Current Affairs 31 March 2026

FATF Report Highlights India’s Action Against Offshore Crypto Fraud

A recent report by the Financial Action Task Force has recognised our country’s efforts in tackling money laundering and terror financing through offshore virtual asset platforms.

Key Highlights:

• The report focuses on risks associated with Offshore Virtual Asset Service Providers (oVASPs), which operate outside India’s regulatory framework and are often used for illegal financial activities.
• India’s Financial Intelligence Unit (FIU) has been actively using Suspicious Transaction Reports (STRs) from domestic crypto platforms to track suspicious activities.
• Investigations revealed that illicit funds were being converted into virtual assets (cryptocurrencies) through offshore platforms and then routed back into India as legitimate money.

Financial Intelligence Unit (FIU)

What is FIU?

The Financial Intelligence Unit (FIU-IND) is the national agency responsible for collecting, analyzing, and disseminating financial information related to suspicious transactions in order to combat money laundering and terror financing. It is the key agency for financial intelligence in India.

Key Facts:

• The FIU-India is established in 2004.
• It works under the Ministry of Finance (Department of Revenue)
• Headquarters: New Delhi
• It is a central national agency (not a regulatory body)
• Present Director (equivalent to joint secretary) – Shri Amit Mohan Govil.

APCO Wins SKOCH Award 2025 for Digitisation in Handloom Sector

The Andhra Pradesh State Handloom Weavers Co-operative Society Ltd. (APCO) has received the SKOCH Award 2025 for its successful digitisation initiatives in the handloom sector.

Key Highlights:

• APCO introduced computerised billing systems and e-commerce platforms, which have improved operational efficiency and boosted sales performance.
• The digitisation efforts have also helped expand market access for handloom products, benefiting weavers by connecting them to a wider customer base.

INS Agray Delivered to Indian Navy

• The Indian Navy has received ‘Agray’, the fourth vessel in the Anti-Submarine Warfare Shallow Water Craft (ASW SWC) series, built indigenously by Garden Reach Shipbuilders and Engineers, Kolkata.
• Agray is part of a fleet of eight ASW SWCs designed for anti-submarine warfare, mine warfare, and coastal surveillance.
• The Indian Navy has already received three vessels of the ASW Shallow Water Craft (ASW SWC) series before Agray. These are:
  • INS Arnala – First vessel of the series
  • INS Androth – Second vessel
  • INS Anjadip – Third vessel

Anti-Submarine Warfare Shallow Water Craft (ASW SWC) series

• Capacity: 77-meter ships with a displacement of ~900 tons, featuring a maximum speed of 25 knots and 1800 NM endurance.
• Capabilities: Armed with lightweight torpedoes, anti-submarine rockets, mines, and advanced sensors to combat underwater threats in shallow water.
• Key Vessels (GRSE): INS Arnala, Anjadip, Amini, Agray, Androth, Akshay, Azhikkal, and Ajay.
• Key Vessels (CSL): INS Mahe, Malvan, Mangrol, Malpe, Mulki.
• Indigenous Content: Over 80% indigenously sourced.

Scientists Develop Technology to Reuse Battery Waste for Fuel Cells

Scientists from the International Advanced Research Centre for Powder Metallurgy and New Materials have developed a new technology to reuse spent graphite from lithium-ion batteries to improve fuel cell efficiency.

Key Highlights:

• The research focuses on extracting graphite from end-of-life lithium-ion batteries and converting it into a high-value material for use in fuel cells.
• The recovered graphite is chemically processed (exfoliated) to increase its surface area and functionality, making it suitable for use in oxygen reduction reaction (ORR) catalysts.

Scientific Innovation:

When combined with platinum catalysts, the modified graphite:

• Improves electrical conductivity and oxygen transport
• Enhances fuel cell performance and durability
• Prevents methanol oxidation and carbon monoxide (CO) poisoning

This leads to better performance in Direct Methanol Fuel Cells (DMFCs).

‘Bhavasagara’ Designated as National Repository for Deep-Sea Fauna

The “Bhavasagara” Referral Centre at Centre for Marine Living Resources and Ecology, Kochi, has been designated as India’s National Repository for Deep-Sea Fauna.

Key Highlights:

• The recognition has been granted by the Ministry of Environment, Forest and Climate Change under the Biological Diversity Act, 2002.
• The centre serves as a scientific hub housing over 3,500 identified deep-sea specimens, including both invertebrates (like molluscs and arthropods) and vertebrates (such as fishes).

Andhra Pradesh Ranked 4th in Energy Statistics India 2026 Report

As per the latest Energy Statistics India 2026 report released by the National Statistics Office (NSO), Andhra Pradesh has secured the 4th position in renewable energy potential in India.

The report highlights that Andhra Pradesh contributes a significant share to India’s renewable energy capacity, particularly in solar and wind energy, making it one of the leading states in clean energy development.

More than 70% of India’s renewable energy potential is concentrated in six states, including Rajasthan, Maharashtra, Gujarat, Andhra Pradesh, Karnataka, and Madhya Pradesh. Andhra Pradesh’s strong performance reflects its growing role in India’s transition towards sustainable and green energy.

This ranking is important as it showcases the state’s progress in energy infrastructure, renewable adoption, and contribution to national climate goals.

Jan Dhan Darshak (JDD) App

The Government of India has achieved 99.92% coverage of villages with banking outlets within a 5 km radius, ensuring near-universal financial access across the country.

Key Highlights:

• Banking access includes Bank branches, Business Correspondents (BCs), India Post payment Bank (IPPB) outlets.
• Notably, 100% villages in the Union Territory of Dadra and Nagar Haveli are covered.
• The progress is monitored through the Jan Dhan Darshak (JDD) App, a GIS-based application that tracks banking infrastructure across India.