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UPSC current affairs · Saturday

Current Affairs, 21 March 2026

4 issues picked from 38 PIB releases · about 2 minutes each · written by UPSC Grade, each fact checked against its PIB release or by a second model

How to readRead “Why in news” and “What it is” for every issue. Open For Prelims or For Mains for the exam you’re preparing for, then Test yourself at the foot of each card. Half the news questions in Prelims are answered from background, not the news itself.

In 60 seconds

  1. Invasive Alien Species and National Biodiversity Authority Expert Committee. NBA forms two-year expert committee on invasive alien species after NGT direction; to prepare national list.
  2. Credit Guarantee Scheme for Microfinance Institutions 2.0 (CGSMFI-2.0). Government guarantees bank loans to MFIs, up to Rs 20,000 crore, to revive microfinance lending.
  3. Indian Carbon Market and Carbon Credit Trading Scheme. India launched a central online portal to run its carbon market under the CCTS.
  4. Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME). MCGS-MSME modified: service units covered, refundable upfront fee, and a special 75% guarantee for exporters.
1

Law and statutory body

Invasive Alien Species and National Biodiversity Authority Expert Committee

GS3 Environment and BiodiversityPrelims and Mains

Why in news
On 21 March 2026, the National Biodiversity Authority (NBA) said it has set up an Expert Committee on Invasive Alien Species, following directions of the National Green Tribunal.
What it is
The National Biodiversity Authority is a statutory body set up under the Biological Diversity Act, 2002 to regulate access to biological resources and ensure fair benefit sharing. Invasive alien species are non-native species that spread and harm native biodiversity, ecosystems, agriculture and health. India has had no consolidated national list of such species.
Legal power used
The NBA formed the committee using its powers under the Biological Diversity Act, 2002, as amended in 2023.
Trigger
The NGT took up the matter on its own (suo motu, O.A. No. 162/2023) and directed the NBA to carry out a comprehensive study.
Mandate
It must prepare a consolidated national list from State-wise inputs, prioritise high-risk species, and recommend management strategies and national guidelines.
Tenure
The committee will function for two years.
Leadership
Chair is Dhananjai Mohan, retired IFS officer; Co-Chair is Prof. A. Biju Kumar of Kerala University of Fisheries and Ocean Studies.
NBA basis
The NBA is a statutory body created under the Biological Diversity Act, 2002, headquartered in Chennai.

Don’t confuse with NBA vs State Biodiversity Boards: The NBA is the national statutory body; State Biodiversity Boards work at State level and Biodiversity Management Committees at local body level.

Don’t confuse with NBA vs NGT: The NGT is a judicial body that gave directions; the NBA is a regulatory body that acts on them.

Laws, judgments and statutory bodies: 30 Prelims questions since 2013 (what the law says, who chairs, legal basis). In Mains, 44 news-triggered questions, most in GS2, asking for provisions and challenges.

No practice question for this one; the card may still help an answer. Why: Lasting environment topic under the Biological Diversity Act; invasive species have appeared in Prelims, but this committee has few testable facts, so no question.

Worth revising until Prelims 2027: most news questions come within two years of the event.

2

Scheme

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

GS3 Economy · Financial InclusionPrelims and Mains

Why in news
On 21 March 2026 the Finance Ministry announced CGSMFI-2.0, a credit guarantee scheme through NCGTC meant to ease lending to microfinance institutions facing stress.
What it is
CGSMFI-2.0 is a central credit guarantee scheme launched on 20 March 2026. It gives guarantee cover through NCGTC to banks and financial institutions that lend to NBFC-MFIs and MFIs. These MFIs on-lend to small borrowers, so the scheme aims to keep credit flowing to the microfinance sector.
Loan cap
Maximum loan to large NBFC-MFIs/MFIs raised from ₹300 crore to ₹1000 crore, within an overall ceiling of 20% of AUM.
Guarantee coverage
Cover is 80% of the amount in default for small, 75% for medium and 70% for large NBFC-MFIs/MFIs.
Guarantee fee
The fee is 0.50% a year, on the sanctioned amount in the first year and on the outstanding amount after that.
Implementing agency
Guarantees are issued through NCGTC.
Guarantee agency
Guarantee cover is given through the National Credit Guarantee Trustee Company Limited (NCGTC) to banks and FIs lending to NBFC-MFIs and MFIs.
Coverage rates
The guarantee covers 80% of the amount in default for small, 75% for medium and 70% for large NBFC-MFIs/MFIs.

Don’t confuse with CGSMFI-2.0 vs Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE): CGSMFI-2.0 guarantees loans to MFIs through NCGTC; CGTMSE covers collateral-free loans to micro and small enterprises.

Don’t confuse with NBFC-MFI vs other MFIs: NBFC-MFIs are RBI-regulated non-bank finance companies; MFIs here also include other microfinance lenders. Both on-lend to small borrowers under the RBI definition of microfinance.

