National Affairs

Union Minister Piyush Goyal Launches 7 Additional Interventions under EPM to Boost MSME Exports

Union Minister Piyush Goyal, Ministry of Commerce and Industry, launched seven additional interventions under the Export Promotion Mission (EPM) to empower Micro, Small and Medium Enterprises (MSMEs) and strengthen their global competitiveness.

With this launch, 10 of the 11 proposed interventions under EPM have become operational.

Already Operational Interventions under EPM:

• Market Access Support
• Interest Subvention for Pre- and Post-Shipment Export Credit
• Collateral Support for Export Credit

About 7 New Interventions:

The seven newly launched interventions are organised under two major pillars:

Key Objective:
The interventions aim to improve export credit access, logistics support, trade intelligence, compliance readiness, and market access for Indian MSMEs.

Ministry of Minority Affairs Organises Chintan Shivir at Nalanda University, Bihar

The Ministry of Minority Affairs organised ‘Chintan Shivir’ from 18 to 19 February 2026 at Nalanda University in Rajgir, Bihar.

The event served as a strategic platform to review and strengthen minority welfare policies and programmes.

Lead Ministers:

• Union Minister Kiren Rijiju, Ministry of Minority Affairs and Ministry of Parliamentary Affairs
• Union Minister of State George Kurian, Ministry of Minority Affairs

Digital Initiatives Launched:

NIGRANI App:
Launched under the PMJVK scheme to enable real-time monitoring and enhance transparency in infrastructure projects.

AI-Powered Chatbots:
Introduced to improve service delivery, provide easy access to information, and strengthen citizen engagement with the Ministry.

Haj Wrist Band:
A smart wearable device launched as part of Haj modernisation measures.

India Joins US-Led Pax Silica Coalition to Strengthen AI and Semiconductor Supply Chains

India formally joined the United States-led Pax Silica coalition as the 12th country in February 2026.

The coalition aims to build secure, resilient, and innovation-driven supply chains for critical minerals, semiconductors, and Artificial Intelligence infrastructure.

India’s Strategic Role in Pax Silica:

Security:
The coalition focuses on resilient supply chains in:

• Critical minerals
• Rare Earth Elements
• Semiconductors
• AI infrastructure

Sovereignty:
It aims to reduce global dependence on China in rare earth processing and semiconductor manufacturing.

India’s Contribution:

• Large engineering talent base
• Advanced chip design capabilities, including 2-nanometre technology
• 10 semiconductor plants under development
• 8.52 million tonnes of rare earth reserves
• Alignment with the National Critical Mineral Mission and India Semiconductor Mission

Launch of Pax Silica:
Pax Silica was launched on 12 December 2025 in Washington, D.C.

Founding Members:

• United States
• Japan
• Republic of Korea
• Singapore
• United Kingdom
• Israel
• Australia

Later Members:

• Greece
• Qatar
• United Arab Emirates
• Netherlands
• India

2026 Marks 50th Anniversary of Bonded Labour System Abolition Act, 1976

The Government of India marked the Golden Jubilee of the Bonded Labour System (Abolition) Act, 1976 in February 2026.

The Act is a landmark legislation aimed at eliminating bonded labour and debt bondage in India.

About the Act:

Background:
The Act was passed in 1976 during the tenure of former Prime Minister Indira Gandhi.

Date of Enforcement:
9 February 1976

Implementing Ministry:
Ministry of Labour and Employment

Key Provisions:

• Abolished bonded labour system across India
• Cancelled all bonded debts
• Liberated bonded labourers from exploitative obligations
• Prohibited forced labour arising out of debt or social customs

Implementation Framework:

• District Magistrates responsible for enforcement
• Vigilance Committees at district and sub-divisional levels
• Identification, rescue, and rehabilitation of bonded labourers

Banking & Finance

World Bank’s MIGA Provides USD 197.67 Million Guarantee to Citibank for SBI Rooftop Solar Programme

The Multilateral Investment Guarantee Agency, the guarantee arm of the World Bank Group, issued a USD 197.67 million five-year guarantee to Citibank N.A.

The guarantee supports Citibank’s non-shareholder loan to the State Bank of India for refinancing investments in India’s Grid-connected Rooftop Solar Photovoltaic systems.

Background:
SBI launched the rooftop solar programme in 2016 with financing from the International Bank for Reconstruction and Development, part of the World Bank Group.

Refinancing Support:
The facility enables refinancing of the remaining principal of a USD 500 million IBRD loan for grid-connected rooftop solar systems.

Key Impact:
By transferring exposure to Citibank’s balance sheet, the transaction frees lending capacity for additional World Bank financing to the Government of India.

