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17 September 2026 Current Affairs (With PDF)

We bring you the most relevant and important news updates from around the world and India, specially curated for competitive exams and different entrance exams. Today's Current Affairs cover all significant national and international headlines, legal updates, economic news, and environmental highlights to boost your preparation. With our crisp, to-the-point coverage, you can confidently tackle current affairs questions in your exam.

Refugee Convention

Why in News?

The 1951 Convention Relating to the Status of Refugees, also known as the United Nations Conference of Plenipotentiaries on the Status of Refugees and Stateless Persons, recently marked its 75th anniversary.

Key Highlights of the Convention

1. Purpose

Establishes an internationally recognised definition of a refugee.
Sets out the legal protections, rights and assistance that refugees are entitled to receive.

2. Guardian

The United Nations High Commissioner for Refugees (UNHCR) serves as the guardian of the Convention.

3. Core Principles

(a) Non-Refoulement

A refugee should not be returned to a country where they face serious threats to their life or freedom.

(b) Rights and Protection of Refugees

Establishes minimum standards for the treatment of refugees.
These include access to Housing, Employment, Education.
The objective is to enable displaced persons to live with dignity and greater independence.

4. 1967 Protocol

The Convention’s framework was extended through the 1967 Protocol, adopted on 4 October 1967.
The original 1951 Convention was primarily designed to protect refugees in Europe in the aftermath of the Second World War.
The Protocol removed the Convention’s original geographical and temporal restrictions, extending its applicability beyond that initial context.

5. States Parties

149 States are parties to the 1951 Convention and/or its 1967 Protocol.
India is not a party to either instrument.

Definition of a Refugee — Article 1

Article 1 of the 1951 Convention defines a refugee as a person who is outside their country; and has a well-founded fear of persecution on the grounds of Race, Religion, Nationality, Membership of a particular social group, Political opinion.
The definition also covers stateless persons who are unable or unwilling to return to their former habitual residence.

Merchant Discount Rate (MDR)

Why in News?

The National Payments Corporation of India (NPCI) introduced a revised Merchant Discount Rate (MDR) framework for specified UPI merchant transactions, effective from 15 October 2026.

What is Merchant Discount Rate (MDR)?

MDR is the fee paid by merchants for payment-processing services in digital transactions.
It is generally calculated as a percentage of the transaction value.

1. Objectives

Generate revenue for participants in the digital payment ecosystem to support Payment infrastructure, Cybersecurity and fraud prevention, Technology upgrades, Expansion of payment services.

2. Collection and Distribution

MDR is collected from merchants by acquiring banks or payment service providers.
The amount is distributed among participants in the payment ecosystem.
MDR is not a tax or government levy.

3. How is MDR Determined?

RBI: Prescribes or caps MDR for regulated payment instruments, such as debit cards.
NPCI: Determines the UPI MDR framework through its UPI Steering Committee.

4. Zero-MDR Policy

The Finance (No. 2) Act, 2019 inserted Section 10A into the Payment and Settlement Systems Act, 2007.
The provision prohibits MDR on specified UPI and RuPay transactions from January 2020.

5. Interchange Fee

An interchange fee is paid by the acquiring bank to the issuing bank for processing a payment.
Unlike MDR, it is not charged directly to the merchant.

Revised UPI MDR Framework, 2026

1. Exemptions

Person-to-Person (P2P) transfers: Remain free, irrespective of transaction value.
Person-to-Merchant (P2M) payments: Transactions up to ₹2,000 remain MDR-free.
Person-to-Person-Merchant (P2PM) transactions:
- Applies to small merchants receiving payments through UPI QR codes.
- Remains MDR-free for monthly receipts of up to ₹1 lakh.

2. Standard MDR Rates

P2M transactions exceeding ₹2,000 attract an MDR of 0.4%.
For transactions of ₹75,000 or more, MDR is capped at ₹300.

3. Special MDR Rates

Transaction category	MDR provision
Railways, telecom, insurance, fuel and agricultural inputs	Flat ₹5 for transactions above ₹2,000
Capital-market payments	0.02%, capped at ₹300

4. Consumer Protection Measures

Merchants are prohibited from transferring MDR costs to customers.
UPI applications cannot impose platform fees or hidden charges.

Personal Guarantors under the IBC

Why in News?

The Insolvency and Bankruptcy Board of India (IBBI) has proposed stronger safeguards for resolving insolvency cases involving personal guarantors of corporate debtors.

About the IBBI

The IBBI is a statutory regulator established under the Insolvency and Bankruptcy Code (IBC), 2016.
It regulates Insolvency professionals, Insolvency professional agencies, Information utilities.
It also oversees insolvency and bankruptcy proceedings.

