Current Affairs 12 March 2026

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NATIONAL AFFAIRS

Cabinet Approves Extension of Jal Jeevan Mission Till 2028 with Enhanced Outlay of Rs 8.69 Lakh Crore

In March 2026, the Union Cabinet chaired by Prime Minister(PM) Narendra Modi approved the extension of the Jal Jeevan Mission (JJM) until 2028 with an enhanced total outlay of Rs 8.69 lakh crore.

• The Ministry of Jal Shakti (MoJS) will also restructure the JJM to shift its focus from infrastructure creation to sustainable service delivery and drinking water governance.

Key Features of Jal Jeevan Mission 2.0 (JJM 2.0):

Financial Outlay: The Cabinet enhanced the JJM outlay to Rs. 8.69 lakh crore, increasing central assistance to Rs. 3.59 lakh crore, including an additional allocation of Rs. 1.51 lakh crore over the Rs. 2.08 lakh crore approved in 2019–20.

Cabinet Approves Amendments to FDI Rules for Investments from LBCs

In March 2026, the Union Cabinet, chaired by the Prime Minister (PM) Narendra Modi, approved amendments to India’s Foreign Direct Investments (FDI) framework governing investments from countries that share a Land Border Countries (LBCs).

• The rules apply to China, Pakistan, Bangladesh, Nepal, Bhutan, Myanmar, and Afghanistan.

Key Changes in FDI Rules:

Aim: The decision aims to streamline the approval process while ensuring national security and economic safeguards.

Beneficial Ownership(BO) Framework: Investments where the beneficial owner from LBCs holds a non-controlling stake of up to 10% will now be permitted through the automatic route, subject to sectoral caps and regulatory conditions.

Expedited Approval Mechanism: The amended policy introduces a 60-day decision timeline for investment proposals from LBCs in specific sectors.

Cabinet Approvals on March 10, 2026: Major Infrastructure and Transport Projects Across India

In March 2026, the Union Cabinet chaired by Prime Minister (PM) Narendra Modi approved several major infrastructure projects, including granting international airport status to Madurai Airport (Tamil Nadu, TN); Rs. 4,474 crore railway multitracking projects in West Bengal (WB) and Jharkhand, a Rs. 3,631 crore road project in Haryana and Uttar Pradesh (UP), and a Rs. 3,839 crore highway widening project in Madhya Pradesh (MP).

• The projects, approved under the Pradhan Mantri Gati Shakti National Master Plan (PMGS-NMP), are intended to advance regional connectivity, streamline logistics, and foster economic development across India.

Key Details of Approvals:

Approval 1: The Union Cabinet approved the declaration of Madurai Airport in Tamil Nadu (TN) as an International Airport.
Approval 2: The Cabinet Committee on Economic Affairs (CCEA) approved two Indian Railways (IR) multitracking projects worth Rs 4,474 crore.

• The projects span five districts across WB and Jharkhand, expanding the IRs network by about 192 kilometres (km).

Approval 3: The CCEA approved the revised capital cost of Rs 3,630.77 crore for constructing Greenfield road connectivity to Noida International Airport , commonly known as Jewar International Airport, UP.

Approval 4: CCEA approved a Rs 3,839.42 crore project for four-laning the Badnawar–Petlawad–Thandla–Timarwani section of National Highway-752D (NH-752D) in MP.

Union Minister Giriraj Singh Released Report on Mapping of Textile Waste Value Chain in India

In March 2026, Union Minister Giriraj Singh, Ministry of Textiles (MoT), released the report titled “Mapping of Textile Waste Value Chain in India” at Udyog Bhawan, New Delhi (Delhi), which assesses textile waste generation, recycling practices, recovery pathways and emerging technologies to promote circularity and sustainability in India’s textile sector.

Overview of the Report:

Waste: India generates about 70.73 lakh tonnes (LT) of textile waste annually, with 42% from PCTW and 58% from PoCTW sources.
Spinning: The spinning sector operates a near closed-loop system, reintegrating almost 100% of soft waste directly into production due to homogeneous waste streams.
Hub: Panipat (Haryana) has emerged as a major hub for mechanical textile recycling, processing waste collected from multiple textile clusters.
Market: India’s textile recycling market is projected to reach USD 3.5 billion by 2030 with the potential to create around 1 lakh green jobs.

Union Minister Rajnath Singh Releases ‘Defence Forces Vision 2047’ Roadmap for Future-Ready Indian Military

In March 2026, Union Minister Rajnath Singh, Ministry of Defence (MoD), released the vision document titled “Defence Forces Vision 2047: A Roadmap for a Future-Ready Indian Military” at South Block, New Delhi (Delhi).

