NATIONAL NEWS

Uttarakhand Implements Uniform Civil Code (Amendment) Ordinance, 2026

The Government of Uttarakhand has implemented the Uniform Civil Code (Amendment) Ordinance, 2026 after receiving approval from the Governor of Uttarakhand, giving the ordinance immediate legal effect.

The ordinance has been promulgated under Article 213 of the Constitution of India, which empowers the Governor to issue ordinances when the State Legislature is not in session.

The Uniform Civil Code (UCC) was originally implemented in Uttarakhand on 27 January 2025, making it the first state in India to enforce a comprehensive Uniform Civil Code.

The amendment ordinance introduces procedural, administrative and penal reforms to strengthen the implementation of the existing Uniform Civil Code Act, 2024.

The key objective of the amendments is to remove ambiguities, improve clarity of provisions, and ensure effective enforcement of the Uniform Civil Code across the state.

The ordinance aligns penal provisions of the UCC with the new Indian criminal laws, ensuring legal consistency and updated punishment mechanisms.

A major focus of the amendment is on women’s empowerment, protection of children’s rights, and equality in civil laws applicable to all communities.

The amendments strengthen registration-related powers, improve the appellate mechanism, and enhance administrative authority for better implementation.

The Uniform Civil Code has significantly advanced digital governance, especially in marriage registration, by shifting processes from physical offices to online platforms.

Under the UCC framework, nearly 100 percent marriage registrations are now conducted online through document uploads and video-based verification of couples and witnesses.

Within one year of UCC implementation, more than five lakh marriages have been registered digitally, with marriage certificates issued within an average of five days.

 

BANKING

RBI and European Securities and Markets Authority Sign Memorandum of Understanding

The Reserve Bank of India (RBI) and the European Securities and Markets Authority (ESMA) signed a Memorandum of Understanding (MoU) on January 27, 2026, for cooperation and information exchange related to Central Counterparties (CCPs) regulated by RBI.

This MoU replaces the earlier agreement signed on 28 February 2017, which had lapsed, updating the framework for supervisory cooperation between the two authorities.

The agreement enables RBI and ESMA to cooperate on oversight of CCPs in accordance with their respective legal and regulatory frameworks, resolving a long-standing impasse.

The MoU establishes a framework for ESMA to rely on RBI’s regulatory and supervisory activities for Indian clearing houses (like CCIL), while safeguarding EU financial stability.

The agreement strengthens India–EU financial market linkages and reinforces global coordination in the regulation of critical financial market infrastructures.

The MoU was signed by Vivek Deep, Executive Director of RBI, and Verena Ross, Chair of ESMA.

The agreement demonstrates the importance of cross-border cooperation to facilitate international clearing activities, potentially reducing capital charges for European banks operating in India.

Bharti AXA Life Launches “Swabhimaan Retirement” Deferred Annuity Plan

Bharti AXA Life Insurance has launched a non-linked, non-participating individual deferred annuity plan named “Swabhimaan Retirement” to help customers lock in current annuity rates and secure guaranteed lifelong income.

The plan offers lifetime annuity payouts on a monthly, quarterly, half-yearly, or annual basis, with a joint-life option to ensure continued income for the surviving spouse.

The plan provides Premium Payment Term (PPT) options of 2, 3, and 5 years, with deferment periods of up to 7 years under select annuity options.

The plan allows partial withdrawal of surrender value after completion of premium payments, subject to policy terms and conditions.

The plan includes an Atmanirbhar option, allowing customers to withdraw funds in case of emergency.

Bharti AXA Life Insurance is a prominent Indian private life insurer, established in 2006, functioning as a joint venture between Bharti Enterprises (74% stake) and France-based AXA Group (26% stake).

The plan enables customers to plan early, lock in annuity rates at current levels, and ensure guaranteed income security for life for the policyholder or spouse.

SMFG India Credit Partners with Google Pay

SMFG India Credit (SMICC) has partnered with Google Pay to offer collateral-free personal loans to users across India.

Eligible Google Pay users can now apply for personal loans directly within the app, enabling quick and seamless digital loan disbursement (often within minutes).

The collaboration aims to expand access to formal credit, especially for underserved and emerging customer segments, supporting the vision of a digitally inclusive economy.

The digital lending process is designed to be fast, safe, and flexible, catering to India’s increasingly digital-savvy population.

The initiative promotes financial inclusion by providing formal credit facilities to individuals who may have previously lacked access to traditional banking.

The partnership strengthens SMICC’s position in the digital ecosystem, leveraging innovative technology to increase social impact.

Google Pay is a mobile payment service developed by Google that supports in-app, online, and in-person contactless transactions on mobile devices.

RBI Proposes Changes to Banks’ FX Exposure Framework and Capital Requirements for FX Risk

The Reserve Bank of India (RBI) has proposed changes to the framework for calculating banks’ net foreign exchange (FX) exposure and the capital requirements for FX risk.