Personal Guarantor Insolvency Framework

1. Who is a Personal Guarantor?

A personal guarantor is an individual who agrees, through a guarantee contract, to repay a corporate debtor’s debt if the debtor fails to meet its obligations.

2. Co-extensive Liability

Under Section 128 of the Indian Contract Act, a guarantor’s liability is generally co-extensive with that of the principal debtor, unless the contract provides otherwise.
Creditors may seek recovery from the guarantor, the corporate debtor, or both.

3. Continuing Liability after Corporate Resolution

In Lalit Kumar Jain v. Union of India (2021), the Supreme Court held that approval of a corporate debtor’s resolution plan does not automatically discharge its personal guarantor from liability.

4. Adjudicating Authority

The National Company Law Tribunal (NCLT) adjudicates insolvency and bankruptcy proceedings involving personal guarantors of corporate debtors.

5. Resolution Process

Once an insolvency application is admitted:

The personal guarantor prepares a repayment plan with the assistance of a resolution professional.
Creditors consider and vote on the proposed plan.
The NCLT decides whether to approve or reject the plan.

6. Current Status

By June 2026, approximately 1% of applications had resulted in approved repayment plans.
Recoveries were reported at around 1% of admitted claims.

Challenges in Personal Guarantor Insolvency Resolution

1. Conflict in Creditor Voting

Creditors connected to a guarantor may still participate in voting if they do not fall within the narrower statutory definition of an “associate.”
Under Section 79(2) of the IBC, associates include specified Relatives, Business partners, Employers or employees, Certain trusts, Companies substantially owned or controlled by the guarantor.

2. Limited Scrutiny of Transactions

Inadequate examination of preferential, undervalued and extortionate credit transactions may allow asset diversion to go undetected.
This can reduce the value available for recovery by creditors.

3. Gaps in Asset Valuation

The absence of mandatory independent valuation may leave creditors without reliable estimates of Fair value of the guarantor’s assets and Realisable value, or the amount likely to be recovered from those assets.

4. Lack of Transparency in Decisions

Recording voting outcomes without documenting the commercial reasons behind them limits scrutiny.
This becomes particularly significant when repayment plans involve substantial haircuts on admitted claims.

5. Non-cooperation by Guarantors

Failure to disclose financial information or submit a repayment plan can delay the resolution process.
Such delays may result in proceedings moving towards bankruptcy.

6. Parallel Proceedings

Simultaneous insolvency proceedings against a corporate debtor and its personal guarantor can complicate coordination of Claims, Recoveries, Liabilities.

Proposed Amendments by IBBI

1. Enhanced Transaction Scrutiny

Resolution professionals would examine specified transactions before creditors vote on a repayment plan, including Preferential transactions, Undervalued transactions, Fraudulent transactions, Extortionate credit transactions, involving loans on unfair terms.

2. Mandatory Asset Valuation

A registered valuer would assess the guarantor’s assets before creditors consider the repayment plan.
The assessment would cover both Fair value and Realisable value.

3. Restrictions on Creditor Voting

Creditors that are related parties of the guarantor would be prohibited from voting on the repayment plan.
The proposed safeguard seeks to address potential conflicts of interest in creditor decision-making.

4. Recording Reasons for Approval

The resolution professional would document creditors’ deliberations and the reasons supporting their decisions.
Particular attention would be required where the proposed recovery is substantially below the admitted claims and the estimated realisable value of the guarantor’s assets.

Indian Cybercrime Coordination Centre (I4C)

Why in News?

Meta has announced that it will directly report matters related to child safety to the cybercrime portal operated by the Indian Cybercrime Coordination Centre (I4C).
The development highlights the role of coordinated reporting and enforcement mechanisms in addressing online crimes against children.

About I4C

The Indian Cybercrime Coordination Centre (I4C) is an initiative of the Ministry of Home Affairs (MHA) to strengthen India’s institutional response to cybercrime.
It provides a coordinated framework and ecosystem for law-enforcement agencies to address cybercrime in a comprehensive manner.
Headquarters: New Delhi

Key Objectives

Serves as a nodal point for combating cybercrime across the country.
Protection of Women and Children: Strengthens efforts to tackle cybercrimes targeting women and children.
Complaint Facilitation: Enables easier reporting of cybercrime-related complaints.
Supports the identification of emerging cybercrime trends and patterns.
Early Warning Mechanism: Functions as an early-warning system for law-enforcement agencies.
Facilitates proactive measures for cybercrime prevention and detection.
Public Awareness: Promotes awareness among citizens regarding cybersecurity practices and prevention of cybercrime.

