Current Affairs 13 March 2026

We are here for you to provide the important Recent and Latest Current Affairs March 13 2026, which have unique updates of Latest Current Affairs 2026 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Overview of PM Narendra Modi’s Visit to Kerala, TN on March 11, 2026
On 11 March 2026, Prime Minister (PM) Narendra Modi visited Ernakulam (Kerala) and Tiruchirappalli (Tamil Nadu, TN), where he inaugurated, dedicated to the nation and laid the foundation stone for multiple development projects worth around Rs 16,450 crore across sectors such as petroleum and natural gas infrastructure, highways, rural connectivity and railways.
Highlights of the Visit:
Kerala: During the visit to Ernakulam, Kerala, PM Narendra Modi inaugurated, dedicated to the nation, laid foundation stones and flagged off multiple development projects worth around Rs 10,800 crore.

• He laid the foundation stone for a Polypropylene Unit at the Kochi Refinery of Bharat Petroleum Corporation Limited (BPCL) with an investment of over Rs 5,500 crore and a capacity of 400 Kilo Tons Per Annum (KTPA) to boost domestic polymer production and reduce import dependence.

TN: During the visit to Tiruchirappalli (TN), PM Modi inaugurated, dedicated to the nation and laid foundation stones for development projects worth about Rs 5,650 crore across petroleum, infrastructure, rural connectivity and railway sectors.
The foundation stone was laid for the City Gas Distribution Network (CGD) of BPCL in The Nilgiris and Erode districts with an investment of over Rs 3,680 crore, which will provide Piped Natural Gas (PNG) connections to over 8.8 lakh households, supply gas to 200+ commercial establishments, and establish 201 Compressed Natural Gas (CNG) stations.

Union Textiles Minister Giriraj Singh Launches Bharat Tex 2026
On 11 March 2026, Union Minister Giriraj Singh, Ministry of Textiles (MoT), launched Bharat Tex 2026, India’s flagship global textile event, expected to become one of the world’s largest integrated textile fairs, aimed at positioning India as a reliable sourcing destination and investment hub for the global textile industry.
Overview of Bharat Tex 2026:
Event: Bharat Tex 2026 will be held from July 14 to 17, 2026 at Bharat Mandapam, New Delhi (Delhi).
Organiser: The event is organised by the Bharat Tex Trade Federation (BTTF), an umbrella body of 11 textile-related Export Promotion Councils (EPCs) and industry organisations, with support from MoT.
Vision Alignment: The event supports the Prime Minister’s (PM) 5F Vision—Farm to Fibre, Fibre to Factory, Factory to Fashion, and Fashion to Foreign markets, under the Make in India, aiming to strengthen the entire textile value chain from raw material production to global exports.

NITI Aayog Releases Fiscal Health Index 2026; Odisha Ranks First
In March 2026, Suman Bery, Vice-Chairman of the National Institution for Transforming India (NITI Aayog), and Nidhi Chhibber, Chief Executive Officer (CEO, Additional Charge) of NITI Aayog, released the second annual edition of the “Fiscal Health Index (FHI) 2026” in New Delhi, Delhi.

• FHI 2026 evaluates the fiscal performance and financial soundness of Indian states for the Financial Year 2023-24 (FY24), based on data from the Comptroller and Auditor General of India (CAG).
• Odisha secured the top rank with an FHI score of 73.1, followed by Goa (54.7) and Jharkhand (50.5).

Performance of Major States:
Front-Runners: The Front-Runner category includes Gujarat, Maharashtra, Chhattisgarh, Telangana, Uttar Pradesh (UP) and Karnataka.
Performers: Madhya Pradesh (MP), Haryana, Bihar, Tamil Nadu (TN) and Rajasthan fall under the Performer category, reflecting moderate fiscal management with scope for improvement.
Aspirational: West Bengal (WB), Kerala, Andhra Pradesh (AP) and Punjab are placed in the Aspirational category, characterised by higher fiscal deficits, elevated debt levels (35–45 percent of GSDP), and large committed expenditures.

MoAFW Releases 2nd Advance Estimates of Production of Major Agricultural Crops 2025-26
On March 10 2026, Union Minister Shivraj Singh Chouhan, Ministry of Agriculture and Farmers Welfare (MoAFW) released the data of 2nd Advance Estimates of production of major agricultural crops (including Kharif and Rabi crops)for the year 2025-26.

