National Affairs

First Edition of Bharat Electricity Summit 2026 Held in New Delhi; Launches Carbon Market Portal

In March 2026, the first edition of the Bharat Electricity Summit (BES 2026) was held from March 19–22, 2026 at Yashobhoomi, Dwarka, New Delhi, bringing together global stakeholders to strengthen India's energy transition and power sector reforms.

• Inauguration: The Summit was inaugurated by Union Minister Manohar Lal, Ministry of Power (MoP).
• Theme: "Electrifying Growth. Empowering Sustainability. Connecting Globally"
• Organiser: Bureau of Energy Efficiency (BEE) under MoP, aligning India's energy sector with the vision of Viksit Bharat 2047.
• Key Launch: The Indian Carbon Market Portal (www.indiancarbonmarket.gov.in) — a central platform for implementing and administering the carbon market — was launched.
• Bilateral Outreach: The Summit facilitated high-level bilateral meetings with Malawi, Tajikistan, Mauritius, Kyrgyzstan, and Russia, along with key industry stakeholders.
• Next Edition: BES 2028 will be held in Gandhinagar, Gujarat.

GoI Introduces CGSMFI 2.0 to Facilitate Credit Flow to Microfinance Institutions

The Government of India (GoI) introduced the Credit Guarantee Scheme for Microfinance Institutions 2.0 (CGSMFI-2.0) to facilitate increased credit flow to Microfinance Institutions (MFIs).

• Purpose: To provide guarantee cover to Member Lending Institutions (MLIs) against expected losses on financial assistance extended to Non-Banking Financial Company (NBFC)-MFIs for on-lending to small borrowers.
• Beneficiaries: Approximately 36 lakh borrowers expected to benefit.
• Managed by: National Credit Guarantee Trustee Company (NCGTC), wholly owned by the Department of Financial Services, Ministry of Finance (MoF).
• Effective from: 20.03.2026
• Tenure: Valid till 30.06.2026 or till loan guarantees of Rs 20,000 crore are issued, whichever is earlier.

FSI & BISAG-N Sign MoU to Boost Use of Geospatial Technologies in Forestry

The Forest Survey of India (FSI) under the Ministry of Environment, Forest and Climate Change (MoEFCC) signed a Memorandum of Understanding (MoU) with the Bhaskaracharya National Institute for Space Applications and Geo-informatics (BISAG-N) to enhance the use of geospatial technologies in forestry and environmental management.

• Signed During: The 90th meeting of the Standing Committee of the National Board for Wildlife (SC-NBWL), chaired by Union Minister Bhupendra Yadav (MoEFCC), in Dehradun, Uttarakhand.
• Objective: To strengthen the use of geospatial technologies, remote sensing, and AI/ML-based tools for enhanced forest management, wildlife conservation, and data-driven decision support systems.
• Significance: The collaboration is set to enhance India's capabilities in forest assessment, biodiversity conservation, and climate change monitoring.
• About SC-NBWL: It is a statutory body formed under the Wild Life (Protection) Act, 1972, advising the government on conservation and protection of wildlife and forests.

GoI Establishes Rare Earth Magnet Pilot Plant at ARCI, Hyderabad

The Government of India (GoI) established a pilot plant for manufacturing Neodymium-Iron-Boron (Nd-Fe-B) rare earth permanent magnets at the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI) under the Department of Science and Technology (DST), Ministry of Science & Technology (MoS&T), in Hyderabad, Telangana.

• Inaugurated by: Prof. Abhay Karandikar, Secretary of DST, along with Dr. R. Vijay, Director of ARCI.
• Technology: Uses an end-to-end process — from strip-cast alloy production to finished sintered magnets — enabling a robust and self-reliant manufacturing system.
• Technology Validation: The plant will serve as a critical platform for:
• Technology validation & process optimization
• Industry collaboration & demonstration
• Promoting indigenous innovations to commercial manufacturing
• Supporting deep-tech startups and private sector participation
• Significance: These high-performance magnets are essential for Electric Vehicles (EVs), Renewable Energy (RE) systems, and advanced electronics, and the initiative is expected to reduce import dependence while strengthening India's position in the global rare earth supply chain.

RRU & SSB Academy Sign MoU to Enhance National Security Training

Rashtriya Raksha University (RRU), an Institution of National Importance (INI) under the Ministry of Home Affairs (MHA), signed a Memorandum of Understanding (MoU) with the Sashastra Seema Bal (SSB) Academy in New Delhi to strengthen national security training and capacity building.

• Purpose: Designed to bridge the gap between academic research in national security and the practical, on-ground requirements of border guarding forces.
• RRU Role: Will offer academic accreditation for training programs conducted at the SSB Academy.
• Key Activities: Both institutions will facilitate the exchange of resources, including faculty expertise, pedagogical tools, and specialized training facilities.
• Framework Implementation: RRU will review the existing curriculum at SSB establishments and jointly develop additional course content for degree and diploma programmes. A robust assessment and grading framework will be established for academic compliance.

International Affairs

Global Terrorism Index 2026: Pakistan Most Affected; India Ranked 13th

The Australian think tank Institute for Economics and Peace (IEP) published the Global Terrorism Index (GTI) 2026, indicating a significant shift in the global security landscape.

