Daily Current Affairs – 28-03-2026

National News

Central Government Cuts Excise Duty on Fuel

Central Government of India reduced excise duty on fuels, fully removing Rs.10 excise duty on diesel and reducing Rs.10 on petrol, bringing petrol excise duty from Rs.13 to Rs.3 per litre. This measure was taken to offset losses faced by oil companies due to rising international crude oil prices and to prevent an increase in domestic retail fuel prices, with no change in retail prices. The move is estimated to cause a revenue loss of Rs.1.75 lakh crore to the central government. Additionally, the government reintroduced windfall tax on exports, imposing Rs.21.5 per litre on diesel exports and Rs.29.5 per litre on aviation turbine fuel (ATF) exports to control excess profits of refining companies. Following these changes, total tax on petrol stands at Rs.11.90 per litre and on diesel at Rs.7.80 per litre, reduced from Rs.21.90 and Rs.17.80 respectively. The announcement was made by Union Petroleum Minister Hardeep Singh Puri.

Commercial LPG Allocation to States Increased to 70%

Central Government of India increased the allocation of commercial LPG (cooking gas) to states to 70%. This decision follows disruptions caused by the conflict involving Iran, Israel, and the United States, during which Strait of Hormuz was closed, affecting the movement of crude oil and gas tankers and leading to fuel shortages globally. Due to this situation, India initially reduced commercial LPG allocation to 30%, later increased it by 20% on March 23, and subsequently raised it by another 20%, restoring the allocation to 70%, which is the pre-conflict level. The decision was communicated by Petroleum Secretary Neeraj Mittal to the Chief Secretaries of all states.

Sports News

Hockey India Awards 2026 Winners

Hockey India Awards were presented to players for their performance over the past year, where midfielder Hardik Singh won the Best Player (Men) award and striker Navneet Kaur won the Best Player (Women) award, each receiving Rs.20 lakh. Former captain and member of the 1980 Moscow Olympics 1980 gold-winning Indian hockey team, Zafar Iqbal was honoured with the Major Dhyan Chand Lifetime Achievement Award and received Rs.25 lakh. Bichu Devi Kharibam won the Best Goalkeeper (Women) award and Sanjay won the Best Defender award, each receiving Rs.5 lakh, while Sukhjeet Singh was named Best Forward. The Indian Men’s Hockey Team, winners of the Asia Cup, were also honoured, with each player receiving Rs.3 lakh and coaches receiving Rs.1.5 lakh.

India Wins 10 Medals at Asian Cup Archery

In Bangkok on March 27, India finished the Asian Cup Archery Stage 1 held in Thailand with a total of 10 medals (2 Gold, 4 Silver, 4 Bronze). The Compound Mixed Team of Sakhita Taniparthi and Rajat Chauhan won Gold by defeating Malaysia 158-156. In the Compound Women’s Team, Sakhita Taniparthi, Raj Kaur, and Tejal Salve secured Silver, while the Recurve Men’s Team of Devang Gupta, Sukhchain Singh, and Juyel Sarkar also won Silver. In individual events, Tejal Salve and Rajat Chauhan won Bronze medals, while Uday Kamboj secured a Gold medal in the Compound Men’s individual final.

‘Sunshine Double’ in Tennis

The Indian Wells Open and Miami Open are the first two tournaments in the tennis calendar, each carrying 1,000 ranking points, and winning both titles in the same year is known as the ‘Sunshine Double’. These tournaments are conducted consecutively within a month, requiring players to win both events to achieve this distinction. In the current edition, Aryna Sabalenka in the women’s category and Jannik Sinner in the men’s category are aiming to achieve the ‘Sunshine Double’, having already won the Indian Wells Open this year, with Sabalenka reaching the final and Sinner advancing to the semi-finals of the Miami Open.

