National Affairs

Union Minister Ashwini Vaishnaw Launches National AI Skilling Initiative, MyWAVES, In-built TV Tuner and Advanced EPG

In March 2026, Union Minister Ashwini Vaishnaw, Ministry of Information & Broadcasting (MIB), launched three major initiatives in New Delhi, Delhi:

• National AI Skilling Programme: Launched in partnership with Google and YouTube, the programme is designed to train 15,000 participants from the creative and media sectors. It is being implemented through the Indian Institute of Creative Technologies (IICT).
• MyWAVES: Introduced as a new feature within the WAVES OTT platform, it will allow citizens to create, upload, and share content.
• Advanced EPG & In-built Satellite Tuner in TV Sets: This initiative will enable viewers to watch DD Free Dish channels directly on their TV sets without the need for a separate set-top box, thereby reducing additional costs, wiring, and the hassle of multiple remotes.

MoRD Launches Real-time Internal Audit Portal to Revolutionize Governance and Oversight

The Ministry of Rural Development (MoRD) announced the operationalization of a comprehensive Internal Audit Portal, aimed at transitioning from conventional manual audit processes to a real-time, centralized digital system.

• Developed by: National Informatics Centre (NIC) under the Ministry of Electronics and Information Technology (MeitY).
• Integration: The portal integrates Secretary-level access, enabling direct monitoring of audit performance across departments and helping senior leadership identify administrative bottlenecks and make evidence-based decisions.
• Key Features:
• Provides visibility into audit status, Action Taken Reports (ATRs), and pending compliance.
• Generates automated alerts to address delays in compliance.
• Offers secure, need-based access controls, ensuring data integrity while allowing cross-departmental coordination.
• Significance: The operationalization of the portal will reduce the 'compliance gap' by enhancing the speed at which audit observations are resolved.

NITI Aayog Sanctions Rs 1.55 Crore to RISE Centre for Skill Development and Women-led Enterprise

The National Institution for Transforming India (NITI Aayog) sanctioned Rs 1.55 crore as financial assistance to support programmes at the Rural Incubation, Skilling and Entrepreneurship (RISE) Centre at Guntupalli, Ibrahimpatnam mandal, NTR district, Andhra Pradesh.

• Use of Funds: Artificial Intelligence (AI)-based skills survey, skill development and training programmes, and strengthening infrastructure at the RISE Centre.
• Key Accomplishments:
• Over 1,000 women already trained in domains like AI, spoken English, paper crafts, solar panel installation, among others.
• More than 300 families have started their small enterprises with support from the initiative.
• Aligns with: Andhra Pradesh's government vision of 'One Family–One Entrepreneur' and Swarnandhra Vision @2047.

Banking & Finance

SEBI Announces Major Reforms at Its 213th Board Meeting in Mumbai

The Securities and Exchange Board of India (SEBI) approved a wide-ranging set of regulatory changes covering market intermediaries, foreign investors, alternative investment funds (AIFs), and governance norms at its 213th board meeting held in Mumbai, Maharashtra.

Social Impact Funds (SIF):

• What is SIF: A sub-category of Category-I AIF introduced in July 2022, primarily investing in Not-for-Profit Organizations (NPOs) registered or listed on the Social Stock Exchange (SSE) and in for-profit social enterprises.
• Key Amendment: The Board approved amendments to SEBI (AIF) Regulations, 2012 to reduce the minimum value of investment by individual investors in SIF of AIF to Rs 1,000 from the existing Rs 2 lakh.

Winding Up Schemes:

• Flexibility: The Board introduced flexibility for AIFs in winding up schemes and surrendering registration.
• Procedure: AIFs will now be allowed to retain liquidation proceeds beyond the tenure under specific conditions such as pending litigation, tax liabilities, or operational expenses.

L&T Finance Becomes Signatory to United Nations Global Compact

L&T Finance Ltd. (LTF) became a signatory to the United Nations Global Compact (UNGC), marking a key step in strengthening its sustainability and Environmental, Social, and Governance (ESG) framework.

• Strategic Commitment: The move reaffirms LTF's ethical practices and aligns its long-term strategy with UNGC principles on human rights, labour, environment, and anti-corruption.
• Annual Reporting: LTF will report annually on its progress in implementing the 'Ten Principles of the Global Compact.'
• Climate Commitment: LTF is also a signatory to the Partnership for Carbon Accounting Financials (PCAF) to measure and manage financed emissions.

Economy & Business

Goldman Sachs Lowers India's GDP Growth Rate Forecast to 5.9% for CY26

Goldman Sachs lowered India's Gross Domestic Product (GDP) growth forecast to 5.9% in Calendar Year 2026 (CY26), down from its pre-Iran war forecast of 7%.

Razorpay Partners with Sarvam AI to Launch Voice-Led Multilingual Digital Commerce in India

Razorpay, an Indian fintech company, partnered with Sarvam AI, an Indian AI startup, to introduce voice-led, multilingual digital commerce solutions in India.