ICICI Prudential Pension Funds Launches India’s First Swasthya Pension Scheme

ICICI Prudential Pension Funds Management Company Limited launched India’s first Swasthya Scheme named “ICICI PF NPS Swasthya Equity Plus”.

The scheme integrates retirement planning and healthcare benefits under the National Pension System.

Regulatory Framework:
The scheme has been structured as a Proof of Concept under the Pension Fund Regulatory and Development Authority regulatory sandbox framework.

Developed In Collaboration With:

• Apollo HealthCo Limited – Healthcare network partner
• KFin Technologies Limited – Digital partner

Key Feature:
Subscribers can make multiple withdrawals up to a maximum of 25% of their own contributions for medical expenses.

Significance:
The scheme blends long-term retirement savings with healthcare support, creating a new category of pension-linked health benefit products in India.

NPCI Extends UPI One World Wallet at India AI Impact Summit 2026

The National Payments Corporation of India extended the UPI One World wallet service for foreign delegates at the India AI Impact Summit 2026 held in New Delhi.

The summit was held from 16 to 20 February 2026, with delegates from more than 40 countries participating.

Key Feature:
The UPI One World wallet allows foreign visitors to make UPI-based payments without requiring:

• Indian mobile number
• Indian bank account

Other Key Launches by NPCI:

FiMI:
NPCI launched the Finance Model for India, an AI-based small language model designed to resolve:

• UPI-related disputes
• Customer service queries
• Regulatory queries
• Ecosystem-related questions

AI-Powered UPI Pilot with Razorpay:
NPCI collaborated with Razorpay to launch an AI-powered UPI pilot.

Use Cases:
Users can order food, groceries, and daily essentials from platforms such as:

• Zomato
• Swiggy
• Zepto

NPCI-Nvidia Partnership:
NPCI also entered into a strategic partnership with Nvidia to advance sovereign AI model capabilities for India’s payments ecosystem.

Economy & Business

Ministry of Commerce Revises Base Year of Merchandise Trade Indices to 2022–23

The Directorate General of Commercial Intelligence and Statistics, under the Ministry of Commerce and Industry, revised the base year of India’s merchandise trade indices from 2012–13 to 2022–23.

The revision aims to better measure changes in the unit values or prices of India’s exports and imports over time.

Objective:
The revised base year will improve:

• Relevance
• Reliability
• Analytical usefulness
• Policy-making support
• Research quality

Recommended By:
The revision was made based on recommendations of a DGCI&S-constituted committee headed by Professor Nachiketa Chattopadhyay of the Indian Statistical Institute, Kolkata.

Key Indices in Updated Series:

• Monthly, quarterly, and annual indices
• Principal Commodity classification-wise trade indices
• Standard International Trade Classification-wise trade indices
• Broad Economic Category-wise trade indices
• Bilateral and region-wise trade indices of top 20 export and import partner countries
• Terms of trade indices

Terms of Trade Covered:

• Gross terms of trade
• Net terms of trade
• Income terms of trade

Key Application:
The National Accounts Division of the Ministry of Statistics and Programme Implementation uses export and import unit value indices as deflators for projecting real exports and imports in GDP compilation.

Appointments & Resignations

Rajan Bajaj Appointed MD & CEO of Slice Small Finance Bank

Slice Small Finance Bank appointed its founder Rajan Bajaj as the Managing Director and Chief Executive Officer, effective 17 February 2026.

He succeeds Satish Kumar Kalra.

Key Highlight:
The appointment comes as Slice transitions from a fintech startup to a fully licensed Small Finance Bank.

About Rajan Bajaj:

Profile:
Rajan Bajaj has experience in financial services, digital lending, consumer finance, and technology-led financial models.

Previous Role:
Before becoming MD & CEO, he served as the Executive Director of Slice.

Earlier Experience:
He previously worked on the product team at Flipkart.

Science & Technology

Indian Army’s Konark Corps Tests Strela-10 Air Defence Missiles in Pokhran

The Indian Army’s Konark Corps, specifically the Air Defence Warriors of the Blazing Skies Brigade, successfully conducted a high-intensity test firing of the Strela-10 Very Short Range Air Defence System.

The test was conducted at the Pokhran Field Firing Range in Rajasthan.

Key Highlights of the Test:

Accuracy & Operational Readiness:
The missile system accurately engaged aerial targets, demonstrating precision targeting and operational readiness.

Crew Coordination:
The exercise helped sharpen crew coordination and validate firing standards.

Air Defence Preparedness:
The test demonstrated effective coordination between:

• Target surveillance systems
• Target acquisition systems
• Missile deployment units

About Strela-10 System:
The Strela-10 is a very short-range air defence missile system designed to counter low-altitude aerial threats.