International News

Balendra Shah Becomes 47th Prime Minister of Nepal

Balendra Shah (35), former Mayor of Kathmandu, was sworn in as the 47th Prime Minister of Nepal by President Ram Chandra Poudel, becoming the youngest popularly elected Prime Minister in the country’s history. In the recent general elections, the Rastriya Swatantra Party secured 182 out of 275 seats, gaining an absolute majority and bringing Shah to power, after the fall of the government led by former Prime Minister K. P. Sharma Oli due to youth protests against corruption and dynastic politics. Shah also became the first Prime Minister from the Madhesi community, defeating K.P. Sharma Oli in the Jhapa-5 constituency by about 50,000 votes. The new government decided to implement the report of the inquiry commission led by Gauri Bahadur Karki, which recommended up to 10 years imprisonment for K.P. Sharma Oli and former Home Minister Ramesh Lekhak.

Trump’s Signature on US Dollar Notes

Donald Trump’s signature will appear on US Dollar notes to mark the 250th Independence Day of the United States. This marks the first time since 1861, when paper currency was introduced, that a sitting US President’s signature will be included on currency notes; traditionally, only the Treasurer and Secretary of the Treasury sign US banknotes. The new 100-dollar notes carrying Trump’s signature are expected to be printed from June, along with the signature of Scott Bessent, as confirmed by Treasurer Brandon Beach. Separately, the halt on attacks on Iran’s fuel stations has been extended until April 6, and the deadline for reopening the Strait of Hormuz has been extended by 10 days.

India’s First Ports of Refuge

India’s first Ports of Refuge have been operationalized by Adani Ports, marking a milestone in maritime safety. The initiative was implemented in compliance with international maritime regulations in collaboration with Smit Salvage (Netherlands) and the Maritime Emergency Response Centre, and was officially announced on March 27. A Port of Refuge is a designated location where ships facing emergencies such as accidents, engine failures, or fires can seek shelter and undergo temporary repairs. To protect India’s 11,000 km coastline, two ports have been selected: Dighi Port (Raigad district, Maharashtra) on the West Coast to serve ships in the Arabian Sea and Persian Gulf routes, and Gopalpur Port (Odisha) on the East Coast for ships in the Bay of Bengal and Malacca Strait routes. These ports are equipped with facilities such as rescue operations, wreckage removal, modern firefighting systems, and oil spill containment technologies, aiming to prevent ship loss, protect sailors’ lives, and reduce marine pollution.

Economy News

SEBI Approves IPOs of Six Companies

The Securities and Exchange Board of India (SEBI) has granted final approval for the Initial Public Offerings (IPOs) of six companies, namely SVJEL, Sim Biotech Pharma, Vivaraj Environment, Va Tech Wabag, Parasol Chemicals, and Go-Paper-Forms, as announced on March 27 in Mumbai. At the same time, Vantage Flut India has withdrawn its IPO plan, while draft applications of 26 companies remain under SEBI’s review. Among the approved IPOs, SVJEL plans to raise up to ₹4,575 crore and will use the funds for repaying subsidiary debts and general corporate purposes, and the company is engaged in converting agricultural waste into clean energy. Vivaraj Environment, involved in water usage and wastewater treatment management, has received approval to raise ₹2,250 crore, while Sim Biotech Pharma, a pharmaceutical manufacturing company based in Indore, plans to raise ₹2,180 crore through its IPO.

Noida International Airport Inauguration

Prime Minister Narendra Modi inaugurated the Noida (Jewar) International Airport on March 28 in Uttar Pradesh. The airport is developed as the second international airport for the Delhi-NCR region, supporting the Indira Gandhi International Airport, Delhi. Located in the Jewar area of Gautam Buddha Nagar district, the airport is considered the largest international airport in Asia. Once fully operational, it will have the capacity to handle 7 crore (70 million) passengers annually. The airport has been developed with surrounding industrial and logistics clusters to promote economic activity. The first terminal of the airport was inaugurated as part of the event.

