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Daily Current Affairs 1st April 2026 Daily GK Update
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National News
Indonesia Becomes First Southeast Asian Nation to Ban Social Media for Under-16 Users
- Indonesia is the first Southeast Asian country to prohibit under-16 users from accessing social media platforms (such as YouTube, TikTok, Facebook, Instagram, Threads, X, Bigo Live, and Roblox) to protect them from online risks and harmful content.
- The country follows Australia, which became the first nation globally to impose similar restrictions in December.
About Indonesia
- Capital – Jakarta
- Currency – Rupiah
- Official language – Indonesian
- President – Prabowo Subianto
International News
UN Launches High-Level Task Force to Address Hormuz Crisis and Safeguard Global Trade
- The United Nations has established a high-level task force, led by Secretary-General António Guterres, to tackle humanitarian and trade disruptions caused by rising tensions in the Strait of Hormuz.
- The task force, headed by Jorge Moreira da Silva, includes bodies like UNCTAD, IMO, and ICC, and aims to ensure the smooth flow of aid and essential goods using models like the Black Sea grain corridor and Yemen operations.
About United Nations (UN)
- Founded – 24 October 1945
- Headquarters – New York, US
- Official languages – Arabic, Chinese, English, French, Russian & Spanish
- Membership – 193 members (193rd – South Sudan)
- 1st Secretary General – Trygve Halvdan Lie (Norway)
- 9th Secretary‑General – António Guterres (Portugal)
- United Nations Day is celebrated on October 24 every year
Banking And Financial News
Reserve Bank of India Imposes Penalties on Union Bank of India, Central Bank of India, Bank of India & Pine Labs for Regulatory Violations
- Reserve Bank of India (RBI) imposed monetary penalties on Union Bank of India (₹95.40 lakh), Central Bank of India (₹63.60 lakh), Bank of India (₹58.50 lakh), and Pine Labs (₹3.10 lakh) for regulatory non-compliance.
- The violations included delay in crediting unauthorised transactions (Union Bank), lapses in Priority Sector Lending and deposit interest rules (Bank of India), and deficiencies in KYC and financial inclusion norms (Central Bank of India), while Pine Labs failed proper KYC for prepaid instruments.
Govt to borrow ₹8.2 lakh crore in April-September of FY27
- Ministry of Finance India, in consultation with Reserve Bank of India, plans to borrow ₹8.20 lakh crore through dated securities during April–September of FY 2026–27.
- This accounts for about 51% of the total borrowing target of ₹16.09 lakh crore, which is lower than the usual 60%+ borrowing seen in the first half of the fiscal year.
- The reduced borrowing is attributed to high 10-year bond yields (above 6.9%) and global economic volatility, as highlighted by DK Pant.
- The borrowing plan includes ₹15,000 crore through Sovereign Green Bonds (SGrBs), with total borrowing adjusted after G-Sec switches to ₹16.09 lakh crore.
RBI sets WMA limit at ₹2.5 lakh crore for H1 FY 2026–27
- Reserve Bank of India, in consultation with the Government of India, has set the Ways and Means Advances (WMA) limit at ₹2,50,000 crore for April–September FY 2026–27.
- The WMA limit aims to support smooth cash flow management of the government while ensuring fiscal discipline during the first half of the financial year.
About Ways and Means Advances (WMA)
- Ways and Means Advances are short-term credit facilities provided by the Reserve Bank of India to the government to manage temporary mismatches between receipts and expenditures.
- These mismatches arise due to timing differences in revenue collection and government spending obligations.
- WMA serves as a key liquidity support mechanism, enabling the government to meet immediate financial needs without resorting to sudden market borrowings.
Interest rate structure
- The interest rates applicable to WMA and overdrafts are linked to the RBI’s policy rate framework:
- WMA Interest Rate: Aligned with the Repo Rate
- Overdraft Interest Rate: Repo Rate plus 2%
Allianz Jio Reinsurance Limited Commences Operations After IRDAI Approval
- Jio Financial Services Limited and Allianz Group have launched their reinsurance joint venture Allianz Jio Reinsurance Limited, which has started operations after receiving approval from Insurance Regulatory and Development Authority of India.
- Headquartered in Mumbai, the venture is authorised to underwrite reinsurance in India and aims to strengthen the country’s insurance ecosystem as a long-term strategic partner.
Appointment News
Arijit Basu Appointed Part-Time Chairman of IndusInd Bank
- Arijit Basu has been appointed as the part-time Chairman of IndusInd Bank, bringing extensive banking experience to the role.
