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Current Affairs 24th March 2026
IMPORTANT FACTS
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Largest island in the world: Greenland
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Greenland belongs to: Denmark
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Largest peninsula: Arabian Peninsula
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Largest archipelago: Indonesia
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Second largest island: New Guinea
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Location of New Guinea: In Australia
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Third largest island: Borneo
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Largest island in Indian Ocean: Madagascar
1. South Indian Bank appoints Jose Joseph Kattoor as Part-Time Chairman
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Tenure and Background: Kattoor has been appointed for a three-year term. He is a veteran of the Reserve Bank of India (RBI), where he served for over three decades (1991–2023), eventually retiring as an Executive Director overseeing key departments like Enforcement, Currency Management, and Corporate Strategy.
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Internal Transition: He succeeds V. J. Kurian, who completed his tenure on March 22, 2026. Kattoor is not new to the bank; he has been serving on the South Indian Bank board as an Independent Director since July 18, 2024.
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Regulatory Compliance: The appointment received formal approval from the Reserve Bank of India on February 3, 2026, and is in accordance with Section 10B(1A) of the Banking Regulation Act, 1949.
2. GoI Introduces CGSMFI 2.0 to Facilitate Credit Flow to MFI
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Financial Scope and Beneficiaries: The scheme features a corpus of ₹20,000 crore and is estimated to benefit approximately 36 lakh small borrowers. It is a limited-period intervention, valid until June 30, 2026, or until the ₹20,000 crore guarantee limit is reached, whichever occurs earlier.
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Interest Rate Caps and Operational Mandates: The scheme imposes strict pricing discipline to ensure affordability. Member Lending Institutions (MLIs) must cap interest rates at EBLR or MCLR + 2% p.a. for loans to MFIs.
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Mandatory Allocation for Small Lenders: To ensure equitable distribution and support smaller players who often struggle for liquidity, the scheme mandates that Member Lending Institutions (MLIs) allocate at least 5% of the total sanctioned amount to small MFIs (AUM under ₹500 crore) and at least 10% to mid-sized MFIs (AUM between ₹500 crore and ₹2,000 crore).
3. Indian Navy warship Nilgiri joins Exercise KAKADU 2026
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Scale and Scope: Exercise KAKADU is Australia’s premier multilateral maritime exercise. The 2026 edition is the largest to date, involving over 6,000 personnel, 30 warships, and multiple aircraft from 18 partner nations. The exercise area has been expanded this year to cover the vast waters from Darwin to Sydney, including the eastern coast of Australia.
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Key Achievement: During the harbour phase in Darwin, the crew of INS Nilgiri demonstrated exceptional spirit by clinching the Kakadu Shield Trophy during the sporting fixtures. This trophy is a traditional part of the exercise designed to foster camaraderie and "bridge-building" between the diverse international navies before they move into complex sea-phase maneuvers.
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Strategic Participation: INS Nilgiri is operating as part of a combined task group alongside ships from Australia, Malaysia, Thailand, Vietnam, and the Philippines.
4. The Ministry of Jal Shakti organized 'World Water Day conclave 2026'
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Release of National Water Data: The Union Minister for Jal Shakti, Shri C. R. Paatil, released several landmark reports to enhance data-driven governance. These included the 7th Minor Irrigation Census, the 2nd Census of Water Bodies, and the first-ever Census of Springs and Major & Medium Irrigation Projects. Additionally, the National Water Data Policy 2026 was launched to streamline evidence-based decision-making.
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Joint Industry Declaration: A core highlight was the transition of industries from "water users" to "water stewards." Major industry associations (including FICCI, CII, and ASSOCHAM) committed to a Joint Declaration targeting Water Neutrality and a 50% reduction in water footprint by 2030.
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Innovation and Technology Integration: The conclave emphasized "Ideas, Innovation, and Action" by felicitating 19 winners of the Jal Shakti Hackathon. The sessions focused on leveraging emerging technologies like AI and IoT for smart monitoring and circular water use.
5. Kipa Mero of Arunachal Pradesh wins gold in women’s javelin F12
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Gold Medal and National Record: Kipa Mero clinched the gold medal in the Women’s Javelin Throw (F12 category). In a dominant performance, she recorded a throw of 23.76 metres, effectively breaking her own previous national record of 22.15 metres.
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State Impact and Support: Her success was part of a strong showing by the Arunachal Pradesh contingent, which included a gold and bronze by Tingong Wangpan and a silver by Techi Meta. Both Mero and Wangpan are currently beneficiaries of the Chief Minister’s Athletes Coaching and Empowerment Scheme (CM-ACES), which provides advanced training and financial support.
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ChampionshipContext: Mero's record-breaking feat contributed to a highly competitive field at the 24th edition of the games, which saw participation from over 1,400 para-athletes across 28 states.
6. Ramachandran R appointed as Director of Census Operations, Karnataka
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Officer Profile and Cadre: Ramachandran R is a 2012-batch Indian Administrative Service (IAS) officer of the Karnataka cadre. Prior to this central deputation, he served in various significant roles within the state, including a tenure as the Managing Director of the Bengaluru Metropolitan Transport Corporation (BMTC).
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Tenure and Scheme: The appointment has been made under the Central Staffing Scheme (CSS) for a period of three years. His term is effective from the date he assumes charge of the post or until further orders, whichever is earlier.
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Strategic Role: As Director of Census Operations, he will lead the planning and execution of demographic data collection and citizen record management in Karnataka.
7. Karnataka Grameena Bank awarded ‘National Award for Outstanding Performance in SHG Bank
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Exceptional Credit Outreach: The bank has demonstrated a massive commitment to rural empowerment by extending credit totaling ₹2,835 crore to 80,904 Self-Help Groups (SHGs).
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National Recognition: Union Minister for Rural Development, Shivraj Singh Chouhan, presented the award to the bank's General Manager, V.M. Rukmini Devi, at the National Conference on Financial Literacy and Capacity Building.
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Impact of Consolidation: The bank's Chairman, Shreekant M. Bhandiwad, noted that the government’s 'One State - One Rural Bank' policy—which led to the merger of regional rural banks in Karnataka—significantly strengthened the bank's institutional framework.
8. GoI Establishes Rare Earth Magnet Pilot Plant at ARCI Hyderabad
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End-to-End Manufacturing Capability: The plant adopts a comprehensive "mineral-to-market" approach. It covers the entire production cycle—from strip-cast alloy production to the finishing of sintered magnets. This integrated setup is designed to bridge the gap between laboratory research and commercial-scale manufacturing.
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Strategic Import Substitution: India currently imports over 90% of its rare earth magnets, primarily from China. Since Nd-Fe-B magnets are the strongest permanent magnets commercially available and are indispensable for Electric Vehicles (EVs), wind turbines, and defense electronics, this plant is critical for India's strategic autonomy and supply chain security.
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Support for the Green Ecosystem: The facility will serve as a hub for technology validation and industry collaboration. It is specifically aimed at supporting India’s Electric Mobility Mission and renewable energy goals.
WHAT HAPPENED TODAY?
World Tuberculosis Day: 24thMarch
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Theme 2026: "Yes! We Can End TB!"
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The Focus: Shifting from global ambition to local action, emphasizing that ending TB is achievable through sustained political will.
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