LEGAL NEWS

Industrial Relations Code (Amendment) Bill, 2026 Passed by Parliament

• Parliament has cleared the Industrial Relations Code (Amendment) Bill, 2026, with the Rajya Sabha approving it on 12 February after earlier passage in the Lok Sabha.

• The amendment seeks to bring greater legal clarity and smoother implementation within the broader framework of the Labour Codes.

• It introduces structured compliance mechanisms along with strengthened provisions for worker welfare.

• Mandatory annual health check-ups have been prescribed for employees above 40 years of age.

• The principle of equal pay for equal work has been reaffirmed for both men and women workers.

• Employers are now required to issue formal appointment letters to all newly hired youth.

• The government defended the reforms, stating that criticism of the Labour Codes is politically driven.

• Opposition members expressed concerns regarding possible implications for hiring flexibility; following the Bill’s passage, the Rajya Sabha took up Special Mentions before adjourning to its next sitting.

IMPORTANT DAYS

National Productivity Council Marks 68th Foundation Day

• The National Productivity Council (NPC) celebrated its 68th Foundation Day on 12 February 2026, alongside the nationwide observance of National Productivity Week from 12–18 February.

• The theme for the 68th National Productivity Week is “Clusters as Growth Engine: Maximizing Productivity in MSMEs.”

• The focus is on promoting cluster-based development to enhance efficiency, competitiveness and growth among MSMEs.

• Union Commerce and Industry Minister Piyush Goyal serves as the President of NPC.

• The government continues to emphasise MSME strengthening, manufacturing competitiveness and sustainable industrial expansion.

• During the week, NPC’s 12 Regional Directorates will organise seminars, workshops and awareness campaigns across the country.

• NPC, established in 1958, functions as an autonomous body under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, and provides consultancy services to government and industry.

• NPC is a member of the Asian Productivity Organization, where India is a founding member and currently holds the chairmanship.

STATE NEWS

Delhi Metro Rail Corporation Magenta Line to Become Longest Corridor

• The Magenta Line (Line-8) of the Delhi Metro is set to become the network’s longest corridor following newly approved expansions.

• Under Phase-V (A), the line will be extended from Ramakrishna Ashram Marg to Indraprastha via Central Vista.

• Additionally, the Indraprastha–Inderlok corridor of Phase-IV will now function as an extension of the Magenta Line.

• Once completed, the corridor from Noida Botanical Garden to Inderlok will span nearly 89 kilometres, making it the longest in the Delhi Metro system.

• The entire expanded stretch will operate as a driverless Metro line, enhancing automation and efficiency.

• A total of 65 stations will be part of the corridor, including around 40 underground stations.

• The line will feature 21 interchange stations, with key locations like Central Secretariat and New Delhi serving as triple interchange hubs.

• The project is expected to ease congestion and ensure smoother, more connected travel across the Delhi-NCR region.

DEFENCE

India–Thailand Joint Air Exercise Enhances Operational Synergy

• A joint in-situ air exercise is being conducted between the Indian Air Force and the Royal Thai Air Force to strengthen operational coordination and interoperability.

• The exercise is taking place from 9 to 13 February, focusing on combined air operations and tactical integration.

• The Indian Air Force has deployed frontline assets including Su-30MKI fighter jets and IL-78 aerial refuelling aircraft.

• Airborne surveillance systems such as AWACS and AEW&C platforms are also participating to enhance situational awareness and command capabilities.

• The Royal Thai Air Force is contributing its Gripen fighter aircraft to the joint drills.

• The exercise aims to improve combat readiness, coordination in air operations, and mutual understanding of operational procedures.

• India and Thailand share longstanding friendly ties, marked by close defence and strategic cooperation.

• Diplomatic relations between the two nations were established in 1947, and the 75th anniversary of bilateral ties was celebrated in 2022.

BANKING NEWS

RBI Measures to Strengthen Cooperative Banks and Boost Credit Flow

• The Reserve Bank of India has introduced reforms, in consultation with the Government of India, to enhance governance, financial stability and digital inclusion in the cooperative banking sector.

• From 19 January 2026, loans extended by banks to the National Cooperative Development Corporation (NCDC) qualify as Priority Sector Lending (PSL), provided they comply with the Master Direction on PSL, 2025.

• The NCDC, functioning under the Ministry of Cooperation, will channel these funds to cooperative societies to improve credit availability. However, regional rural banks, urban cooperative banks, small finance banks and local area banks are excluded from this PSL provision.

• Urban Cooperative Banks (UCBs) are now allowed to open new branches, expanding their outreach and service capacity.

• The housing loan exposure limit for UCBs has been raised from 10% to 25% of their total loans and advances to strengthen retail lending.

• Amendments to the Banking Regulation Act, 1949 extend the tenure of directors in cooperative banks from eight to ten years, ensuring continuity in management.

• To promote digital payments, the licensing fee for cooperative banks to join the Aadhaar-enabled Payment System has been reduced. Rural cooperative banks have also been brought under the RBI’s Integrated Ombudsman Scheme for stronger grievance redressal.

• Institutional support has been expanded with the creation of the National Urban Cooperative Finance and Development Corporation Ltd (an NBFC umbrella body for UCBs), the shared technology platform Sahakar Sarathi for rural banks, and deposit insurance coverage up to ₹5 lakh per depositor through the Deposit Insurance and Credit Guarantee Corporation (DICGC).

SUMMIT AND CONFERENCE

Central Bureau of Investigation & Indian Cyber Crime Coordination Centre Hold National Conference on Cyber Fraud

• The CBI and the Indian Cyber Crime Coordination Centre (I4C) jointly organised a two-day national conference in New Delhi to address the rising challenge of cyber-enabled financial fraud.

• The event, which concluded on 11 February 2026, focused on dismantling networks and systems that facilitate online financial crimes.

• Participants deliberated on the need for regulatory reforms to better tackle rapidly evolving digital threats.

• Discussions highlighted the increasing use of artificial intelligence in cybercrime investigations and enforcement strategies.

• Delegates stressed the importance of international cooperation, noting that many cyber offences operate across borders.

• The emerging threat of cyber slavery was examined, with emphasis on strengthening preventive and rescue mechanisms.

• The misuse of social media platforms and messaging applications as tools for fraud was analysed in detail.

• Enforcement agencies and digital platforms were urged to enhance coordination, while AI-driven detection technologies were demonstrated during the conference.