Daily Current Affairs (07-Apr-26)

Daily Current Affairs  (07 – Apr – 26)

1. Insolvency and Bankruptcy Code (Amendment) Bill, 2025  –

• The Lok Sabha has passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, introducing 12 key amendments to Insolvency and Bankruptcy Code, 2016 (IBC) aimed at maximizing stakeholder value, enforcing strict resolution timelines, and aligning Indian law with global best practices like cross-border insolvency. 

What are the Key Provisions of the IBC (Amendment) Bill, 2025? 

• New Resolution Models: The Bill replaces the fast-track process with a creditor-initiated insolvency framework featuring an out-of-court settlement option and a “debtor-in-possession, creditor-in-control” model to maintain business continuity.
• Strict Timelines: It sets a timeline of 180 days for completion of liquidation, extendable up to 90 days. Admissions of insolvency applications must occur within 14 days once a default is established.
• The Adjudicating Authority must approve or reject resolution plans within 30 days, and National Company Law Appellate Tribunal (NCLAT) appeals must be decided within 3 months.
• Compressed Process:The new out-of-court initiation mechanism has a compressed 150-day timeline to expedite the recovery process.
• Cross-Border and Group Insolvency: The Bill provides an enabling framework for cross-border insolvency and group insolvency, crucial for promoting international investor confidence and handling complex corporate structures.
• Deterrents for Litigation: To curb delays caused by extensive litigation, penalties ranging from Rs 1 lakh to Rs 2 crore will be imposed on individuals initiating frivolous or vexatious proceedings.
• Protection of Workmen: Under the IBC hierarchy, workmen’s dues are given high priority, placed on par with secured creditors and ranked above unsecured financial creditors and government dues.
• Post-Resolution Success: Market capitalization of resolved firms reportedly grew from Rs 2.8 lakh crore to Rs 9 lakh crore within 5 years, demonstrating the long-term efficacy of the framework.

2. Indian Navy INS Aridaman: Features, Role, and Strategic Importance –

What is INS Aridaman

• INS Aridaman is part of the India’s Arihant-class submarines which is designed the carry nuclear-tipped ballistic missiles.
• After this induction India has now has three operational SSBNs (Ship Submersible Ballistic Nuclear submarines) at sea for the first time in the naval history.
• This is important because it has strengthens the second-strike capability and also enhance the strategic deterrence. It will strengthens the India’s position as the major naval power in world.
• The submarine will ensures that India can respond even after the potential nuclear attack.

Advanced Features of INS Aridaman

• INS Aridaman is the more advanced and the powerful compared to its predecessors.
• It has the approximately around. 7,000-tonne displacement.
• It will be equipped with the more vertical launch system (VLS) tubes.
• Aridaman can carry the K-15 and K-4 nuclear-capable missiles.
• This K-4 missiles have the range of up to 3,500 km
• Nuclear submarine is powered by the advanced nuclear reactors and it will be enabling long underwater endurance.

3. Inaugural Khelo India Tribal Games 2026 Concludes: Karnataka Emerges Victorious –

• Inaugural edition of Khelo India Tribal Games of 2026 (KITG) concluded on the 4th of April, 2026. As the tournament concludes state of Karnataka has clinched the top position and it is showcasing an outstanding all-round performance by them. As they have clinched the 23 gold, 8 silver and 7 bronze medals. With this Karnataka have dominated the medal tally and sand they have secured the championship title. this tournament have brought together the tribal athletes from across the country and make important step to promoting grassroots sports and inclusiveness.

Top Performers: Medal Tally Highlights

• In this edition the performance from the several states are challenging and giving tough fights to each other.
• Karnataka – 1st position (23 Gold)
• Odisha – 2nd position (21 Gold)
• Jharkhand – 3rd position (16 Gold)
• Chhattisgarh (Host) – 9th position

4. India Forex Reserves Fall by $30.5 Billion in March 2026: Reasons and Impact –

Forex Reserves Fall March 2026

• The total forex reserves of the country had dropped to $688.05 billion for the week which was ending March 27. And it was down from the $728.5 billion in the late February 2026 where it has peak the numbers.
• The decline was mainly driven by the RBI’s intervention in the forex market to control rupee volatility and along with that 4% of the depreciation of the rupee against the US dollar in March. Also the global uncertainties are linked to rising the geopolitical tensions.
• To fight against this challenges the central bank of India had sold the dollars to support the rupee and this lead to the reduction in the reserves.