• Top Finding: For the first time ever, Pakistan is ranked as the country most impacted by terrorism — Score: 8.574 | 1,139 deaths | 1,045 incidents in 2025 (highest fatality levels since 2013).
• India's Rank: 13th with an overall score of 6.428.
• Methodology: GTI score ranges from 0 (no impact) to 10 (highest measurable impact) based on a composite score.

• Global Trends:
• Terrorist incidents in 2025 were nearly six times higher than in 2020.
• However, terrorism-related incidents decreased by 22% to 2,944 — the lowest since 2007.
• Global terrorism deaths declined by 28% to 5,582 in 2025.

India and Bhutan Sign MoU to Strengthen Postal Cooperation

India and Bhutan signed a Memorandum of Understanding (MoU) in Thimphu, Bhutan, to strengthen bilateral cooperation in the postal sector.

• Signed During: The visit of Vandita Kaul, Secretary (Posts), Ministry of Communications, to Bhutan (March 19–22, 2026).
• Framework: Collaboration between India Post and Bhutan Post across postal operations, technology development, capacity building, logistics, e-commerce, financial services, philately, and knowledge exchange.
• Implementation: Bhutan Postal Corporation Limited (for Bhutan) and Department of Posts (DoP) under the Ministry of Communications (for GoI).
• Key Initiative: Launch of the Universal Postal Union–Unified Payments Interface (UPU–UPI) cross-border digital remittance system.

Indian Navy Participates in 'Exercise KAKADU 2026' in Australia

The Indian Navy (IN) frigate INS Nilgiri participated in the sea phase of Exercise Kakadu 2026 in Australia, as part of its deployment to the Western Pacific.

• 2026 Edition: The 17th edition witnessed participation from over 19 nations and 6,000 personnel, covering a vast area from Jervis Bay to Darwin, Australia.
• Kakadu Fleet Review: Held in Sydney Harbour, New South Wales on 21st March 2026 — the largest gathering of foreign warships in over a decade, commemorating the 125th anniversary of the Royal Australian Navy (RAN).
• India's Participation: INS Nilgiri took part in coordinated naval manoeuvres off northern Australia, alongside warships from Malaysia, Philippines, and Thailand.
• Achievement: The crew of INS Nilgiri won the Kakadu Shield Trophy during sporting events held in the harbour phase at Darwin.

Appointments & Resignations

South Indian Bank Appoints Jose Joseph Kattoor as Part-Time Chairman

On March 23, 2026, South Indian Bank (SIB) appointed Jose Joseph Kattoor, a former Executive Director (ED) of the Reserve Bank of India (RBI), as the Non-Executive Part-Time Chairman (Independent Director) for a three-year term, in compliance with the Banking Regulation Act, 1949, following RBI approval.

• Succeeds: V. J. Kurian, whose tenure concluded on March 22, 2026.
• Experience: Over three decades in central banking and financial regulation.
• RBI Tenure (1991–2023): Led key departments including Enforcement, Corporate Strategy, Currency Management, and Human Resources. Retired as ED.
• SIB Association: Has been an Independent Director at SIB since July 2024.

City Union Bank Appoints Ravindra Jadeja as Brand Ambassador

City Union Bank Limited (CUB) appointed Indian cricketer Ravindrasinh Anirudhsinh Jadeja as its brand ambassador for a period of two years.

• Objective: To strengthen the bank's visibility and connect with a broader customer base across India.
• Partner: Agreement executed in association with Baseline Ventures India Private Limited.
• Disclosure: Announced under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Acquisitions & Mergers

Kotak Mahindra Bank's KMCC to Divest 30.99% Stake in Infina Finance for Rs 1,293.91 Crore

Kotak Mahindra Capital Company Limited (KMCC), a wholly-owned subsidiary of Kotak Mahindra Bank Limited (KMBL), entered into definitive agreements to divest 30.99% of its shareholding in Infina Finance Private Limited (Infina) for an aggregate value of Rs 1,293.91 crore.

• Expected Completion: By March 31, 2026.
• Impact: Infina ceases to be an associate company of the bank. KMCC's shareholding in Infina will reduce from 49.99% to 19%.
• About Infina: Established in 1996, Infina is an NBFC offering products like loan against securities, commercial real estate finance, among others.

Obituary

Veteran BJP Leader and Former MP 'Datta Meghe' Passed Away

Veteran Bharatiya Janata Party (BJP) leader and former Member of Parliament (MP) Datta Meghe passed away at the age of 89 in Maharashtra. He was born on November 11, 1936, in Pawnar village, Wardha district, Maharashtra.

• Political Career: Spanned over five decades across multiple legislative bodies.
• MLC Role: First elected to the Maharashtra Legislative Council (MLC) in 1978; served three consecutive terms until 1991.
• Parliamentary Role: Four-time Lok Sabha MP from Nagpur, Ramtek, and Wardha; also served as a Rajya Sabha member from 2002 to 2008.

State News

HP CM Sukhvinder Singh Sukhu Presents Rs 54,928 Crore Budget for FY27

Chief Minister Sukhvinder Singh Sukhu presented his fourth budget of Rs 54,928 crore for FY 2026-27 in the Legislative Assembly (Vidhan Sabha) in Shimla, Himachal Pradesh. The budget has contracted by Rs 3,586 crore compared to the previous fiscal year's Rs 58,514 crore.

• Focus Areas: Fiscal consolidation, social welfare, green energy, rural development, and employment generation.

Sector-Wise Allocation:

Important Days at a Glance