Latest Current Affairs 12 March 2026-Daily GK with FAQs
1. RBI Approves CRED as Payment Aggregator
CRED has received final approval from the Reserve Bank of India to operate as a Payment Aggregator (PA) on 11 March 2026.
Key Highlights
- CRED can now directly onboard merchants on its platform.
- It will accept digital payments on behalf of merchants.
- The company can manage fund settlement and refunds independently.
- Its payment system will operate under RBI supervision.
- CRED already holds a Prepaid Payment Instrument (PPI) license.
Major Competitors
- Razorpay
- Cashfree
- Pine Labs
Why It Matters
This approval strengthens India’s digital payment ecosystem and expands fintech competition.
2. Fiscal Health Index (FHI) 2026 Released
The second edition of the Fiscal Health Index (FHI) 2026 has been released by NITI Aayog in New Delhi.
Key Highlights
- Provides data-based evaluation of fiscal performance of states.
- Earlier edition covered 18 states.
- Now includes 10 northeastern and Himalayan states.
Top Performing States
- Odisha
- Goa
- Jharkhand
Northeast & Himalayan States Ranking
- Arunachal Pradesh
- Uttarakhand
- Tripura
5 Pillars of Assessment
- Expenditure Quality
- Revenue Mobilisation
- Fiscal Prudence
- Debt Index
- Debt Sustainability
The report was released by Vice Chairman Suman Bery and CEO Nidhi Chhibber.
3. Lok Sabha Rejects Motion Against Speaker
The Lok Sabha rejected a no-confidence motion against Speaker Om Birla by voice vote.
Key Points
- First such motion in nearly four decades.
- None of the previous motions against Speakers have succeeded.
Historical Attempts
- Motion against first Lok Sabha Speaker (Socialist Party).
- 1966 – Sardar Hukam Singh.
- 1987 – Balram Jakhar.
4. DRDO Tests Indigenous ADC-150 Container
Defence Research and Development Organisation and the Indian Navy successfully conducted four trials of the ADC-150 air-droppable container.
Trial Details
- Conducted off the Goa coast.
- Tested from Boeing P-8I Poseidon aircraft.
Features
- Payload capacity: 150 kg
- Purpose: Deliver emergency supplies to ships at sea.
Importance
Improves naval logistics and operational readiness.
5. UK Ends Hereditary Peers in House of Lords
The Parliament of the United Kingdom has abolished the system of hereditary peers in the House of Lords.
Key Reform
- Members can no longer sit in Parliament based on family lineage.
Background
- Reform process started in 1999.
- Over 600 hereditary peers removed earlier.
Significance
This marks a major step towards modern democratic reforms in the UK.
6. India to Host Asia Cup Archery 2027
India will host the Asia Cup Archery (Stage 2) in Delhi in 2027.
Key Highlights
- First major international archery event in Delhi after 22 years.
- Last hosted Asian Archery Championships in 2005.
Governing Body
World Archery Asia
Indian Archery Association
President: Arjun Munda
7. Supreme Court Allows Passive Euthanasia
The Supreme Court of India permitted passive euthanasia in the Harish Rana case.
Case Background
- Harish Rana was in Persistent Vegetative State (PVS) for 13 years.
What is Passive Euthanasia?
Withdrawal of life support such as:
- Ventilator
- Feeding tube
It was earlier legalized in the 2018 Common Cause judgment.
8. PM-KISAN 22nd Installment Released
Prime Minister Narendra Modi will release the 22nd installment of the Pradhan Mantri Kisan Samman Nidhi.
Key Details
- Amount: ₹18,640 crore
- Beneficiaries: 9.32 crore farmers
- Transfer Mode: Direct Benefit Transfer (DBT).
Scheme Benefits
- Annual support: ₹6,000
- Paid in 3 installments of ₹2,000 each.
Practice Quiz
Q1. Which company received RBI approval as a Payment Aggregator in March 2026?
A. Razorpay
B. Paytm
C. CRED
D. PhonePe
Answer: C
Q2. Which state topped Fiscal Health Index 2026?
A. Gujarat
B. Odisha
C. Karnataka
D. Tamil Nadu
Answer: B
Q3. ADC-150 container trials were conducted by which organizations?
A. ISRO and Army
B. DRDO and Indian Navy
C. Air Force and DRDO
D. Navy and ISRO
Answer: B
Q4. Passive euthanasia was legalized earlier by which judgment?
Answer: 2018 Common Cause Judgment
Q5. PM-KISAN provides how much annual financial support?
Answer: ₹6000
FAQs
What is a Payment Aggregator?
A Payment Aggregator is a platform that allows merchants to accept payments through multiple digital payment instruments such as cards, UPI and wallets.
What is Fiscal Health Index?
Fiscal Health Index is a report released by NITI Aayog to assess the fiscal performance of Indian states based on revenue, expenditure and debt indicators.
What is Passive Euthanasia?
Passive euthanasia refers to withdrawal of life-support systems allowing a terminally ill patient to die naturally.
What is PM-KISAN Scheme?
PM-KISAN is a government scheme that provides ₹6000 annually to small and marginal farmers through Direct Benefit Transfer.