across India.

Technology: Utilize AI-based translation by Anuvadini, developed by the All India Council for Technical Education (AICTE) under Ministry of Education (MoE).

Translation: CCRAS, the apex Ayurveda research body with 30 institutes across 25 states, will use AI to translate its research outputs, CCRAS Bulletin, and Information, Education and Communication (IEC) materials into 13 regional languages for wider accessibility.

DGCA and Gati Shakti Vishwavidyalaya Signed MoU to Train Youth in Aviation

In March 2026, the Directorate General of Civil Aviation (DGCA), Ministry of Civil Aviation (MoCA) signed a Memorandum of Understanding (MoU) with Gati Shakti Vishwavidyalaya (GSV), Ministry of Railways (MoR) to enhance skill development in the aviation sector, including Aviation Engineering and Aviation Management.

• The MoU was signed by Director General (DG) Faiz Ahmed Kidwai, DGCA  and Vice Chancellor Professor Manoj Choudhury, GSV, in the presence of Union Minister Kinjarapu Rammohan Naidu, MoCA and Ashwini Vaishnaw, MoR.

About MoU between DGCA and GSV:

Objective: Develop skilled manpower for the aviation and Maintenance, Repair and Overhaul (MRO) sector while strengthening industry–academia collaboration and bridging key gaps.
Program: Launch a 3-year Bachelor of Science (B.Sc.) in Aviation Maintenance Engineering (AME) from August 2026 (2026–27), integrating academic knowledge, DGCA standards, and industry requirements.
Curriculum: Align training with Civil Aviation Requirements (CAR)-66 and CAR-147 frameworks while advancing research in Sustainable Aviation Fuels (SAF), aircraft maintenance, parts manufacturing, and capacity building of DGCA officials.
Growth: Support Aatmanirbhar Bharat and Viksit Bharat goals amid rapid expansion with over 240 MRO units, ~1700 aircraft orders, a projected fleet of 3000 by 2036, and demand for 10,000–12,000 pilots.

MoD & BEL Sign Rs 1,950 Crore Contract for Mountain Radars for IAF

In March 2026, the Ministry of Defence (MoD) signed a capital acquisition contract worth Rs 1,950 crore with Bharat Electronics Limited (BEL) for the procurement of two Mountain Radar systems for the Indian Air Force (IAF).

• The contract was signed in New Delhi (Delhi) under the Buy (Indian–Indigenously Designed, Developed and Manufactured, IDDM) category, reinforcing the Aatmanirbhar Bharat and Make in India initiatives.

About the Mountain Radar System:

Development: It was indigenously designed by Electronics and Radar Development Establishment (LRDE) under the Defence Research and Development Organisation (DRDO) and manufactured by Bharat Electronics Limited (BEL) to boost domestic defence capabilities.
Features: Designed for high-altitude terrain to overcome line-of-sight and harsh weather challenges while detecting fighter aircraft, drones, and cruise missiles.
Operations: Enhances border surveillance, early warning, situational awareness, and response time within the integrated air defence network.
Significance: Strengthens national security, reduces import dependence, promotes indigenous manufacturing, and supports domestic industries and Micro, Small, and Medium Enterprises (MSMEs) with employment and technological advancement.

Government Extends PM KUSUM Project Deadline to March 2027

In March 2026, the Ministry of New and Renewable Energy (MNRE) extended the timeline for commissioning certain projects under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) scheme, providing relief to developers and state agencies.

Key Highlights:

Eligibility: The extension applies to projects where Power Purchase Agreements (PPAs) or Letters of Intent (LoIs) were signed or issued on or before December 31, 2025.

Revised Timeline: The commissioning deadline has been extended to March 31, 2027.

Scheme Target: The scheme aims to add 34,800 MW of solar capacity with central financial assistance of Rs 34,422 crore, originally targeted for completion by March 2026.

About PM KUSUM Scheme: The PM-KUSUM, launched in 2019, aims to promote solar energy use in agriculture and reduce dependence on diesel and grid electricity.

• Under its funding pattern, the Central and State Governments each provide 30% subsidy, while farmers contribute 40% (with provision for bank loans), ensuring affordability and wider participation.