Breakdown of the Decline in Forex Components

• The decline in forex reserves was not uniform across all the components.
• Foreign Currency Assets (FCA): Declined by the $6.62 billion
• Gold Reserves: Fell around the $3.66 billion
• Special Drawing Rights (SDRs): Increased slightly to the $18.64 billion
• IMF Reserve Position: Marginally declined to the $4.81 billion

5. E20 Petrol India 2026: Nationwide Rollout from April 1 –

E20 Petrol Becomes Standard in India: What Has Changed

• The central government has made the E20 fuel the standard petrol across all states and Union Territories In India.
• The direction has been given to the oil marketing company of India to ensure uniform fuel quality across the nation and also to follow the Bureau of Indian Standards (BIS) norms. And after this supply that E20 fuel consistently nationwide. With this introduction it is compliment the India’s long-term ethanol blending program.

What Is E20 Fuel?

• E20 petrol is a blend of the
• 80% petrol
• 20% ethanol  which is known as the bip-fuel.
• That Ethanol is produced from the different agricultural sources like the,
• Sugarcane
• Maize
• Other grains

MCQ Quiz

Q1. Gangotri National Park is located in which state ?

1. a) Uttarakhand
2. b) Himachal Pradesh
3. c) Rajasthan
4. d) Gujarat

Q2. The Central Government has recently mandated petrol pumps to supply E20 fuel. What does E20 fuel represent ?

1. a) 20% petrol + 80% ethanol
2. b) 20% ethanol + 80% petrol
3. c) 50% ethanol + 50% petrol
4. d) 100% ethanol

Q3. Recently, the SAMPANN digital platform was in the news after agreements were signed to onboard it for pension disbursement. SAMPANN is the flagship platform of which of the following departments ?

1. a) Department of Financial Services
2. b) Department of Telecommunications
3. c) Department of Expenditure
4. d) Department of Pension and Pensioners’ Welfare

Q4. With reference to Article 161 of the Constitution of India, consider the following statements:

1. The Governor can grant pardon, reprieve, respite, remission, suspension, or commutation of sentences.
2. The Governor can pardon a death sentence.
3. The Governor’s power extends to offences under laws within the State’s executive domain.

Which of the statements given above is/are correct ?

1. a) 1 and 2 only
2. b) 1 and 3 only
3. c) 2 and 3 only
4. d) 1, 2, and 3

Explanation-

• Statement 1 is correct: Article 161 gives the Governor clemency powers such as pardon, reprieve, remission, etc.
• Statement 2 is incorrect: Only the President under Article 72 of the Constitution of India can pardon a death sentence. The Governor can only commute or remit it.
• Statement 3 is correct: The Governor’s power applies only to matters within the State’s executive jurisdiction.

Q5. Consider the following statements regarding India’s energy strategy:

1. India aims to increase the share of natural gas in its energy mix to 15% by 2030.
2. LNG sources are geographically more diversified than LPG sources.
3. LPG prices are less volatile compared to PNG prices.

Which of the statements given above is/are correct ?

1. a) 1 and 2 only
2. b) 1 and 3 only
3. c) 2 and 3 only
4. d) 1, 2, and 3

Explanation-

• Statement 1 is correct: Target = 15% gas share by 2030.
• Statement 2 is correct: LNG imports come from multiple countries (U.S., Australia, Russia).
• Statement 3 is incorrect: LPG prices are more volatile, linked to crude oil.
• In the current context, amid rising geopolitical tensions in West Asia, especially conflicts related to Iran, the United States is putting pressure on Saudi Arabia to join the Abraham Accords, which has once again brought this issue to the center of international discussions.