National Affairs

Pradhan Mantri MUDRA Yojana Completes 11 Years of Empowering Small and Micro Entrepreneurs
On April 8, 2026, the Pradhan Mantri MUDRA Yojana (PMMY), a transformative initiative of the Government of India designed to empower grassroots entrepreneurs, marked 11 years of success. Since its inception in 2015, the scheme has disbursed over ₹40.07 lakh crore through 57.79 crore loans, standing as one of the world’s largest financial inclusion initiatives.

• Background: Launched by PM Narendra Modi to provide easy, collateral-free micro-credit of up to ₹10 lakh to non-farm small and micro-entrepreneurs. Loans are categorized into Shishu, Kishore, Tarun, and Tarun Plus.
• Implemented by: The Department of Financial Services (DFS) under the Ministry of Finance (MoF).
• Key Accomplishments: Women entrepreneurs received approximately 66.66% of the sanctioned loans, accounting for nearly 60% of total loan accounts and 37.45% of the total amount disbursed. Nearly 20% (12.15 crore) of all loans were given to first-time entrepreneurs.

MoCA Approves Warangal Airport & Adilabad Airport in Telangana
The Ministry of Civil Aviation (MoCA) has greenlit the development of two new airports—Warangal Airport and Adilabad Airport—in Telangana. The decision was formalized during a special meeting chaired by Defence Minister Rajnath Singh in New Delhi.

• Warangal Airport: The foundation stone for the airport at Mamnoor is scheduled to be laid within the next 3 months.
• Adilabad Airport: Spanning 370 acres, it will be developed by the Ministry of Defence (MoD) for dual-purpose operations (civilian flights and armed forces training), with the Airports Authority of India (AAI) building the civilian terminal.

PFRDA Approves PPFAS AMC to Sponsor Pension Fund under NPS
The Pension Fund Regulatory and Development Authority (PFRDA) has approved PPFAS Asset Management Company (AMC) to act as a sponsor for a pension fund under the National Pension System (NPS). This move aims to manage long-term retirement savings with a focus on investor protection and disciplined investing.

• Structure: A dedicated pension fund company will be set up to manage NPS schemes and invest across Equities, Government Securities, and Corporate Bonds.
• NPS Fund Managers: PPFAS joins ten existing AMCs operating under the NPS, including major players like HDFC, ICICI Prudential, SBI, and Kotak.
• NPS Background: Launched in 2004 for government employees and extended to all citizens in 2009.

NHAI Develops ‘Arogya Van’ Along Highways to Boost Biodiversity
The National Highways Authority of India (NHAI) has launched ‘Arogya Van’ (Health Forest), an initiative to develop thematic medicinal tree plantation corridors along National Highways to enhance biodiversity and promote traditional Ayurvedic medicine.

• Phase 1: Covers 62.8 hectares across 17 land parcels in 11 states (including MP, Haryana, Gujarat, Maharashtra, and TN), aiming to plant about 67,462 medicinal trees.
• Species: 36 types of medicinal trees have been selected according to agro-climatic zones, including Neem, Amla, Jamun, and Tamarind.
• Priority Sites: Toll plazas, wayside amenities, interchanges, and cloverleaf junctions to maximize public visibility.

FIU-IND & I4C Sign MoU to Combat Cyber Fraud and Financial Crimes
The Financial Intelligence Unit, India (FIU-IND) signed a Memorandum of Understanding (MoU) with the Indian Cyber Crime Coordination Centre (I4C) to bolster India’s fight against cyber frauds and illicit financial crimes.

• Mechanism: Both agencies will set up robust feedback frameworks to improve national fraud detection techniques.
• Guidelines: Will facilitate the development and dissemination of red flag indicators to financial institutions for cyber fraud prevention.
• About FIU-IND & I4C: FIU-IND (Ministry of Finance) processes suspicious financial transactions, while I4C (Ministry of Home Affairs) is a national platform for Law Enforcement Agencies to tackle cybercrime.

International Affairs

India-Egypt Joint Special Forces Exercise ‘Cyclone-IV’ Begins in Egypt
The fourth edition of the India-Egypt Joint Special Forces Exercise, ‘Cyclone-IV’, officially commenced as a 9-day joint engagement at the Rangers Forces Headquarters in Anshas, Egypt.

• Objective: To strengthen joint mission planning capabilities, interoperability, and the exchange of best practices in special operations.
• Focus: Training activities centered on tactical operations in desert and semi-desert terrain.
• Participants: The Indian Army deployed a 25-personnel contingent from its Special Forces, while Egypt is represented by its Special Forces Group and Rangers Forces.

Tracxn Report: India Ranks 4th Globally in Tech Funding
Market intelligence platform Tracxn released its ‘India Tech Annual Funding Report 2026’, revealing that Indian tech startups raised USD 11.7 billion in FY26. This ranks India as the fourth-highest funded country globally, trailing the USA, UK, and China.

• Deals: India saw 13 massive funding rounds over USD 100 million, highlighting deals like Nxtra (USD 710M) and Neysa (USD 600M).
• IPOs: A 52% surge from FY25 with 47 IPOs, including major listings like Lenskart, Groww, and Meesho.
• Unicorns: Six unicorns were minted in FY26 (Neysa, Raise, Navi, Jumbotail, JSW One MSME, Juspay).
• Top Cities: Bengaluru (Karnataka) dominated with 33% of total funding, followed by Mumbai (Maharashtra) with 21%.