BANKING & FINANCE

MoF Keeps Interest Rates on Small Savings Schemes Unchanged for Q1FY27
In March 2026, In March 2026, the Department of Economic Affairs (DEA-Budget Division) under the Ministry of Finance (MoF) retained interest rates unchanged across all Small Savings Schemes (SSS) for the 1st Quarter of Financial Year 2026–27 (Q1FY27), i.e., from April 1, 2026 to June 30, 2026, as per the rates notified for Q4FY26.

Overview of Post Office Savings Schemes:

SSY: Sukanya Samriddhi Yojana (SSY) offers 8.2% interest, allows a guardian to open an account for a girl child below 10, with Rs. 250–Rs. 1,50,000 yearly deposits, Section 80C benefits, and  Exempt-Exempt-Exempt (EEE) tax status (tax free).
PPF: Public Provident Fund (PPF) provides 7.1% interest with a Rs. 1.5 lakh annual limit, 15-year lock-in, and tax-free maturity under Section 80C.
SCSS: Senior Citizen Savings Scheme (SCSS) yields 8.2% interest, is designed for retirees, and ensures regular income with high safety.
NSC: National Savings Certificate (NSC) offers 7.7% interest with a 5-year lock-in, where reinvested interest qualifies for Section 80C deduction.
KVP: Kisan Vikas Patra (KVP) provides 7.5% interest, doubles investment in 115 months, and has no maximum deposit limit.

RBI Extends Implementation of Revised CME framework to July 01, 2026
In March 2026, the Reserve Bank of India (RBI) extended the implementation of its revised Capital Market Exposure (CME) framework by another 3 months to July 01, 2026 (originally scheduled for April 01, 2026).

• In February 2026, RBI issued the final Amendment Directions on CME, aimed to provide an enabling framework for banks to finance acquisitions by Indian corporates; rationalize the limits for lending by banks to individuals against shares, units of REITs, InvITs, among others, and introduce a principle-based framework for lending to Capital Market Intermediaries (CMIs).

Other Key Changes:
Modified Definition of Acquisition Finance:RBI has also modified the definition of acquisition finance which now includes the mergers and amalgamations. RBI has further clarified that acquisition finance may be extended only to acquiring control over non-financial target companies.
Loans Against Securities: As per RBI directions, the new rules will now apply limits on loans against eligible securities across the banking system, restricting them at Rs 1 crore  per individual and Rs 25 lakh for Initial Public Offering (IPO)-related loans, Follow-on-Public Offer (FPOs) and Employee Stock Ownership Plan (ESOP) subscriptions.

IRDAI Mandates India’s Insurers to Adopt Ind AS from April 01, 2026

In March 2026, the Insurance Regulatory Development Authority of India (IRDAI) mandated insurers to prepare and present financial statements in accordance with applicable Indian Accounting Standards (Ind AS) effective from April 01, 2026.

• • The decision was taken during the IRDAI’s 135th meeting, which has approved the Insurance Regulatory and Development Authority of India (IRDAI) (Actuarial, Finance, and Investment Functions of Insurers) (Amendment) Regulations, 2026.

Key Details:

Applicability: IRDAI has clarified that the implementation of Ind AS will apply to all categories of insurers which include life, general, stand alone health insurers and reinsurers.

Reporting Time Period: IRDAI approved new regulations providing parallel reporting for a period of 2 years, or such period as may be specified by authority, covering financial statements prepared in accordance with Ind AS alongside financial information under the existing accounting framework.

RBI Imposes Rs 31.80 Lakh Penalty on Airtel Payments Bank

In March 2026, the Reserve Bank of India (RBI) imposed a monetary penalty of Rs 31.80 lakh on Airtel Payments Bank Limited for non-compliance with regulatory directions related to Disclosure in Financial Statements for the Financial Year 2024-25 (FY25).

RBI Penalty Action:

Legal Basis: The penalty was imposed by RBI under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

Inspection: RBI conducted the Statutory Inspection for Supervisory Evaluation (ISE 2025) based on the bank’s financial position as of March 31, 2025.

Violation: The penalty was imposed after confirming non-compliance with RBI directions based on supervisory findings.

Clarification: The action pertains only to regulatory compliance deficiencies and does not affect the validity of customer transactions or agreements.