Tamil Nadu News

Rise in States’ Borrowing Costs

Borrowing costs of States increased by 0.15–0.3%, crossing 8% in some securities during an auction held in Mumbai on Friday, due to rising government bond yields influenced by escalating conflicts in West Asia and higher global oil prices. According to data compiled by Press Trust of India (PTI) from the Reserve Bank of India (RBI), yields on State Development Loans (SDLs) increased across all maturities. Compared to the previous auction held on March 24, yields on 15-year SDLs rose by 0.24%, 20-year SDLs by 0.16%, and 25-year bonds by 0.30%. In the auction, 13 States raised ₹39,991.958 crore, which is lower than the notified amount of ₹42,941 crore.

RBI’s Payments Vision 2028

The Reserve Bank of India (RBI) released the ‘Payments Vision 2028’ document on Friday in Mumbai, outlining a 3-year roadmap for India’s digital payments ecosystem with 15 specific initiatives. The plan includes extending the ‘switch on/switch off’ facility to all digital payment modes, introducing the Payments Switching Service (PaSS), implementing a Shared Responsibility Framework for unauthorized digital transactions, and exploring the launch of electronic cheques. The roadmap focuses on user empowerment, strengthening fraud prevention mechanisms, improving cross-border payment efficiency, and promoting ease of doing business. The proposed PaSS aims to enable smooth transfer of payment instructions when customers change banks or account numbers. The Shared Responsibility Framework will ensure joint liability of both the issuer bank and the beneficiary bank in cases of unauthorized transactions. Additionally, the RBI plans to introduce full interoperability across Trade Receivables Discounting System (TReDS) platforms to support MSMEs.

India Procures Tunguska Missiles and Signs Defence Deals

The Ministry of Defence (MoD), India signed defence contracts worth ₹858 crore in New Delhi on Friday, including the procurement of Tunguska Air Defence Missile Systems from JSC Rosoboronexport (Russia) and maintenance of naval aircraft. The contract for the Tunguska system, valued at ₹445 crore, was signed in the presence of Defence Secretary Rajesh Kumar Singh for the Indian Army, adding to India’s arsenal after the S-400 missile system under the ‘Mission Sudarshan Chakra’ initiative aimed at strengthening air defence for strategic regions. The 2S6 Tunguska system operates with a four-member crew and is designed to counter low-flying threats such as aircraft, drones, and cruise missiles, with 30 mm guns capable of firing 5,000 rounds per minute and missiles having a range of 8 km. Additionally, a contract worth ₹413 crore was signed with Boeing Defence India for depot-level inspection and maintenance of the P-8I long-range maritime reconnaissance aircraft used by the Indian Navy.

RBI Imposes Penalties on Banks and Pine Labs

The Reserve Bank of India (RBI) imposed monetary penalties on Union Bank of India, Bank of India, Central Bank of India, and Pine Labs for non-compliance with regulatory guidelines in Mumbai. The penalties include ₹95.4 lakh on Union Bank of India, ₹63.6 lakh on Central Bank of India, ₹58.5 lakh on Bank of India, and ₹3.1 lakh on Pine Labs. Union Bank of India was penalized for not crediting amounts related to unauthorized electronic transactions within 10 working days, not providing 24×7 reporting facility, and manual intervention in System-based Asset Classification (KCC accounts). Central Bank of India was penalized for failing to upload KYC details to the Central KYC Records Registry within the prescribed time. Bank of India was penalized for collecting charges in priority sector loan accounts and not paying interest on term deposits after maturity. Pine Labs was penalized for issuing Full-KYC Prepaid Payment Instruments (PPI) without completing proper KYC verification.

Japan’s ODA Loan for India Projects

The Government of Japan has committed an Official Development Assistance (ODA) loan of ¥275.858 billion (₹16,420 crore) to India for four projects in urban transport, healthcare, and agriculture in the states of Punjab, Karnataka, and Maharashtra, as announced in New Delhi. The agreement was exchanged on March 24 between Alok Tiwari, Joint Secretary, Department of Economic Affairs, Ministry of Finance, and Keiichi Ono, Ambassador of Japan to India. The projects include the Bengaluru Metro Rail Project Phase 3 (I) with ¥102.480 billion, Mumbai Metro Line 11 with ¥92.400 billion, a tertiary healthcare and medical education strengthening project in Maharashtra with ¥62.294 billion, and a sustainable horticulture project in Punjab with ¥18.684 billion. These projects aim to expand mass rapid transport systems, improve healthcare infrastructure, and promote sustainable agriculture development.

