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Daily Current Affairs 16th April 2026 Daily GK Update
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National News
Labour Ministry Signs MoUs with Porter & Gigin to Boost Jobs via NCS Portal
- The Ministry of Labour & Employment has signed MoUs with Porter and Gigin Technologies to enhance employment opportunities via the National Career Service (NCS) portal.
- Through this collaboration, Porter will promote large-scale driving and logistics jobs, providing real-time and transparent job access to workers using the NCS platform.
- Porter aims to generate around 6 lakh job opportunities annually and up to 30 lakh opportunities by 2030, boosting employment in the logistics sector.
World Bank Releases $340 Million for Amaravati Capital Project in Andhra Pradesh
- The World Bank has released $340 million for Phase-I of the Amaravati Capital Development Project in Andhra Pradesh.
- The project is being jointly supported by the Asian Development Bank (ADB) along with the World Bank.
- Both institutions have committed a total of $1.6 billion ($800 million each) for the development of Amaravati capital.
- The Government of India will contribute ₹1,400 crore as part of its total ₹15,000 crore commitment to the project.
PM Modi Inaugurates ₹12,000 Crore Delhi–Dehradun Economic Corridor to Boost Connectivity
- PM Narendra Modi inaugurated the Delhi–Dehradun Economic Corridor, a major infrastructure project aimed at boosting connectivity and development.
- The corridor is a 213 km-long, six-lane access-controlled expressway built at an estimated cost of around ₹12,000 crore.
- It connects Delhi, Uttar Pradesh, and Uttarakhand, significantly improving regional connectivity and reducing travel time.
Birkbeck, University of London Gets UGC Nod to Set Up Bengaluru Campus
- Birkbeck, University of London, has received a Letter of Intent from the University Grants Commission to set up its global campus in Bengaluru.
- This initiative will allow Indian students to pursue University of London degrees in India at nearly 60% lower cost, improving access to international education.
Dr. Ambedkar Foundation Celebrates 136th Birth Anniversary of Dr. B. R. Ambedkar at Parliament House
- The Dr. Ambedkar Foundation organised the 136th Birth Anniversary celebration of Dr B. R. Ambedkar on April 14, 2026, at Prerna Sthal, Parliament House premises in New Delhi under the Ministry of Social Justice & Empowerment.
- Ambedkar Jayanti is observed every year to honor Dr. B. R. Ambedkar’s legacy as a social reformer, jurist, economist, and the principal architect of the Indian Constitution, highlighting his lifelong contribution to social justice, equality, and democracy.
International News
Seattle Becomes First US City to Install Swami Vivekananda Statue at Westlake Square
- Seattle has become the first city government in the United States to host a life-size statue of Swami Vivekananda at Westlake Square Park.
- The bronze statue was unveiled by Seattle Mayor Katie Wilson and the Consul General of India, marking a significant cultural milestone.
- Located in downtown Seattle, Westlake Square is a high-footfall area with over 4 lakh daily visitors, situated near major landmarks like Amazon HQ (Spheres) and Seattle Convention Center.
Banking And Financial News
Visa & HDFC Bank Launch FIFA World Cup 2026 Pixel Credit Card with ‘Spend & Win’ Campaign
- Visa and HDFC Bank have launched a limited-edition FIFA World Cup 2026 Pixel Credit Card along with a nationwide “Spend & Win” campaign, offering rewards like match tickets and official merchandise.
- The card, a variant of the Pixel Play digital credit card, features FIFA-themed branding and is available via the PayZapp app and HDFC Bank website; it was launched in Mumbai in the presence of former footballer Michael Owen.
- The Spend & Win campaign covers credit, debit, business, and forex cards, allowing users to win match packages, staycations, merchandise, and shopping vouchers through everyday spending.
RBI returns Ujjivan SFB’s application to convert into universal bank
- The Reserve Bank of India has returned the application of Ujjivan Small Finance Bank seeking conversion into a universal bank.
- Meanwhile, AU Small Finance Bank had received RBI approval earlier to transition into a universal bank, highlighting differing regulatory outcomes.
RBI Sets Key Eligibility Criteria for Small Finance Banks to Transition into Universal Banks:
- The bank must have Scheduled Status and a satisfactory performance track record for at least 5 years.
- Its shares should be listed on a recognized stock exchange.
- The bank must maintain a minimum net worth of ₹1,000 crore as per the last audited quarter.
- It should comply with the prescribed CRAR (Capital to Risk-weighted Assets Ratio) norms for Small Finance Banks.
- The bank must have reported net profit in the last two financial years.
- Asset quality should be strong, with GNPA ≤ 3% and NNPA ≤ 1% over the last two financial years.