World’s Longest Steel Slag Road

Why in News?

India has entered the Guinness World Records for constructing the world’s longest road using processed steel-slag aggregates.
The 1.85-km, four-lane road is located in Raigarh, Chhattisgarh.

Key Features

1. Developed By

Jindal Steel Limited and CSIR–Central Road Research Institute (CSIR-CRRI)

2. Construction Benefits

The use of processed steel slag has Reduced road construction costs by nearly 40%. And Lowered pavement thickness by around 35%.
Steel-slag-based roads offer high durability and resistance to rutting, abrasion and weather-related deterioration.

3. Circular Economy

The project replaces conventional natural stone aggregates with processed steel slag.
This reduces dependence on rock quarrying and virgin natural resources.
It supports the Waste to Wealth approach and contributes to India’s broader Net Zero transition.

About Steel Slag

Steel slag is a solid industrial by-product generated during the steel-making process.
It primarily contains complex silicates and oxides of calcium, iron, silicon, aluminium and magnesium.
Important Properties: High mechanical strength, Strong load-bearing capacity, Resistance to weathering and abrasion
Roads constructed with processed steel slag can be significantly stronger than conventional bituminous roads, with improved resistance to rut formation and weather-related damage.

World Ozone Day

Why in News?

World Ozone Day 2026 was observed on 16 September, commemorating the Montreal Protocol and marking 10 years since the adoption of the Kigali Amendment.

About the Ozone Layer

The ozone layer is located in the stratosphere, approximately 10–40 km above Earth’s surface.
It protects life on Earth by absorbing harmful ultraviolet-B (UV-B) radiation.

Key International Agreements

1. Montreal Protocol, 1987

The Montreal Protocol is a multilateral environmental agreement aimed at protecting the ozone layer.
It regulates nearly 100 human-made ozone-depleting substances (ODS).
Its key objective is to phase out chlorofluorocarbons (CFCs) and other chemicals that damage the ozone layer.

2. Kigali Amendment, 2016

The Kigali Amendment was adopted in 2016 and entered into force in 2019.
It is a legally binding addition to the Montreal Protocol.
It mandates the gradual phase-down of hydrofluorocarbons (HFCs):
- Developed countries: 80–85% phase-down by 2036.
- Developing countries: Phase-down extending into the late 2040s.
Full implementation is projected to prevent up to 0.5°C of global warming by 2100.

Status of Ozone Layer Recovery

The global ozone layer is gradually recovering, supported by the phase-out of nearly 99% of controlled ozone-depleting substances under the Montreal Protocol.
These projections are based on the 2022 UNEP–WMO assessment.

Region	Expected return to 1980 ozone levels
Outside polar regions	Around 2040
Arctic	Around 2045
Antarctica	Around 2066

Samvatsari

Why in News?

The Prime Minister extended greetings to the people on the sacred occasion of Samvatsari.

About Samvatsari

Samvatsari is regarded as the holiest day in the Jain calendar.
It falls on the final day of Paryushana Parva, the most significant festival of the Shwetambara sect of Jainism.

Other Names

Kshama Yachna Divas: Day of seeking forgiveness.
Ahimsa Divas: Day of non-violence.
Daya Divas: Day of compassion and kindness.

Paryushana Parva

Paryushana Parva is the most sacred annual festival in Jainism.
It is dedicated to spiritual introspection, purification and the practice of universal forgiveness.

One-Liners

Nuakhai: Also known as Nuakhai Juhar, Nuakhai Parab or Nuakhai Bhetghat, it is primarily celebrated in Western Odisha, southern Chhattisgarh and adjoining areas of Jharkhand.
Observed on Panchami Tithi of Bhadrapada (August–September), a day after Ganesh Chaturthi, the festival is associated with the Vedic Pralambana Yajna, has tribal origins, and was institutionalised in the 14th century by Raja Ramai Deo of Patnagarh.
S-71K Kovyor: Russia has unveiled the S-71K Kovyor, a turbojet-powered, air-launched stealth cruise missile intended for the Su-57E fifth-generation fighter aircraft.
Designed for stand-off strikes, it reportedly features an asymmetric radar-evading airframe, carries a 250-kg high-explosive warhead and has an estimated range of 300–350 km.
Russia is also discussing Su-57 production technology transfer and joint manufacturing with India.
Matryoshka Dolls: Matryoshka dolls are traditional Russian wooden nesting dolls, consisting of progressively smaller hollow figures placed inside one another.
The name refers to a “little matron” in Russian and is commonly associated with motherhood and family.
Chocolate Matryoshka dolls were reportedly used to welcome Russian delegates at the 18th BRICS Summit in New Delhi.

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