The objective of the proposals is to align India’s FX risk norms with global standards (Basel Committee) and ensure uniform implementation across all regulated entities.

Under the proposed framework, banks must maintain a minimum capital charge of 9% on their net open foreign exchange positions.

The revised rules mandate that FX risk capital be maintained at the close of each business day, thereby strengthening daily risk management.

The RBI has invited public feedback on the proposals, which are proposed to come into effect from 1 April 2027.

 

DEFENCE

India and European Union Sign First-Ever Comprehensive Defence and Security Partnership

India and the European Union signed their first comprehensive Defence and Security Partnership, alongside the conclusion of the India–European Union Free Trade Agreement.

The agreement was si gned during the visit of European Union leaders to India for the 77th Republic Day celebrations, marking a historic expansion of bilateral ties beyond trade.

This is the first-ever overarching defence and security agreement between India and the European Union, reflecting a major strategic milestone in bilateral relations.

The partnership establishes a formal and comprehensive framework for cooperation in maritime security, defence industry, defence technology, and space security.

The agreement signals that India and the European Union now view each other as reliable and long-term security partners in a volatile global security environment.

Alongside the defence partnership, both sides launched negotiations on a Security of Information Agreement.

The Security of Information Agreement will enable the exchange of classified information while ensuring legal safeguards for the protection of sensitive data.

This agreement is a mandatory framework for the European Union to share classified material with third countries and is expected to strengthen defence-industrial and strategic cooperation.

The partnership reflects shared concerns over rising cross-regional security threats, increasing focus on Indo-Pacific maritime security, and evolving global geopolitical tensions.

The European Union’s growing defence preparedness, particularly amid concerns related to Russia and Ukraine, aligns with India’s push for defence self-reliance and diversification of strategic partners.

Both sides acknowledged the need for closer cooperation to counter terrorism, hybrid threats, and cyber insecurity.

India and the European Union also adopted the “Towards 2030: India–European Union Joint Comprehensive Strategic Agenda” to provide long-term direction to bilateral cooperation.

 

AWARDS & PRIZES

Taylor Swift to be Inducted into Songwriters Hall of Fame

Taylor Swift (aged 36) will become the second-youngest songwriter to be inducted into the Songwriters Hall of Fame.

She joins Stevie Wonder, who was inducted at the age of 33 in 1983, as the youngest inductees in the Hall of Fame’s history.

The announcement was made by the Songwriters Hall of Fame and confirmed on CBS Mornings.

Taylor Swift will be inducted alongside: Alanis Morissette, Kenny Loggins and Paul Stanley and Gene Simmons (members of the band Kiss)

The induction ceremony is scheduled to be held on 11 June 2026 at the Marriott Marquis Hotel, New York City.

Established in 1969, the Songwriters Hall of Fame requires that songwriters become eligible 20 years after the first commercial release of a song, with a significant and influential catalogue.

 

APPOINMENTS & RESIGNATIONS

Head Coach of India Women’s Senior Football Team

The All India Football Federation (AIFF) has officially appointed Amelia Valverde as the Head Coach of the Indian Senior Women’s National Football Team.

Amelia Valverde, aged 39 years, joined the Indian training camp in Antalya, Turkey, where the Blue Tigresses are preparing for the AFC Women’s Asian Cup Australia 2026, scheduled in March 2026.

She is the longest-serving head coach in the history of the Costa Rican Women’s National Team, leading Las Ticas from 2015 to 2023.

Under her guidance, Costa Rica qualified for the FIFA Women’s World Cup in 2015 and 2023, which are the only two World Cup appearances by the nation.

Amelia Valverde secured several international podium finishes, including Gold at the 2017 Central American Games, Silver at the 2018 Central American and Caribbean (CAC) Games, and Bronze at the 2019 Pan American Games.

She was honoured as the CONCACAF Female Coach of the Year 2016 for her outstanding coaching achievements.

 

IMPORTANT DAYS

International Data Privacy Day

International Data Privacy Day is observed annually on 28 January to promote awareness about personal data protection and privacy in the digital age.

The day was initiated in 2006 by the Council of Europe to commemorate the signing of Convention 108, the world’s first legally binding international treaty on data protection.

The Government of India has highlighted key reforms, including the Digital Personal Data Protection Act, 2023, Digital Personal Data Protection Rules, 2025, and a ₹782 crore cybersecurity allocation in the Union Budget 2025–26.

India is currently the third-largest digitalised economy in the world, with over 101.7 crore broadband users.

Indian users spend nearly 1,000 minutes online daily, supported by some of the lowest data costs globally.

Major platforms such as Aadhaar, Unified Payments Interface, MyGov, and eSanjeevani have transformed governance, payments, healthcare, and welfare delivery.

The Information Technology Act, 2000 provides the foundational legal framework for electronic governance, digital signatures, and cybersecurity oversight in India.

The Act empowers institutions such as the Indian Computer Emergency Response Team, which functions as the national cyber incident response agency.