Current Affairs 23 March 2026

Expert Committee Formed to Guide NCERT Legal Studies Curriculum

• The Supreme Court of India directed the formation of an expert panel to review NCERT legal studies curriculum.
• The committee includes Justice Indu Malhotra and K.K. Venugopal.
• It will collaborate with Justice Aniruddha Bose.
• The decision followed concerns over a Class 8 textbook topic on “Corruption in the Judiciary”, which the Court termed misleading.
• The Court ordered that revised content must be approved by experts before publication.
• The move aims to ensure accurate, unbiased, and responsible legal education for students.

Historical Milestones of INS Kalvari and Visakhapatnam Port

• INS Kalvari (S23) was the first submarine of the Indian Navy, commissioned on December 8, 1967 in Riga, USSR.
• It was based at INS Virbahu in Visakhapatnam and served for nearly three decades, before being decommissioned in 1996.
• Visakhapatnam Port was inaugurated on December 19, 1933 by Lord Willingdon.
• The first ship to enter the port was S.S. Jaladurga, marking the beginning of ocean trade operations.

Andhra University to Celebrate Centenary (1926–2026)

• Andhra University will celebrate its 100-year centenary from April 15–26, 2026.
• Established in 1926, it is one of India’s pre-independence “Legacy Universities”.
• The celebrations will include the release of a commemorative coin, stamp, and envelope.
• It was founded under the leadership of C.R. Reddy and later shaped by Sarvepalli Radhakrishnan.

Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME)

• Government Modifies MCGS-MSME Scheme to Boost Credit Access (2026)
• The Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME) has been modified to improve credit access and reduce compliance burden.
• The scheme provides 60% guarantee coverage through National Credit Guarantee Trustee Company Limited (NCGTC).
• Loans up to ₹100 crore for plant and machinery are eligible.
• Key modifications include:
  • Inclusion of service sector MSMEs
  • Reduced machinery cost requirement (from 75% to 60%)
  • Refundable upfront contribution
  • Guarantee tenure fixed at 10 years
• Special incentives for exporters:
  • 75% guarantee coverage
  • Loans up to ₹20 crore
  • Lower guarantee fee and contribution
• The scheme aims to strengthen MSMEs, which contribute ~30% to GDP and 45% to exports.

Credit Guarantee Scheme for Microfinance Institutions-2.0 (CGSMFI-2.0)

• The Government of India has introduced the Credit Guarantee Scheme for Microfinance Institutions-2.0 (CGSMFI-2.0).
• The scheme provides guarantee support through National Credit Guarantee Trustee Company Limited (NCGTC).
• It aims to facilitate credit flow up to ₹20,000 crore to NBFC-MFIs and MFIs.
• Around 36 lakh small borrowers are expected to benefit. Key features:
  • Guarantee coverage: 80% (small), 75% (medium), 70% (large MFIs)
  • Interest cap: EBLR/MCLR + 2%
  • Guarantee fee: 0.5% per annum

Indian Navy to Commission Stealth Frigate ‘Taragiri’

• The Indian Navy will commission the stealth frigate INS Taragiri (F41) on April 3, 2026 at Visakhapatnam.
• The ceremony will be presided over by Rajnath Singh.
• Taragiri is the 4th ship under Project 17A, built by Mazagon Dock Shipbuilders Limited.
• It is designed for combat operations as well as humanitarian assistance and disaster relief (HADR).

Carbon Markets Conference – ‘Prakriti 2026’

Ministry of Power launches Indian Carbon Market Portal at Prakriti 2026

• The Union Power Minister inaugurated Prakriti 2026 in New Delhi.
• During the event, the Indian Carbon Market Portal was launched.
• The portal will serve as a central platform for implementing and administering India’s carbon market.
• The initiative is aligned with India’s climate commitments and supports the Carbon Credit Trading Scheme (CCTS).

World Water Day Conclave 2026

India to Host World Water Day Conclave 2026 in New Delhi

• The Ministry of Jal Shakti hosted the World Water Day Conclave 2026 on 23 March 2026 in New Delhi.
• The conclave theme is “Industry for Water”, focusing on sustainable water management and industrial responsibility.
• Key releases include:
  • 7th Minor Irrigation Census
  • 2nd Census of Water Bodies
  • 1st Census of Springs
  • National Water Data Policy
• The event emphasizes water conservation, recycling, reuse, and data-driven governance.
• World Water Day is observed on 22 March globally to promote SDG-6 (Clean Water and Sanitation).