• The crop area data received from the states has been validated and cross-verified using information from remote sensing, the Weekly Crop Weather Watch Group(WCWWG), and other agencies, while yield estimates are based on Crop Cutting Experiments (CCEs), past production trends, and other relevant factors.

Key Estimates:
Food Grain Production: As per the newly released data, Kharif foodgrain production is estimated at 1741.44 Lakh Metric Tonnes (LMT) and Rabi food grain production at 1745.13 LMT.
Rice Production: For Kharif, rice production is estimated at 1239.28 LMT (for 2025-26) and for Rabi rice production is projected at 167.20 LMT for the same time period.
Pulses Production: Among pulses, tur production is estimated at 34.55 LMT; gram at 117.92 LMT; and lentil at 17.33 LMT.
Oilseeds Production: The production of oilseeds is pegged at 265.33 LMT (in the Kharif season) and 144.65 LMT (in the Rabi season).
Commercial Crops: Some of the major commercial crops production projections: 5001.97 LMT (sugarcane ); 290.91 lakh Bales (170 kilograms, kgs each) (cotton) and 81.27 lakh Bales (180 kgs each) (jute).

DPIIT and Voltas Limited Sign MoU for Cooling and Smart Appliance Innovation
In March 2026, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry (MoC&I) signed a Memorandum of Understanding (MoU) with Voltas Limited, a Tata Enterprise, to promote collaboration between industry and start-ups in the cooling and smart appliance ecosystem.

• The MoU was signed by Sumeet Kumar Jarangal, Director at DPIIT, and Mukundan Menon, Managing Director of Voltas Limited, in New Delhi, Delhi.

About Industry–Start-up collaboration:
Focus Areas:The partnership targets technologies in Heating, Ventilation and Air Conditioning (HVAC), advanced control systems, power electronics, Artificial Intelligence (AI) and Machine Learning(ML) diagnostics, Internet of Things (IoT)-enabled appliances, and manufacturing digitalisation.
Initiatives: Startup India initiative under DPIIT and Voltas will organise ‘Bharat Startup Grand Challenge(BSGC) innovation challenges’ and hackathons addressing industry problems.
Support and PoC:Selected start-ups will receive mentorship, technical guidance, testing infrastructure access, and market linkages, and may participate in Proof-of-Concept (PoC) programmes and field trials with Voltas engineering teams.

WHO Foundation and Novo Nordisk Partner to Combat Childhood Obesity in India
In March 2026, the WHO Foundation, an independent organization established to support the mission of the World Health Organization (WHO), partnered with Novo Nordisk, a Danish multinational pharmaceutical company, to raise awareness and address the growing challenge of childhood obesity in India. 
Key Details of Partnership:
Purpose:The partnership aims to reduce childhood obesity by promoting healthier lifestyles, strengthening early risk identification, and supporting obesity prevention and health-system readiness through a scalable school-based health programme.
Key Focus Areas: The initiative will focus on selected districts in India and integrate health screening, lifestyle education, physical activity promotion and mental health support within school environments.
Alignment: The programme aligns with the Ayushman Bharat – School Health and Wellness Programme, launched in 2018 under the Ministry of Health and Family Welfare (MoHFW) and Ministry of Education (MoE), and the WHO Health Promoting Schools framework.
About WHO Foundation: It is an independent organisation established in 2020 and headquartered in Geneva, Switzerland.

BANKING & FINANCE

RBI revises counterparty credit risk rules to align with Basel norms
In March 2026, the Reserve Bank of India (RBI) released the RBI (Commercial Banks – Prudential Norms on Capital Adequacy) Third Amendment Directions, 2026, revising its capital adequacy framework for commercial banks.

• The amendment introduces clearer guidelines for how banks should calculate and maintain capital to cover counterparty credit risk (CCR) exposures.

Key Highlights
Consolidated Basis: A commercial bank needs to comply with the capital adequacy ratio requirements at two levels – the standalone level and the consolidated level.

• The Amendment provides that for computation of capital requirement on a consolidated basis, a bank shall include the CCR exposures of all such entities.

Note: Counterparty Credit Risk (CCR) is the risk that the other party in a financial transaction (like derivatives or swaps) may default before the contract is settled.
Add-on Factors: The most significant operational change is the revision of a table specifying add-on factors used to calculate Potential Future Exposure (PFE) for derivative contracts.

