GOVERNMENT / POLITY
Union Cabinet Decisions
Union Cabinet Approves ₹1 Lakh Crore 'Urban Challenge Fund' for Infrastructure Reform
The Union Cabinet, led by PM Narendra Modi, has sanctioned the establishment of a ₹1 lakh crore Urban Challenge Fund (UCF).
The fund aims to transition India's urban development from a grant-based model to a reform-driven, market-linked growth model.
It focuses on strengthening basic urban infrastructure while encouraging cities to compete for funding based on performance and reform metrics.
Perspective: This is a major structural shift in how municipal bodies receive funding, promoting accountability and financial sustainability at the local level.
The fund aims to transition India's urban development from a grant-based model to a reform-driven, market-linked growth model.
It focuses on strengthening basic urban infrastructure while encouraging cities to compete for funding based on performance and reform metrics.
Perspective: This is a major structural shift in how municipal bodies receive funding, promoting accountability and financial sustainability at the local level.
Key Facts / Static GK
PM of India: Narendra Modi
Urban Challenge Fund (UCF) Outlay: ₹1 lakh crore
Urban Challenge Fund (UCF) Outlay: ₹1 lakh crore
Practice Quiz — 23 March 2026
Q1. Regarding the 'PRARAMBH 2026' initiative, what does the 'N' represent in the M.A.N.A.V. framework?
Answer: (B) National Sovereignty — In the PRARAMBH 2026 framework M.A.N.A.V., the acronym stands for: Moral & Ethical Systems, Accountable Governance, National Sovereignty, Accessible & Inclusive AI, and Valid & Legitimate Systems.
Q2. What is the specific duration covered by the newly approved 'Utkarsh 3.0' strategy framework of the RBI?
Answer: (C) 2026-2029 — Utkarsh 3.0 is the Medium-Term Strategy Framework approved by the RBI board to cover a three-year period from 2026 to 2029.
Q3. Which of the following statements is true regarding the new UPI-linked credit line launched by Bank of Baroda?
Answer: (C) It is the first bank in India to introduce such a facility for Women SHGs. — Bank of Baroda is the 1st bank in India to introduce a UPI-linked credit line (OD facility) specifically for Women SHG members holding PMJDY accounts, with a maximum limit of ₹5,000.
Q4. What was the total value of India's textile exports in FY25 according to the NIRYAT data?
Answer: (C) USD 36,610 million — India’s total textile exports for the fiscal year 2024-25 (FY25) stood at USD 36,610 million, with Tamil Nadu contributing the largest share.
Q5. What was the primary reason Kaveh Madani was awarded the Stockholm Water Prize 2026?
Answer: (B) Contributions to water governance and crisis management — Kaveh Madani was honored for his contributions to water governance and shifting the global focus from infrastructure-only to governance-based solutions for water crisis management.
Keep Learning with PrepZen
Get daily current affairs, live mock tests, mistake bank, vocab builder & more — all free on your phone.