• Purpose: To enable users to discover products, place orders, and complete payments through voice commands in their preferred language.
• Technology Integration: Sarvam AI's models and agentic technology stack will be integrated with Razorpay's payment infrastructure to enable AI agents that understand multilingual conversational inputs and execute real-time transactions.
• Pilot & Rollout: The feature will initially roll out on Sarvam AI's Indus App, with Swiggy as an early partner enabling voice-based food ordering, while a pilot is already live on The Derma Co website for voice-based product browsing and purchases.

Awards & Recognitions

Karnataka Grameena Bank Receives National Award for SHG-Bank Linkage 2024-25

The Ministry of Rural Development (MoRD) conferred the National Award for Outstanding Performance in Self-Help Groups (SHG)-Bank Linkage 2024-25 to Karnataka Grameena Bank (KGB) for its significant contribution to rural economic empowerment and financial inclusion.

• Award Presentation: Union Minister Shivraj Singh Chouhan (MoRD) presented the award to V. M. Rukmini Devi, General Manager (GM) of KGB, during the National Conference on Financial Literacy and Capacity Building and the 25th Central Level Coordination Committee (CLCC) meeting held in Hyderabad, Telangana.
• SHG Support: Aligned with the objectives of Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM), the bank has extended Rs 2,835 crore credit to 80,904 SHGs.
• About KGB: It is a Regional Rural Bank (RRB) formed on 1 May 2025 through the amalgamation of Karnataka Gramin Bank and Karnataka Vikas Grameena Bank; headquartered in Ballari, Karnataka, and sponsored by Canara Bank.

Appointments & Resignations

CA P.V. Narayana Rao Appointed Co-opted Member of ICAI's SRSB for 2026-27

On 23rd March 2026, Chartered Accountant (CA) P.V. Narayana Rao was appointed as a Co-opted Member of the Sustainability Reporting Standards Board (SRSB) of the Institute of Chartered Accountants of India (ICAI) for the term 2026-27.

• Key Roles: Served as Chairman of the ICAI Warangal Branch in 2015 and was later appointed as a Co-opted Member of the Public Relations Committee of ICAI (Central Council) in 2016.
• Current Role: Serving as Vice President of the Telangana and Andhra Pradesh Tax Bar Association (TAPTB Association).
• About SRSB: Established by ICAI (a statutory body under the Chartered Accountants Act, 1949) in February 2020 to develop globally aligned sustainability frameworks and reporting standards aligned with the United Nations Sustainable Development Goals (SDGs) 2030.

Acquisitions & Mergers

Svatantra Microfin Completes Amalgamation with CIFCPL & Svatantra Holding

Svatantra Microfin Private Limited (SMPL) completed its amalgamation with Chaitanya India Fin Credit Private Limited (CIFCPL) and Svatantra Holding Private Limited (SHPL), forming the 2nd largest Non-Banking Financial Company–Microfinance Institution (NBFC-MFI) in India.

• Approval: The merger was approved by the National Company Law Tribunal (NCLT), Mumbai, along with clearances from the Reserve Bank of India (RBI), Competition Commission of India (CCI), and BSE Limited.
• Integration: The merger integrates the operations of Svatantra Microfin, CIFCPL, and its holding entity.
• Corporate Restructuring: As part of the restructuring, Svatantra Micro Housing Finance Corporation Limited (SMHFCL) became a wholly owned subsidiary of SMPL, enabling the group to offer a wider product portfolio including microloans and secured housing finance.

Environment

ZSI Scientists Discover New Cockroach Species 'Neoloboptera peninsularis' in Maharashtra

Scientists from the Zoological Survey of India (ZSI) discovered a new species of cockroach, named 'Neoloboptera peninsularis', in the agricultural areas of the Deccan Peninsula, specifically in Nathachiwadi, Pune, Maharashtra. The discovery was published in the scientific journal 'Records of ZSI'.

• Naming: Named after Peninsular India.
• Method: The study used integrative taxonomy, combining morphological analysis, genitalic study, Deoxyribonucleic Acid (DNA) barcoding, and phylogenetic analysis — marking it as the first DNA-based cockroach identification in India.
• Features: The species, belonging to the genus Neoloboptera, features a glossy yellowish-brown body, fully developed wings, asymmetrical cerci, and a distinctive whip-like male genital structure.
• Records: It is the third species of the genus Neoloboptera recorded in India, raising the total cockroach species count to 190 (about 3.8% of global cockroach diversity), and confirming it as endemic to India.

Obituary

French Former PM Lionel Jospin, Architect of 35-hour Week, Passed Away

Former Prime Minister (PM) of France Lionel Robert Jospin passed away at the age of 88 in Paris, France. He was born on 12 July 1937 in Meudon, near Paris, France.

• Political Career: In 1981, he was appointed head of the Socialist Party by President Francois Mitterrand.
• PM Tenure: Served as PM of France from 1997 to 2002 under President Jacques Chirac.
• Key Reforms:
• Enacted the Parity Law and introduced Civil Unions (CU) for both LGBTQ+ and heterosexual couples.
• Reduced the work week from 39 hours to 35 hours.

Important Days at a Glance