RBI Cancels CoR of 36 NBFCs; 9 NBFCs Voluntarily Surrender Licences
In March 2026, the Reserve Bank of India (RBI) cancelled the Certificate of Registration (CoR) of 36 Non-Banking Financial Companies (NBFCs) as part of its regulatory actions, while 9 other NBFCs surrendered their licences due to business exits, structural changes, or mergers.
RBI Regulatory Actions on NBFCs:
Cancellation of 36 NBFCs: RBI cancelled the CoR of 36 entities between 16 and 24 February 2026, prohibiting them from conducting NBFC activities under the Reserve Bank of India Act, 1934, with key entities including Excellence Broking & Finance Pvt Ltd, Jibralter Traders Ltd, Bahubali Leasing Limited, and Wintech Telecom Pvt Ltd.
Surrender of Licences by 9 NBFCs: Three companies KKR India Asset Finance Private Limited (Pvt Ltd), Manglam Vanijya Pvt Ltd, and Mechno Sales Agencies Pvt Ltd surrendered their CoR after deciding to exit the NBFC business, leading to cancellation by the RBI.

• Premier Ferro Alloys & Securities Limited surrendered its licence in February 2026 after meeting the criteria of an unregistered Core Investment Company (CIC), which does not require RBI registration.
• Five entities Unicon Suppliers Pvt Ltd, Atreyi Vincom Pvt Ltd, Hanuman Forging and Engineering Pvt Ltd, Upwards Capital Pvt Ltd, and Samuk Holding Pvt Ltd, surrendered their licences as they ceased to exist due to amalgamation, merger, dissolution or voluntary strike-off.

SBI and MUFG Bank Sign Strategic Partnership to Strengthen India–Japan Financial Ties
In March 2026, the State Bank of India (SBI) signed a strategic partnership agreement with MUFG Bank, Ltd. (MUFG), a leading Japanese global financial institution, to strengthen cross-border capital flows, expand financing opportunities, and enhance economic cooperation between India and Japan.
Overview of the Strategic Alliance:
Purpose: The partnership combines SBI’s strong domestic presence in India with MUFG’s global network to support Japanese companies investing in India and Indian enterprises expanding into Japan and other international markets.
Focus: The partnership focuses on Mergers and Acquisitions (M&A), aviation and real estate financing, along with M&A advisory, trade finance, and retail banking services.
Alignment: The pact aligns with India-Japan Special Strategic and Global Partnership and Joint Vision for the Next Decade. It supports Viksit Bharat 2047 (Developed India by 2047 vision).
Background: The partnership builds on earlier collaboration, including MUFG acting as Lead Social Loan Coordinator for SBI’s USD 1 billion social loan in 2023 and arranging a USD 500 million gender-themed syndicated loan to promote women’s economic empowerment.

RBI Authorises CRED To Operate as Payment Aggregator
In March 2026, the Reserve Bank of India (RBI) granted authorisation to CRED, a fintech platform operated by Dreamplug Technologies Private Limited, to operate as Payment Aggregator (PA), under the Payment and Settlement Systems Act(PSSA), 2007.

• This approval will help the company in expanding its role in India’s digital payments ecosystem.

About the Authorisation:
Function: This authorisation will enable the company to onboard merchants directly and manage payment flows without depending on intermediaries or partner banks.
PPI License: Following this approval, the CRED and its subsidiaries now hold two key RBI licenses, including a license to operate as Prepaid Payment Instrument (PPI).
Other Key Licenses: The company also holds a corporate agency licence from the Insurance Regulatory and Development Authority (IRDAI); Registered investment adviser licence from the Securities and Exchange Board of India (SEBI); and Third-party application provider (TPAP) license from the National Payments Corporation of India (NPCI).

ECONOMY & BUSINESS

CRISIL Intelligence Projects India’s GDP Growth at 7.1% for FY27
In March 2026, CRISIL Limited (formerly Credit Rating Information Services of India Limited), through its CRISIL Intelligence division, released the report titled “India Outlook: Wading through Squally Waters” at the 10th India Outlook Conclave in Mumbai, Maharashtra.

• The report projects that India’s real Gross Domestic Product (GDP) growth will moderate to 7.1% in Financial Year 2026–27 (FY27), down from 7.6% in FY26.

About India’s Growth Outlook:
Retail Inflation: It is projected to increase to 4.3% in FY27 from 2.5% in FY26, though favourable monsoon conditions may help maintain overall price stability.
Capex: Industrial Capex is projected to increase 1.5 times to around Rs 9.1 lakh crore annually between FY27 and FY31, with semiconductor and electronics manufacturing expected to grow 4.7 times and EV manufacturing and charging infrastructure 3.1 times.