Overview of the Vision:

Prepared by: The document, prepared by the Headquarters Integrated Defence Staff (HQ IDS).

Objective: The roadmap outlines a long-term strategy to transform the Indian Armed Forces into a modern, integrated, technologically advanced and multi-domain military capable of deterring adversaries and responding effectively to the full spectrum of conflicts by 2047.
Jointness: The document emphasises stronger coordination among the Indian Army (IA), Indian Navy (IN) and Indian Air Force (IAF) in planning, operations and capability development.
Technology: It promotes adoption of advanced technologies such as Artificial Intelligence (AI), cyber defence systems and modern training frameworks for future warfare.

Coursera Collaborates with Mission Karmayogi to Upskill Civil Servants

In March 2026, the global edtech platform Coursera partnered with the Government of India(GoI) Mission Karmayogi to provide advanced upskilling for civil servants and government officials. Under this collaboration, Coursera will deliver curated courses through the Integrated Government Online Training (iGOT) platform, specifically utilizing the iGOT Marketplace gateway.

Implementation: The partnership, announced by Chhavi Bhardwaj, Chief executive officer(CEO) of Karmayogi Bharat, aims to shift public administration from a “rule-based” to a “role-based” competency model and improve public service delivery through global learning content.

Specialization: Courses focus on Emerging Technologies (Artificial Intelligence – AI), Infrastructure & Sustainability, Leadership & Governance, and Public Welfare.

About Mission Karmayogi: Also known as the National Programme for Civil Services Capacity Building (NPCSCB), it is a Government of India (GoI) initiative launched in September 2020 to build a future-ready, citizen-centric and technology-enabled civil service.

iGOT Karmayogi Digital Platform: The Integrated Government Online Training (iGOT) Karmayogi portal provides online courses, learning resources, and competency-building modules for government officials.

MoPSW Approves Rs 117.54 Crore Renovation of Historic Bascule Bridge in Kolkata, WB

In March 2026, Union Minister Sarbananda Sonowal, Ministry of Ports, Shipping and Waterways (MoPSW), approved a project worth Rs.117.54 crore for the renovation of the historic Bascule Bridge at Syama Prasad Mookerjee Port (SMP), Kolkata, West Bengal(WB), to improve safety and operational efficiency at the Kolkata Dock System (KDS).

About Renovation Project:

Bridge Modernisation: The bridge, originally constructed by Wagner-Biro Bridge Systems AG, will undergo structural strengthening and electro-mechanical upgrades as part of the renovation project to improve safety and operational efficiency.

Implemented by: The project will be implemented by Rail Vikas Nigam Limited (RVNL), and the construction work has been awarded to M/s H & H Fressinet, based in Mumbai, Maharashtra.

Financial Support : The project will receive around Rs 41 crore financial assistance under the Sagarmala Programme, the Government of India’s flagship initiative launched in 2015 to promote port-led development.

INTERNATIONAL AFFAIRS

USA Announces First New Oil Refinery in 50 Years with Investment from Reliance Industries
In March 2026, Donald Trump, President of the United States of America (USA), announced that the USA would build its first new oil refinery in nearly 50 years with investment from Reliance Industries Limited (RIL), led by Indian industrialist Mukesh Ambani.

• The refinery will be developed at the Port of Brownsville, Texas (USA) and is expected to strengthen energy security, boost domestic oil production and create significant economic impact.

Overview of the Refinery Project

Announcement: USA announced the refinery project to expand domestic refining capacity and reduce dependence on imported refined petroleum products.
Location: The refinery will be developed at the Port of Brownsville (PoB) in Texas (TX), USA, marking the first major refinery built in the country since Marathon Petroleum Corporation (MPC) established its refinery at Garyville, Louisiana (LA) in 1977.
Developer: The project will be developed by America First Refining (AFR) with investment linked to RIL.
Investment: The refinery involves an estimated investment of about USD 300 billion, designed to process 1.2 billion barrels (BBL) of United States shale oil (USSO) valued at USD 125 billion and produce around 50 billion gallons (BG) of refined petroleum products worth about USD 175 billion.

BANKING & FINANCE

RBI Revises Bank Dividend Framework, new norms for FY27

In March 2026, the Reserve Bank of India (RBI) issued RBI(Commercial Banks – Prudential Norms on Declaration of Dividend and Remittance of Profits) Directions, 2026, governing how commercial banks declare dividends.

• The RBI repealed its 2025 dividend framework, introducing a revised set of prudential norms that will take effect from the financial year 2026-27 (FY 27).

Key Highlights

Dividend Payout: Under the revised rules, the maximum dividend payout for banks incorporated in India is capped at 75% of the Profit After Tax (PAT) for the year.