Schemes: 52 Prelims questions since 2013, 10 in Prelims 2026 alone. They test features, the period and who funds it. In Mains, 33 news-triggered questions, mostly GS3.

Test yourself

Worth revising until Prelims 2028: most news questions come within two years of the event.

3

Economy

Indian Carbon Market and Carbon Credit Trading Scheme

GS3 Environment: Climate Change and Carbon MarketsPrelims and Mains

Why in news
On 21 March 2026, Power Minister Manohar Lal launched the Indian Carbon Market Portal at Prakriti 2026, a two-day international carbon markets conference in New Delhi organised by the Bureau of Energy Efficiency.
What it is
The Indian Carbon Market is the national framework for trading carbon credits, set up under the Carbon Credit Trading Scheme (CCTS) 2023. It has a compliance part, where obligated entities must meet greenhouse gas emission intensity (GEI) targets, and an offset part, where registered projects earn credits. The Bureau of Energy Efficiency acts as its administrator.
The portal
The Indian Carbon Market Portal is a central platform to implement and administer the Indian Carbon Market.
Organiser
Prakriti 2026 was organised by the Bureau of Energy Efficiency under the patronage of the Ministry of Power and the Ministry of Environment, Forest and Climate Change.
Compliance side
GEI targets have been notified for nearly 490 obligated entities across seven energy-intensive sectors.
Offset side
Nine methodologies are notified. Over 40 registered entities are submitting projects in biogas, hydrogen and forestry.
Legal basis
The CCTS was notified in 2023 under the Energy Conservation Act, 2001, as amended in 2022.

Don’t confuse with Compliance vs offset mechanism: The compliance mechanism sets GEI targets for obligated entities. The offset mechanism lets voluntary projects earn credits after registration.

Don’t confuse with PAT scheme vs CCTS: PAT trades energy-saving certificates based on energy use. CCTS trades carbon credits based on greenhouse gas emission intensity.

Economy terms and data: 42 Prelims questions since 2013, rising in recent years; they test what a term or instrument means. In Mains, 12 news-triggered questions.

No practice question for this one; the card may still help an answer. Why: Lasting topic: Indian Carbon Market Portal launched by BEE. Carbon markets are a concept UPSC tests, but this release gives few firm facts for statements.

Worth revising until Prelims 2027: most news questions come within two years of the event.

4

Scheme

Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME)

GS3 Economy: MSMEs and CreditGS2 Welfare schemesPrelims and Mains

Why in news
On 21 March 2026 the Finance Ministry announced changes to the Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME), in line with Budget 2025-26. They widen coverage, ease compliance and add special terms for exporters.
Launch and guarantor
The scheme began in January 2025. NCGTC gives the guarantee to Member Lending Institutions.
Base coverage and loan limit
The general guarantee covers 60% for credit up to ₹100 crore, for buying machinery or equipment.
Eligibility widened
Service sector MSMEs are now included, not only manufacturers.
Project cost norm
Machinery or equipment must now be at least 60% of project cost, down from 75%.
Exporter eligibility
Profitable units that exported at least 25% of sales turnover in each of the previous 3 financial years qualify.

Don’t confuse with MCGS-MSME vs CGTMSE: CGTMSE gives credit guarantees for collateral-free MSE loans of smaller size. MCGS-MSME is a mutual guarantee for large loans up to ₹100 crore for machinery and equipment, run by NCGTC.

Schemes: 52 Prelims questions since 2013, 10 in Prelims 2026 alone. They test features, the period and who funds it. In Mains, 33 news-triggered questions, mostly GS3.

No practice question for this one; the card may still help an answer. Why: Modified scheme with testable features (60% cover, NCGTC, loans up to Rs 100 crore). Scheme Prelims questions are 16% of the total, but this is a narrow credit-guarantee tweak.

Worth revising until Prelims 2027: most news questions come within two years of the event.

Quick facts

  • India reached 1 billion tonne coal production on 20 March 2026, for the second year running.
  • INS Taragiri (F41), the fourth Project 17A stealth frigate built by Mazagon Dock, is to be commissioned at Visakhapatnam on 3 April 2026.

Source: PIB, 21 Mar

What we left out: 32 of 38 releases
  • Greetings and messages (7)
  • Training and workshops (1)
  • General explainers without news (1)
  • Routine MoUs (1)
  • Routine election procedure (1)
  • Workshops and events (4)
  • Speeches without a decision (7)
  • Same issue as another release (2)
  • Courtesy meetings (1)
  • Infrastructure feature stories (1)
  • Ceremonies and campaigns (2)
  • Routine meetings (4)

Practise the day’s news

In UPSC’s formats, inside each issue. The answer and why come after you choose.

  1. 1Credit Guarantee Scheme for Microfinance Institutions 2.0 (CGSMFI-2.0)MCQ · 3 true or false

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