Jaishankar’s Bilateral Meetings at G7 Foreign Ministers’ Meeting

At the G7 Foreign Ministers’ Meeting held in France, India’s External Affairs Minister S. Jaishankar held bilateral meetings with US Secretary of State Marco Rubio and Canadian Foreign Minister Anita Anand to discuss the West Asia crisis and its global economic impact. The meeting with Marco Rubio marked the second interaction since February 28, when the conflict began. Discussions with Anita Anand covered cooperation in trade, critical minerals, agriculture, and education. During the meeting, India emphasized the need for reform of the United Nations Security Council (UNSC), changes in global governance, and improvement of peacekeeping operations. India also highlighted concerns of the Global South, including energy challenges, fertilizer supply, and food security. The importance of the Strait of Hormuz, through which nearly 20% of the world’s oil and liquefied natural gas (LNG) passes, was stressed in ensuring global energy stability.

What is G7 and When was it Formed?

The Group of Seven (G7) is an informal group of the world’s leading advanced economies, consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, along with the European Union.

It was formed in 1975 as the G6 with six countries (France, Germany, Italy, Japan, the United Kingdom, and the United States) to discuss global economic issues; Canada joined in 1976, making it the G7.

The group meets annually at G7 Summits to discuss major global issues such as the economy, security, climate change, and international cooperation.

Jan Vishwas (Amendment of Provisions) Bill, 2026

The Jan Vishwas (Amendment of Provisions) Bill, 2026 was introduced in the Lok Sabha by Minister of State for Commerce and Industry Jitin Prasada to simplify India’s regulatory framework and reduce compliance burden. The Bill proposes amendments to 784 provisions across 79 Central Acts administered by 23 ministries. A key feature of the Bill is the decriminalisation of 717 provisions, replacing criminal penalties with civil or administrative actions. It also aims to rationalise over 1000 offences and remove outdated and redundant provisions, thereby improving the overall regulatory environment and promoting a conducive business environment by reducing fear of prosecution for minor and technical violations.

Personalities, Awards and Events

Sangita Reddy Appointed President of NATHEALTH (2026–2027)

NATHEALTH, an apex body of the Indian healthcare sector, has appointed Sangita Reddy, Joint Managing Director of Apollo Hospitals Group, as its President for FY 2026–2027. She succeeds Ameera Shah, Promoter and Executive Chairperson of Metropolis Healthcare Ltd.. The announcement was made during the Annual General Meeting held after the 12th NATHEALTH Arogya Bharat Annual Summit 2026.

Tamil Nadu Draft State Mental Healthcare Regulations, 2026

The Tamil Nadu Government has released the draft State Mental Healthcare Regulations, 2026, which lays down minimum quality standards for mental health services and minimum qualifications for personnel in Mental Health Establishments (MHEs). The draft mandates no physical, mental, or sexual abuse or violence against inpatients. The Tamil Nadu State Mental Health Authority (TNSMHA) will maintain a register of mental health professionals, updated monthly, and publish a district-wise list every year on January 1. MHEs are classified into five categories: Category A (Standalone MHEs), Category B (Psychiatric Departments of Medical Colleges), Category C (Psychiatric Wards of Multi-specialty Hospitals), Category D (Standalone De-addiction Centres), and Category E (Psychosocial Rehabilitation Centres). The regulations specify infrastructure norms such as fan-to-bed ratio of 1:4, toilet ratio of 1:8, bathroom ratio of 1:10, and minimum one metre distance between beds, along with provision of separate, gender-neutral, and disabled-friendly toilets. Use of physical restraint is allowed only with psychiatrist approval in cases of imminent harm, and must be recorded, with family informed within 24 hours. Public suggestions can be submitted till April 30, 2026.