Capital Based Payout: The dividend declaration which was primarily linked to the overall Capital to Risk-Weighted Assets Ratio (CRAR) and net non-performing assets (NPAs), will now be linked to the bank’s Common Equity Tier 1 (CET-1) ratio.

• Banks with a CET-1 ratio at or below 8% are barred from paying any dividend.

Bank of Baroda Launches ‘Sapphire’ Savings Account for Women

In March 2026, Bank of Baroda (BoB) launched a special savings account for women named ‘bob Women Sapphire Savings Account’. The account offers a combination of healthcare coverage, lifestyle privileges, and banking benefits aimed at improving financial and wellness support for women customers in India.

About bob Women Sapphire Savings Account:

Balance: The account is exclusively available for women customers. The account requires a Monthly Average Balance (MAB) of Rs 1 lakh.

Health and Wellness Benefits: The account offers Rs 10 lakh cancer care coverage for women aged 18 to 60 years.

• It also provides complimentary online doctor consultations for up to six family members, along with up to 15% concession on medicines and up to 20% concession on pathology tests.

Debit Card Benefits: Account holders receive the bob Bhoomi RuPay Select Debit Card, which offers several lifestyle privileges such as domestic airport lounge access, complimentary gym membership, health check-up, spa or salon services, and Over-The-Top (OTT) subscriptions.

Axis Max Life Insurance Partners with Saarathi Finance to Support MSMEs with Group Credit Life Insurance

In March 2026, Axis Max Life Insurance Limited entered into a strategic Corporate Agent partnership with Saarathi Finance and Credit Private Limited (Saarathi Finance) to strengthen financial protection for Micro, Small and Medium Enterprises (MSMEs) in India.

Key Details of Partnership:

Integration: Under the partnership, Group Credit Life Secure (GCLS) insurance will be integrated with loans provided to MSMEs. This ensures that borrowers receive financial protection along with credit support.

Financial Risk Protection:  The insurance coverage provides a safety net for entrepreneurs by protecting loan obligations in case of unexpected events, thereby reducing financial stress on businesses and families.

Alignment :The collaboration aligns with India’s broader objective of achieving ‘universal insurance coverage by 2047’, while also promoting financial inclusion and risk protection for MSMEs.

PayU Partners with GoKwik to Launch India’s First Integrated C2C Stack for D2C Brands

In March 2026, PayU, a digital payments and financial services provider in India, entered into a strategic partnership with GoKwik, a checkout optimisation platform for Direct-to-Consumer (D2C) brands, to launch India’s first Integrated Conversion-to-Completion (C2C) stack.

• The collaboration aims to improve the efficiency of the digital commerce ecosystem by enabling seamless checkout and payment completion for online shoppers.

Introduction of Integrated Commerce Platform: The collaboration integrates GoKwik’s conversion intelligence and checkout tools with PayU’s digital payment infrastructure, enabling D2C brands to manage customer conversion and payments through a single platform.

Significance: It simplifies the commerce technology stack, improves checkout conversions, reduces transaction failures, enhances payment success rates, and strengthens the digital e-commerce ecosystem.

About PayU: PayU is a fintech platform providing digital payment and financial services, operating under Prosus, with some businesses regulated by the Reserve Bank of India (RBI).

About GoKwik: GoKwik is an e-commerce enablement platform supporting 15,000+ D2C brands, helping improve conversion rates and reduce Return-to-Origin (RTO) orders.

ECONOMY & BUSINESS

ASSOCHAM and ICCC Sign MoU to Strengthen India-Canada Business Collaboration

In March 2026, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and the Indo Canada Chamber of Commerce (ICCC) signed a Memorandum of Understanding (MoU) during the India–Canada Business Roundtable held in New Delhi, Delhi.

• The agreement aims to enhance trade, investment, and institutional cooperation between the business communities of India and Canada.

Key Areas of Cooperation under the MoU

Policy Cooperation: Both chambers will enhance the exchange of information on trade policies, economic regulations, and investment opportunities in India and Canada, helping businesses better understand regulatory frameworks and market prospects.

Business Collaboration: The MoU promotes stronger institutional engagement between organizations of both countries and supports joint ventures, production collaboration, and business partnerships to expand industrial and commercial cooperation.

Capacity Building Initiatives: Both organizations will facilitate trade missions, business delegations, and participation in exhibitions, and will jointly organize seminars, conferences, and workshops to strengthen business networking and capacity building.

SCIENCE & TECHNOLOGY

DRDO and Indian Navy Conducted Trials of Indigenous Air Droppable Container ‘ADC-150’

The Defence Research and Development Organisation (DRDO) and the Indian Navy (IN) successfully conducted four in-flight release trials of an indigenous Air Droppable Container (ADC-150) from a P-8I aircraft (Boeing P-8I Poseidon) off the coast of Goa, between 21 February and 01 March 2026 under different extreme release conditions.