Banking & Finance

NBBL’s Banking Connect Onboards Axis Bank, Expanding Reach
NPCI Bharat BillPay Limited (NBBL) has onboarded Axis Bank onto its Banking Connect platform. With this inclusion, NBBL’s Banking Connect is now available across 8 major banks (including SBI, HDFC, ICICI) and 11 Payment Aggregators.

• Significance: Axis Bank customers can now utilize the platform to make payments across more than 4,800 merchants connected to the NBBL system.
• Key Features: Introduces high-utility business tools like Direct-to-Merchant Settlements, Third-Party Verification (TPV), and advanced mandate and lien capabilities.

CSB Bank Launches ‘SMART SAVE ACCOUNT’ as its 1st Retail Offering
CSB Bank Limited has launched the ‘SMART SAVE ACCOUNT’, its first dedicated retail savings product, stepping up its retail banking portfolio to boost liquidity and deliver customer-centric automation.

• Variants & Eligibility: Available in savings, current, and NRO variants for salaried individuals, business professionals, and NRIs.
• Key Features: An auto-sweep facility moving surplus funds into Fixed Deposits, offering a maximum of 7% interest on ‘Sweep-in FDs’ over a 13-month tenure.
• Other Benefits: Features a ‘no lock-in’ facility, a complimentary RuPay Platinum debit card, up to 30% discount on locker rentals, and a net banking limit of ₹10 lakh daily.

Appointments & Resignations

ACC Appoints Sanjay Khanna as CMD of BPCL
The Appointments Committee of the Cabinet (ACC), chaired by PM Narendra Modi, approved the appointment of Sanjay Khanna as the Chairman & Managing Director (CMD) of Bharat Petroleum Corporation Limited (BPCL). He will serve until May 31, 2029.

• Experience: Holds over 30 years of extensive experience in refinery operations and technical services.
• Previous Role: Previously served as Director (Refineries) of BPCL and Executive Director of the Mumbai and Kochi refineries. He took the additional charge of CMD following the superannuation of G. Krishnakumar.
• Other Key Roles: Sits on the Boards of Bharat PetroResources, Petronet LNG, and Ratnagiri Refinery and Petrochemicals.

Science & Technology

ISRO Successfully Completes IADT-02 for Gaganyaan Mission
The Indian Space Research Organisation (ISRO) successfully conducted the second Integrated Air Drop Test (IADT-02) at the Satish Dhawan Space Centre in Sriharikota, marking a critical leap toward the Gaganyaan human spaceflight mission.

• Process: An Indian Air Force (IAF) Chinook helicopter lifted a 5.7-tonne simulated Crew Module to a 3-kilometer altitude, dropping it over a designated sea zone.
• Operations: A precise sequence of 10 parachutes successfully deployed to reduce velocity, leading to a safe splashdown and subsequent recovery by the Indian Navy.
• Significance: Fully validated the parachute-based deceleration and recovery systems required to ensure astronauts' safe return during re-entry and abort scenarios.

Meta Unveils ‘Muse Spark’ AI Model to Strengthen Position in Global AI Race
Meta Platforms Inc. rolled out ‘Muse Spark’, a next-generation AI model developed by its superintelligence team under the Avocado series, designed to vastly improve complex reasoning and user integration.

• Features: A multimodal model capable of processing text and images, offering unique "Instant, Thinking, and Contemplating" modes for multi-agent reasoning, problem-solving, and content generation.
• Deployment: Set to replace existing Llama-based chatbots across WhatsApp, Instagram, Facebook, and Meta smart glasses.
• Safety: Incorporates strict safety frameworks to curb high-risk outputs and features self-evaluation awareness.

Obituary

Veteran Congress Leader Abu Hasem Khan Chowdhury Passes Away
Veteran Indian National Congress (INC) leader and former Union Minister Abu Hasem Khan Chowdhury, affectionately known as ‘Dalu Babu’, passed away at the age of 88 in Kolkata, West Bengal.

• Profile & Legislature: A highly respected figure in Bengal's grassroots politics, he served as a Member of the Legislative Assembly (MLA) from Kaliachak (1996–2006).
• Parliamentary Tenure: Elected as MP from Malda South from 2009 to 2019, stepping in initially after the passing of Ghani Khan Choudhury in 2006.
• Ministerial Role: Served as Minister of State (MoS) for Health and Family Welfare under the UPA government from 2012 to 2014.

India’s Oldest Living Test Cricketer C.D. Gopinath Passes Away at 96
Chingleput Doraikannu (C.D.) Gopinath, India’s oldest living Test cricketer and the world's second-oldest, passed away in Chennai at the age of 96.

• Test Career: Played 8 test matches (12 innings) for India, scoring 242 runs with a top half-century.
• Key Accomplishments: Played 83 first-class matches, amassing 4,259 runs at an average of 42.16, boasting 9 centuries and 23 half-centuries.
• Legacy Shift: Following his passing, former wicketkeeper-batter Chandu Patankar becomes the oldest living Indian Test cricketer.

State News

Telangana’s AI Hub Aikam Signs MoU with Deakin University
Telangana’s Artificial Intelligence (AI) innovation hub, Aikam, has signed a strategic Memorandum of Understanding (MoU) with Australia’s Deakin University to push the boundaries of applied AI research, skilling, and state-level innovation.

• Objective: To combine Deakin’s academic research capabilities with Telangana’s infrastructure to create ethical and scalable AI solutions for public services.
• Initiative: Establishment of 'Aikam-DHRITI', India’s first AI-focused skill-development center located at the upcoming Bharat Future City near Hyderabad.
• Focus Areas: Mass upskilling of the workforce, fostering joint translational research, and dedicated startup enablement.

Important Days at a Glance