Nomura Lowers India GDP Forecast to 7% in FY27 Amid West Asia Conflict
In March 2026, Japanese brokerage firm Nomura Holdings Inc. lowered its Gross Domestic Product (GDP) growth projection for India to 7% for Financial Year 2026-27 (FY27), from its previous estimate of 7.1%.

• This downward projection is mainly driven by  the ongoing conflict in West Asia, posing serious risks to energy supplies and inflation.

Key Projections:
Inflation: Nomura has raised India’s inflation forecast for FY27 by 70 basis points (bps), from 3.8% to 4.5%.

• The agency further cautioned that if oil prices were passed through, every 10% increase could add nearly 50 bps to inflation.

Current Account Deficit (CAD): It has further projected India’s CAD at 1.6% of GDP, compared to the previous estimate of 1.2%.

APPOINTMENTS & RESIGNATIONS

HDFC ERGO General Insurance Appoints Parthanil Ghosh as its MD & CEO
In March 2026, HDFC ERGO General Insurance Company Limited, a Joint Venture(JV) between HDFC Limited and ERGO International AG, appointed Parthanil Ghosh as its new Managing Director (MD) and Chief Executive Officer (CEO). He will succeed Anuj Tyagi, who resigned on January 16, 2026.

• His appointment will be effective from April 16, 2026, and is subject to approvals from the Insurance Regulatory and Development Authority of India (IRDAI) and other required approvals.

About Parthanil Ghosh:
Profile: He has over 30 years of experience in financial services and insurance, including more than 16 years in the general insurance sector, with expertise in business strategy, product development, digital transformation, and insurance distribution.
Key Role: In 2016, he joined HDFC ERGO following the company’s merger with L&T General Insurance.

• He also played a pivotal role in the company’s integration with Apollo Munich Health Insurance, strengthening its operations and expanding its presence in the health insurance segment.

Current Role: Since May 2025, he has been serving as the Executive Director (ED) of HDFC ERGO General Insurance.

SPORTS

India to Host Asia Cup Archery 2027 Second Leg in Delhi After 22 Years
In March 2026, New Delhi, the national capital of India, is set to host the second leg of the Asia Cup Archery in 2027, marking India’s first international archery event in 22 years since the Asian Archery Championships held in Delhi in 2005.

•  The decision was finalised after Kazi Rajib Uddin Ahmed Chapol, President of World Archery Asia, met Virendra Sachdeva, Secretary General of the Archery Association of India, during his three-day visit to Kolkata, West Bengal(WB).

Key Archery Tournaments:
Key Tournaments: Ahmedabad (Gujarat) is set to host the Asian Para Archery Championships 2026 in September 2026 and Kolkata (WB) will host the South Asian Archery Championships 2026.
Asia Cup Archery 2026: The opening leg of the Asia Cup Archery is scheduled in Bangkok, Thailand from March 21 to 26, 2026.

• The second leg of the tournament will be held in Iraq, while the third and final leg is scheduled in China

Archery World Cup 2026: This year’s Archery World Cup is scheduled in Puebla, Mexico, from April 07 to 12, 2026.

• Meanwhile, the 2nd and 3rd leg of the tournament will be hosted by China and Turkey in Shanghai (May 05 to May 10, 2026) and Antalya (June 09 to June 14, 2026), respectively.

IMPORTANT DAYS

World Kidney Day 2026 – March 12
World Kidney Day (WKD) is a global campaign observed on the second Thursday of March each year to raise awareness about kidney disease, highlight the importance of kidney health, and promote equal access to healthcare and treatment worldwide.

• WKD 2026 is observed on 12 March 2026 and marks the 20th anniversary of WKD.
• 2026 Theme: “Kidney Health for All – Caring for People, Protecting the Planet.”

Background:
Origin: The concept of WKD was introduced by the International Society of Nephrology (ISN) and the International Federation of Kidney Foundations (IFKF).
Launch: The inaugural WKD was launched on 9 March 2006 (Thursday) and fully inaugurated on 8 March 2007 (Thursday).
Resolution: The World Health Organization (WHO) adopted its first-ever resolution on kidney health during the 78th World Health Assembly (WHA) held from 19–27 May 2025 in Geneva, Switzerland, marking a major milestone in recognizing kidney disease as a global public health priority.

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