SCIENCE & TECHNOLOGY

GRSE Kolkata Delivered Three Frontline Warships, Dunagiri, Sanshodhak and Agray  to IN 
In March 2026,Garden Reach Shipbuilders and Engineers Ltd (GRSE),  Indian Defence Public Sector Unit (PSU) delivered three frontline platforms: advanced guided missile frigate ‘Dunagiri’, the survey vessel ‘Sanshodhak’, and anti-submarine warfare shallow watercraft ‘Agray’, to the Indian Navy (IN).

• These deliveries marked a major milestone for indigenous defence manufacturing, enhancing the IN’s capabilities in strike, survey, and anti-submarine warfare.

Key Details: 
Dunagiri(Yard 3023): It is the second Nilgiri-Class stealth frigate built under Project 17A after Indian Naval Ship (INS) Nilgiri.
INS Sanshodhak (Yard 3028): It is the 4th and last Survey Vessel Large (SVL), bolsters INs hydrographic and survey capabilities.

Agray– ASW-SWC: Launched on March 13, 2024, it is the fourth of eight ASW SWC, and is designed for coastal defence operations.

OBITUARY

Former Suriname President Chandrikapersad Santokhi Passed Away
In March 2026, former President of Suriname Chandrikapersad “Chan” Santokhi, a prominent leader of the Indian diaspora, passed away at the age of 67.

• He served as the President of Suriname from 2020 to 2025, a period marked by significant economic reforms and a deepening of ties with India.

About Chandrikapersad Santokhi:
Honour: He was honoured with the Pravasi Bharatiya Samman, (the Highest Indian award for Overseas Indian or institutions, instituted by the Ministry of External Affairs, MEA), on 9 January 2021 during the Pravasi Bharatiya Divas.
Significance: Became the first Surinamese President to take oath in Sanskrit, symbolising strong cultural links with India and highlighting the role of the Indian diaspora.

STATE NEWS

SCAP, CSIR-NIScPR Sign MoU to Strengthen Science Communication and Evidence‑Based Policymaking
In March 2026, the Science City of Andhra Pradesh (SCAP) which works under the Department of Infrastructure and Investment (DII) of Andhra Pradesh (AP) Government, signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research-National Institute of Science Communication and Policy Research (CSIR-NIScPR), in New Delhi (Delhi).
Key Details of MoU:
Aim: The newly signed MoU aims to bolster science communication, promote research collaboration, and support evidence-based policymaking in Science, Technology and Innovation (STI).
Nodal Officers: Dr. Geetha Vani Rayasam, Director of CSIR-NIScPR; Dr. Yogesh Suman and Dr. NK Prasanna, will serve as nodal officers for future initiatives.
Key Features: The MoU  outlines key activities/programmes to promote STI in state, including joint research projects, outreach programmes, and development of educational content, mentorship support, and promotion of scientific journals and knowledge resources.
CSIR-NIScPR: It is a constituent laboratory which works under CSIR, Ministry of Science and Technology (MoST).

• It formally came into existence on April 01, 2021, following the merger of erstwhile CSIR-National Institute of Science Communication and Information Resources (CSIR-NISCAIR) and CSIR-National Institute of Science, Technology and Development Studies (CSIR-NISTADS).

Punjab CM-led Cabinet Approves Mukh Mantri Mawan Dheeyan Satkar Yojana
In March 2026, the Punjab Cabinet, led by Bhagwant Singh Mann, Chief Minister (CM) of Punjab, approved  a new women-centric scheme named “Mukh Mantri Mawan Dheeyan Satkar Yojana (MMMDSY)” in the state.

• The scheme marks a major step towards ensuring direct economic support to women across the state.

About MMMDSY:
Budget: The Punjab government sanctioned Rs 9,300 crore for the scheme in the state budget for Financial Year 2026-27 (FY27), which was presented in the legislative assembly in March 2026.
DBT Initiative: This newly approved scheme is designed as a Direct Benefit Transfer (DBT) initiative. Under which, funds will be transferred directly into the bank accounts of eligible women beneficiaries.
Eligibility Criteria: The new scheme is expected to benefit nearly 97% of adult women in the state. Women aged 18 years or above; registered as a voter in Punjab.
Monthly Financial Assistance: The state government will provide monthly financial assistance of Rs 1,000 to all women in the state, while Scheduled Caste(SC) women will get Rs 1,500 per month.

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