NSE Gets MCA Approval for ‘National Coal Exchange of India’ Name
- The National Stock Exchange of India has received approval from the Ministry of Corporate Affairs to reserve the name “National Coal Exchange of India Limited” for its proposed coal exchange venture.
- The approval is only for the company name and does not grant operational or regulatory clearance for the exchange.
- NSE plans to set up a wholly owned subsidiary, investing up to ₹100 crore with a 60% stake, while the remaining 40% will be offered to other shareholders.
IMF Raises India’s Growth Forecast to 6.5% for FY 2026–27
- The International Monetary Fund has raised India’s GDP growth forecast to 6.5% for FY 2026–27, an upward revision of 30 basis points in its latest World Economic Outlook.
- For FY 2025–26, the IMF has also increased India’s growth estimate to 7.6%, reflecting strong economic performance.
- The growth rate is expected to remain stable at 6.5% in FY 2027–28, indicating sustained economic momentum.
Update GDP Projection List
- ADB – 7.6% (FY26); 6.9%(FY27)
- World Bank – 6.6% (FY27)
- Morgan Stanley – 6.2% (FY27)
- Moody’s Rating – 6.8 (FY27)
RBI Cancels Licence of National Urban Cooperative Bank, Pratapgarh
- RBI has cancelled the licence of National Urban Cooperative Bank Ltd Pratapgarh.
- Following this action, the bank has been prohibited from carrying out banking activities, including accepting and repaying deposits.
- Depositors are eligible for insurance up to 25 lakh from Deposit Insurance and Credit Guarantee Corporation.
PPFAS Asset Management Gets PFRDA Approval to Sponsor Pension Fund Under NPS
- PPFAS Asset Management has received approval from the Pension Fund Regulatory and Development Authority to act as a sponsor for a pension fund under the National Pension System.
- The company will soon begin managing retirement savings of NPS subscribers by setting up a separate pension fund entity to handle and grow these investments.
- Mumbai-based PPFAS Asset Management, established in 2011, is part of the PPFAS group promoted by Parag Parikh Financial Advisory Services Ltd., which has a long-standing presence in India’s financial sector.
Appointment News
Iraq Elects Kurdish Leader Nizar Amedi as New President
- Nizar Amedi has been elected as the new President of Iraq by parliament after the November elections.
- He is a former environment minister and has led the political office of the Patriotic Union of Kurdistan (PUK) in Baghdad since 2024.
About Iraq
- Capital- Baghdad
- Currency– Dinar
- President – Nizar Amedi
Djibouti President Ismail Omar Guelleh Re-elected for Sixth Term
- Ismail Omar Guelleh has been re-elected for a sixth term with 97.81% of the vote in the recent presidential election.
- He has been in power since 1999 in Djibouti, ruling the country for over two decades, after succeeding his uncle Hassan Gouled Aptidon.
Newly Appointed Prime Ministers & Presidents
- President of Iraq – Kurdish Leader Nizar Amedi
- President of Vietnam – To Lam
- President of Myanmar – Min Aung Hlaing
- Prime Minister of Mongolia – Uchral Nyam-Osor
- PM of Nepal – Balen Shah (Nepal’s Youngest PM)
Science and Tech News
Artemis II Returns Successfully, Marking First Crewed Lunar Mission in 50 Years
- Artemis II successfully returned to Earth with a splashdown in the Pacific Ocean, marking the first crewed lunar mission in over 50 years after the Apollo Program.
- The mission carried four astronauts—Reid Wiseman, Victor Glover, Christina Koch, and Jeremy Hansen—aboard the Orion capsule named “Integrity.”
- Launched on April 1, 2026, the nearly 10-day mission achieved multiple key milestones in deep space exploration.
- The crew traveled a record 252,756 miles, surpassing the distance of Apollo 13, making it the farthest journey by humans from Earth.
Defence News
Indian Army Departs for 7th India–Uzbekistan Joint Military Exercise ‘DUSTLIK 2026’
- The Indian Army contingent has departed for the 7th edition of India–Uzbekistan Joint Military Exercise ‘DUSTLIK’, scheduled from 12–25 April 2026 at Gurumsaray Training Area, Uzbekistan.
- Exercise DUSTLIK is an annual bilateral military exercise conducted alternately between India and Uzbekistan; the previous edition (2025) was held in Aundh (Pune), India.
Recent Exercises In News
- 16th edition of Joint Special Forces Exercise VAJRA PRAHAR between India and USA – Bakloh Himachal Pradesh
- 7th edition of Joint Military Exercise ‘Dharma Guardian’ between India and Japan – Uttarakhand
- 13th edition of joint military Exercise KHANJAR between India and Kyrgyzstan – Misamari in Sonitpur district of Assam.
- Training exercise “Agni Pariksha” between Indian Army and ITBP – Sigar, East Siang district Arunachal Pradesh
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