Targets It Can Counter:

• Helicopters
• Low-flying aircraft
• Unmanned aerial vehicles

Engagement Range:
Approximately 6–10 kilometres

Significance:
The successful live-fire test validated the Indian Army’s battlefield air defence capabilities in challenging terrain.

Obituary

Renowned Bengali Novelist Mani Shankar Mukhopadhyay Passes Away

Renowned Bengali novelist and writer Mani Shankar Mukhopadhyay, popularly known as Shankar, passed away on 20 February 2026 at the age of 93 in Kolkata, West Bengal.

He was born on 7 December 1933 in Jessore, now in Bangladesh.

Award:
In 2021, he was honoured with the Sahitya Akademi Award for his autobiographical work ‘Eka Eka Ekashi’.

About Mani Shankar Mukhopadhyay:

Profile:
His writings covered novels, short stories, biographies, and philosophical works.

Writing Style:
His work was known for:

• Sharp observation
• Rich characterisation
• Empathy for ordinary people
• Realistic social settings

Major Literary Works:

• Kato Ajanare
• Chowringhee
• Samrat O Sundari
• Charan Chhuey Jai

Debut Work:
His debut work Kato Ajanare was semi-autobiographical and drew from his experience of working as a clerk.

Important Days

International Mother Language Day 2026 – February 21

The United Nations International Mother Language Day is observed every year on 21 February to promote linguistic diversity, preserve cultural heritage, and encourage multilingual education.

The day highlights the importance of mother tongues in:

• Cultural identity
• Inclusion
• Peace
• Sustainable development
• Multilingual education

2026 Observance:
21 February 2026 marked the 27th observance of International Mother Language Day.

Theme 2026:
“Youth voices on multilingual education”

Background:

Proclamation:
UNESCO declared 21 February as International Mother Language Day on 17 November 1999.

First Observance:
21 February 2000

UN Recognition:
The United Nations General Assembly formally recognised the observance through Resolution 56/262 in 2002.

World Pangolin Day 2026 – February 21

World Pangolin Day is observed every year on the third Saturday of February to raise awareness about pangolins and their conservation.

In 2026, World Pangolin Day was observed on 21 February 2026, marking the 15th World Pangolin Day.

About Pangolins:
Pangolins are scaly anteaters and are among the most trafficked mammals in the world.

Background:
The first World Pangolin Day was celebrated in February 2012.

2025 Report Highlight:
The 2025 report titled “Conservation Status, Trade and Enforcement Efforts for Pangolins” revealed that more than 5.3 lakh pangolins were involved in illegal trade seizures from 2016 to 2024.

Key Data:

• Pangolins involved: 530,978
• Illegal trade seizures: 2,222
• Period: 2016–2024

Important Days at a Glance

State News

Waaree Energies to Establish India’s Largest Battery Gigafactory in Andhra Pradesh

Waaree Energies announced plans to set up India’s largest integrated lithium-ion battery gigafactory at Rambilli in Anakapalli district, Andhra Pradesh.

The project is expected to give a major boost to India’s energy storage and clean-energy manufacturing ecosystem.

Project Investment:
Approximately ₹8,175 crore, or around USD 890 million

Production Capacity:
Around 16 gigawatt-hours

Approval:
The project has received in-principle approval from the Andhra Pradesh State Investment Promotion Board, chaired by Chief Minister N. Chandrababu Naidu.

Facility Type:
The project will be a greenfield facility.

Manufacturing Chain Covered:

• Lithium-ion cell production
• Battery packs
• Large-scale Battery Energy Storage Systems

Significance:
The gigafactory will strengthen India’s domestic battery manufacturing capacity and support renewable energy storage infrastructure.

Bihar Cabinet Approves Greenfield International Airport in Sonpur

The Bihar Cabinet, chaired by Chief Minister Nitish Kumar, approved the construction of a Greenfield International Airport in Sonpur, Saran district.

The airport will become the 24th Greenfield airport in India.

Project Context:
The proposed airport is part of 35 key proposals approved by the Bihar Cabinet, including major infrastructure and flood-control projects.

Estimated Cost:
The state government sanctioned ₹1,302 crore for land acquisition.

Expected Completion:
By 2030

Location:
The airport will be developed over about 4,200 acres in the Dariyapur Chanwar area, located between Hajipur and Dumaria.

Key Significance:
Once completed, Sonpur airport is expected to become India’s 5th largest airport.

Larger Airports Mentioned:

• Delhi International Airport
• Hyderabad International Airport
• Navi Mumbai International Airport
• Noida / Jewar International Airport

Impact:
The airport is expected to significantly improve regional connectivity and boost economic development in Bihar.