- He previously served as Chairman of HDB Financial Services and succeeds Sunil Mehta in the position.
About IndusInd Bank
- Founded – 1994
- Founder – S.P. Hinduja
- Headquarters – Mumbai, Maharashtra,
- Tagline – We Make You Feel Richer
Awards News
Zafar Iqbal Honoured with Major Dhyan Chand Lifetime Achievement Award
- Zafar Iqbal, a key member of India’s Moscow 1980 Olympic gold-winning hockey team, was honoured with the Major Dhyan Chand Lifetime Achievement Award.
- Two-time Olympic medallist Hardik Singh and Navneet Kaur received the Balbir Singh Sr Award for Player of the Year (men and women categories) at the Hockey India Annual Awards 2025 in New Delhi.
- Hardik Singh won the Player of the Year (men) award for the third time, highlighting his consistent performance in international hockey.
Hockey India Awards 2025 winners
- Hockey India Baljit Singh Award for Goalkeeper of the Year- Bichu Devi Kharibam
- Hockey India Pargat Singh Award for Defender of the Year Winner- Sanjay
- Hockey India Ajit Pal Singh Award for Midfielder of the Year Winner- Sumit
- Hockey India Dhanraj Pillay Award for Forward of the Year Winner- Sukhjeet Singh
- Hockey India Asunta Lakra Award for Upcoming Player of the Year (Women-U21) Winner- Sakshi Rana
- Hockey India Jugraj Singh Award for Upcoming Player of the Year (Men-U21) Winner- Prince Deep Singh
- Hockey India Balbir Singh Sr. Award for Player of the Year (Women) Winner- Navneet Kaur
- Hockey India Balbir Singh Sr. Award for Player of the Year (Men) Winner- Hardik Singh
- Major Dhyan Chand Lifetime Achievement Award Winner- Zafar Iqbal
Sports News
Kimi Antonelli Wins Japanese Grand Prix at Suzuka
- Kimi Antonelli of Mercedes won the Japanese Grand Prix at Suzuka, securing his second consecutive victory in Formula One.
- With this win, the 19-year-old became the youngest driver in Formula One history to lead the World Championship standings.
2026 F1 Grand Prix Winner
- Chinese Grand Prix – Mercedes’s Kimi Antonelli (Italy)
- Australian Grand Prix – Mercedes’s George Russell (Britian)
Defence News
INS Trikand Reaches Maputo During Operational Deployment in the South-West Indian Ocean
- INS Trikand has reached Maputo as part of its operational deployment in the South-West Indian Ocean Region.
- The deployment supports India’s MAHASAGAR vision (Mutual and Holistic Advancement for Security and Growth Across Regions), focusing on regional security and cooperation.
INS Sudarshini Arrives at Sète for ‘Lokayan-26’ Expedition
- INS Sudarshini reached Sète as part of the transoceanic expedition ‘Lokayan-26’.
- The vessel will participate in the Escale à Sète, a major international gathering of traditional tall ships.
- Before arriving in France, the ship made port calls in Oman, Egypt, and Malta.
Indian Navy Hosts IMEX TTX 2026 in Kochi with IONS Nations; India Assumes Chairmanship 2026–2028
- Indian Navy hosted IMEX TTX 2026 (IONS Maritime Exercise Tabletop Exercise) at Maritime Warfare Centre Kochi, bringing together Indian Ocean Naval Symposium members and international officers to discuss maritime security.
- Multiple countries including Bangladesh, France, Indonesia, Kenya, Maldives, Mauritius, Myanmar, Seychelles, Singapore, Sri Lanka, Tanzania, and Timor-Leste participated, while India takes over IONS Chairmanship for 2026–2028 after 16 years.
Important Days
1 April – Odisha Day (Utkal Divas)
- Odisha Day (Utkal Divas) is celebrated on April 1 every year to mark the formation of the state of Odisha in 1936.
- On this day, Odisha became the first Indian state to be formed on a linguistic basis, recognising the Odia-speaking population.
1 – 7 April – Prevention of Blindness Week
- Prevention of Blindness Week is observed every year from April 1 to April 7 to raise awareness about eye care and the prevention of avoidable blindness.
- The initiative focuses on promoting early detection, timely treatment, and regular eye check-ups to reduce vision impairment.
- It also highlights common causes of blindness such as cataract, glaucoma, and refractive errors, encouraging public awareness and healthcare access.
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