Daily Current Affairs and GK updates 27 March 2026

Current Affairs and General Knowledge for commpetitive exams 27/03/2026

Today’s update for March 27, 2026, highlights a day of high tension as global conflicts severely impacted India’s economy. While the government dismissed internal stability rumors, the stock market and rupee faced historic pressure from the escalating West Asia war.

National & Polity

• As of March 27, 2026, India has reimposed a windfall tax on the export of diesel (₹21.5/litre) and aviation turbine fuel (ATF) (₹29.5/litre). This move aims to curb excessive profits by private refiners amid soaring global oil prices while simultaneously lowering domestic excise duties on petrol and diesel to stabilize consumer prices and control inflation.
• Zojila Pass Tragedy: A massive avalanche at the Zojila Pass in Ladakh resulted in the tragic death of seven individuals. Rescue operations were hampered by inclement weather and an Orange Alert issued by the IMD for heavy rain and snow in the region.
• Transgender Rights Bill: The Lok Sabha passed the Transgender Persons (Protection of Rights) Amendment Bill, 2026. Key changes include the recognition of intersex conditions and the inclusion of traditional transgender communities under a designated medical authority.
• Maternity Leave Ruling: The Supreme Court struck down age limits on maternity leave for adoptive mothers, ruling that they are entitled to 12 weeks of leave regardless of the child's age at the time of adoption.
• Defence Ministry today signed contracts worth 858 crore rupees for the procurement of Tunguska Air Defence Missile System and Inspection (Depot Level) of the P8I Long-Range Maritime Reconnaissance Aircraft. The Ministry said that the contract for the procurement of Tunguska Air Defence Missile Systems, for the Indian Army was signed with JSC Rosoboronexport, Russia, in the presence of Defence Secretary Rajesh Kumar Singh. It said these cutting-edge missiles will enhance the country’s multilayered air defence capabilities against aerial threats, including aircraft, drones and cruise missiles. The agreement will further strengthen the Indo-Russian strategic defence partnership.
• Jan Vishwas Bill, 2026:MoS for Commerce & Industry Jitin Prasada introduces Jan Vishwas Bill, 2026, in Lok Sabha.The legislation amends certain enactments for decriminalising and rationalising offences to further enhance trust-based governance for ease of living and doing business.
• India Supplies 30% of Global Generic Medicines: MoS Health Anupriya Patel:Union Minister of State for Health and Family Welfare, Anupriya Patel, has said that India currently supplies nearly 30 percent of the generic medicines globally, which reflects the country’s growing role in affordable healthcare worldwide.

International & Geopolitics

• Balendra Shah Sworn in as Nepal’s Youngest Democratically Elected Prime Minister:Balendra Shah, the parliamentary party leader of the Rastriya Swatantra Party (RSP), took the oath as Nepal’s democratically elected Prime Minister today. The 35-year-old RSP leader who became the country’s youngest Prime Minister was administered the oath of office and secrecy by President Ramchandra Paudel at the President’s Office in Sheetal Niwas.Israeli Strikes on Iran: Tensions reached a boiling point as Israeli air strikes hit Iranian nuclear facilities. International monitors expressed grave concern over the potential for radioactive contamination, though no immediate leaks were reported.
• US President Donald Trump’s Signature to Appear on Dollar Bills for First Time in History:US President Donald Trump’s signature is set to feature on US paper currency soon, a first for a sitting President since the introduction of dollar bills in 1861. The decision, taken by the US Treasury, coincides with the 250th anniversary celebrations of American Independence this year.
• 𝐏 𝐊𝐮𝐦𝐚𝐫𝐚𝐧 𝐚𝐩𝐩𝐨𝐢𝐧𝐭𝐞𝐝 𝐚𝐬 𝐈𝐧𝐝𝐢𝐚’𝐬 𝐇𝐢𝐠𝐡 𝐂𝐨𝐦𝐦𝐢𝐬𝐬𝐢𝐨𝐧𝐞𝐫 𝐭𝐨 𝐔𝐊:Indian Foreign Service Officer Periasamy Kumaran has been appointed as the next High Commissioner of India to the United Kingdom

Economy & Business

• Stock Market Crash: The Indian stock market witnessed a "Black Friday" as the Sensex crashed 1,690 points (2.25%) to close at 73,583, while the Nifty 50 plummeted 487 points to end at 22,819. Approximately ₹9 lakh crore of investor wealth was eroded in a single day.
• Rupee at All-Time Low: The Indian Rupee hit a record low, sliding past the ₹94.80 mark against the US Dollar. Sustained FII selling and high crude oil prices (surging past $156 per barrel for the Indian basket) put immense pressure on the currency.
• Goldman Sachs Growth Cut: Citing the ongoing US-Iran conflict, Goldman Sachs lowered India’s GDP growth forecast for 2026 to 5.9% from the earlier 7.0%.
• RBI announces its ‘Payments Vision 2028’, outlining roadmap to strengthen & expand India’s rapidly growing digital payments ecosystem:Anchored in the theme, ‘Shaping India’s Payment Frontier’, the Vision document focuses on user empowerment, safeguards against fraud, improving the efficiency of cross-border payment frameworks, and promoting ease of doing business. Through its various initiatives, the Vision Document charts a course of action up to December 2028.Among key initiatives, the RBI has proposed developing an interoperability framework for Trade Receivables Discounting Systems (TReDS) to create a more integrated and efficient receivables financing ecosystem. It also plans to explore a “switch on/off” facility across all digital payment modes, similar to card controls, to help users manage transactions and reduce fraud risks.
• OECD Report: India Remains World’s Fastest-Growing Major Economy:The Organisation for Economic Cooperation and Development (OECD) has pegged India’s GDP growth rate at 7.6 per cent for 2025-26, 6.1 per cent for 2026-27 and 6.4 per cent for 2027-28, with the country remaining the world’s fastest-growing major economy.

Sports

• 8th Hockey India Annual Awards:Minister of Youth Affairs and Sports, Dr Mansukh Mandaviya, today felicitated athletes at the 8th Hockey India Annual Awards in New Delhi.Navneet Kaur and Hardik Singh named Players of the Year; Zafar Iqbal recognised with the Major Dhyan Chand Lifetime Achievement Award.

Important days observed

• March 27 is primarily celebrated as World Theatre Day, an international observance initiated in 1962 to promote the art form globally.

Static GK & Exam Snippets

• Strait of Hormuz: A vital chokepoint between the Persian Gulf and the Gulf of Oman; currently at the center of global energy security debates.
• A windfall tax is a higher, usually one-time tax levied by governments on specific industries or companies that experience suddenly high, unexpected profits due to external events, such as geopolitical crises, supply shortages, or sudden price spikes. These profits are not earned through normal business improvements, but rather by beneficial market circumstances. 
• Article 14 & 21: Cited by the Supreme Court in the landmark ruling on equal maternity rights for adoptive mothers.
• Zojila Pass: Located in the Zanskar Range, it connects Srinagar with Leh and is crucial for strategic movement in Ladakh.