Current Affairs - National

The Foundation Day of the Reserve Bank of India is observed on April 1 each year, marking its establishment in 1935 under the RBI Act of 1934. This day highlights the central bank’s crucial role in managing India’s monetary policy, controlling inflation, regulating the banking system, and ensuring financial stability. Over time, the RBI has expanded its functions to include digital payment security and financial innovation. Observing this day also emphasizes the institution’s continued importance in addressing modern economic challenges such as currency fluctuations, global uncertainties, and maintaining overall economic stability in India.

Sadhana Saptah is a nationwide capacity-building initiative launched by the Capacity Building Commission in April 2026. It is designed to strengthen governance by enhancing the skills and competencies of civil servants across India. The program involves participation from numerous ministries, states, and training institutions, making it one of the greatest collaborative efforts of its kind. Structured around themes like technology, tradition, and tangible outcomes, it aligns with the vision of Viksit Bharat 2047. The initiative also complements Mission Karmayogi by promoting role-based training and improving public service delivery.

Happy Jhappi is introduced as India’s first ritual gifting brand, focusing on strengthening relationships through daily shared practices rather than traditional one-time gifting. Founded by Nikhill Srivastava, the brand targets urban couples who value emotional connection and long-term relationship investment. It differentiates itself from conventional gifting companies by promoting consistent behavioural engagement between partners. Operating on a direct-to-consumer model, it emphasises brand integrity and premium positioning. This innovative concept reflects evolving consumer preferences toward meaningful experiences, emotional wellness, and sustained relationship-building in modern urban lifestyles.

The Government of India has permitted the distribution of Superior Kerosene Oil as a temporary measure to support households facing energy challenges. This distribution is being carried out through the Public Distribution System, which is a long-established mechanism for providing essential commodities to citizens at subsidized rates. The move addresses disruptions in global energy supplies and ensures access to fuel for cooking and lighting, particularly in regions where kerosene had earlier been phased out due to increased LPG usage. The initiative also includes logistical arrangements, safety measures, and regulatory relaxations for efficient implementation.

The Indian government has extended the PM E-DRIVE scheme for electric vehicle incentives until 2028, demonstrating its continued commitment to promoting sustainable mobility. This policy shift prioritises segments such as e-rickshaws and electric three-wheelers, which play a crucial role in last-mile connectivity and logistics. While subsidies for electric two-wheelers will end earlier, the extended timeline for other segments ensures steady growth in the EV ecosystem. The scheme also aims to balance economic growth with fiscal responsibility, encouraging manufacturers to focus on innovation, localisation, and market-driven strategies as subsidies are gradually phased out.