• Following the successful completion of all developmental flight trials, the system is expected to be inducted into the IN soon.

About Indigenous Air Droppable Container ‘ADC-150’:

Objective: The ADC-150 has been indigenously developed to deliver a payload of up to 150 kilogram (kg), enabling rapid supply of critical materials to naval vessels operating in deep-sea areas far from the coast.

Capabilities: The system allows aircraft to drop essential supplies such as critical spare parts, equipment, operational supplies, and medical aid directly to ships at sea, helping the IN assist vessels in distress or operating in remote maritime zones.

Development Support: Naval Science and Technological Laboratory (NSTL) served as the nodal laboratory.

OBITUARY

Veteran Congress Leader and Former Union Minister Biren Singh Engti Passed Away

In March 2026, Veteran leader of Indian National Congress (INC) party and former Union Minister of State (MoS) Biren Singh Engti passed away at the age of 81 in Guwahati, Assam. He was born on March 02, 1945 in Karbi Anglong, Assam.

About Biren Singh Engti:

Parliamentary Career: He started his parliamentary career in the 1970s and was elected to the Lok Sabha (The Lower House of the Parliament) 5-times from Diphu constituency (Assam) ie. in 1977, 1984, 2009, and twice in 2014.

Union MoS: During Rajiv Gandhi(former Prime Minister(PM) of India)-led central government , he served as MoS for various ministries such as: the Ministry of Personnel, Public Grievances and Pensions (MoPPG&P); and the Ministry of Planning and Programme Implementation between 1986 and 1989.

Role in Autonomous Council: Other than his parliamentary role and  MoS at the central government, he had also served as the Chief Executive Member (CEM) of Karbi Anglong Autonomous Council (KAAC).

IMPORTANT DAYS

CISF Raising Day 2026 – March 10

The Central Industrial Security Force (CISF) Raising Day is observed annually across India on 10 March to commemorate the establishment of the CISF in 1969 and to honour the service, dedication, and sacrifices of its personnel in safeguarding the nation’s critical infrastructure and industrial assets.

• 10 March 2026 marks the 57th CISF Raising Day.

CISF Background:

Establishment: In 1969, CISF was established under the Central Industrial Security Force Act, 1968 (Act No. 50 of 1968). It functions under the Ministry of Home Affairs (MHA).

Legislative Process: The CISF Bill was passed by the Parliament of India on 13 August 1968 and received Presidential assent on 2 December 1968.

• The Act came into force on 10 March 1969, marking the formation of CISF.

2026 Celebrations: In 2019, the GoI decided to celebrate CISF Raising Day across different parts of India, instead of only in New Delhi, Delhi.

STATE NEWS

Uttarakhand CM Pushkar Singh Dhami Presents Rs 1.11 lakh crore Budget for FY27

 In March 2026, Pushkar Singh Dhami, Chief Minister(CM) of Uttarakhand, presented a Rs 1,11,703.21 crore Budget for the Financial Year 2026-27 (FY27) at Uttarakhand Legislative Assembly Bhararisain (Gairsain) in Uttarakhand. The budget focuses on development through the GYAN model (Garib, Yuva, Annadata, Nari Shakti), prioritising welfare of the poor, youth, farmers and women.

• The FY27 budget is 10.41% higher than the previous financial year and emphasises inclusive growth, infrastructure development and social welfare.

Highlights of the Budget:

Key Financial Indicators: The total expenditure proposed for FY27 is Rs 1,11,703 crore, including Rs 64,989 crore revenue expenditure and Rs 18,153 crore capital outlay.

• The state’s revenue expenditure is estimated at Rs 64,989.44 crore, while total capital expenditure(CaEx) is projected at Rs 46,713.73 crore.
• The fiscal deficit is estimated at Rs 12,579.70 crore, which remains within 3 percent of the Gross State Domestic Product (GSDP).

Key Allocations: Education & Sports – Rs 11,871 crore; Agriculture & Horticulture – Rs 1,113 crore; Animal Husbandry, Dairy & Fisheries – Rs 815 crore;Employment – Mukhyamantri Swarojgar Yojana (Rs 60 crore), Migration Prevention Initiative (Rs 10 crore); Skill Development – Pandit Deendayal Upadhyay Rural Skill Development Scheme (Rs 62.29 crore) and other skill programmes (Rs 586 crore); Infrastructure – Public Works Department (Rs 2,501 crore), Energy Sector (Rs 1,609 crore), and Minor Irrigation (Rs 1,642 crore).

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