Daily filter — 28 May 2026
8 exam-worthy stories from the day's PIB releases · interactive view
⚖️ Law & Judiciary · LAW track
Insolvency and Bankruptcy Code (IBC) completes 10 years
The **Insolvency and Bankruptcy Code (IBC)**, enacted in 2016, marks its 10th anniversary, transforming India's insolvency framework.
- The IBC came into force in 2016 and completed 10 years as of May 28, 2026.
- As of March 2026, 1,419 cases yielded resolution plans, facilitating over ₹4 lakh crore for creditors.
- Recovery rates increased from 15–20% pre-IBC to around 30% post-IBC.
- Resolution timelines reduced from 6–8 years to about 2 years under the Code.
- The Code led to the resolution of over 30,000 cases at pre-admission stage, involving nearly ₹14 lakh crore.
- S&P Global Ratings upgraded India’s insolvency framework from 'Group C' to 'Group B'.
💡 For the exam: Remember IBC's 10-year impact: improved recoveries, reduced timelines, and significant pre-admission settlements since 2016.
Source: Ministry of Corporate Affairs · PIB PRID 2266350
⚖️ Law & Judiciary · LAW track
Insolvency & Bankruptcy Code Reforms and Impact
India's insolvency framework, strengthened by the IBC and its 2026 amendment, streamlines resolution processes and significantly improves recovery outcomes.
- The Insolvency & Bankruptcy Code, 2016 unified various laws for insolvency resolution.
- The Insolvency & Bankruptcy Code (Amendment) Act, 2026 aims to reduce delays and strengthen creditor oversight.
- Till March 2026, creditors realised approximately ₹4.32 lakh crore through approved resolution plans.
- The Corporate Insolvency Resolution Process (CIRP) is designed to complete within 180 days, extendable to 330 days.
💡 Remember: IBC 2016 unified, 2026 Amendment refined, generating ₹4.32 lakh crore in recoveries by March 2026, with CIRP aiming for 180/330 days.
Source: PIB Backgrounder · PIB PRID 2266139
⚖️ Law & Judiciary · LAW track
Southern States Review Legal Metrology Reforms for Compliance, Consumer Protection
A regional meeting on May 27, 2026, reviewed reforms under the Jan Vishwas Act, 2026, to simplify compliance and safeguard consumers.
- The Department of Consumer Affairs held a regional review meeting on May 27, 2026.
- Reforms under the Jan Vishwas (Amendment of Provisions) Act, 2026, were discussed.
- Focus areas included a new registration-based framework and decriminalisation of minor offences.
- An 'Improvement Notice' mechanism encourages voluntary compliance for first-time violations.
- Expansion of Government Approved Test Centres (GATCs) was urged for states.
- GATCs can only operate within the State or UT for which approval is granted.
- Training for officers will be through the Indian Institute of Legal Metrology (IILM), Ranchi.
💡 For the exam: The Jan Vishwas Act, 2026, amended Legal Metrology Act, 2009, introducing a registration system, 'Improvement Notices,' and expanded GATCs (state-bound) to boost ease of doing business and consumer protection.
Source: Ministry of Consumer Affairs, Food & Public Distribution · PIB PRID 2266230
🤝 International Relations · UPSC track
India-Korea CEPA Upgrade Negotiations Focus on Digital Trade
The 12th round of India-Korea CEPA upgrade negotiations in New Delhi reviewed progress and aimed for a balanced trade partnership.
- The 12th round of IK CEPA upgrade negotiations was held from May 25–27, 2026.
- Negotiations were co-chaired by Ms. Kapil Chaudhary (India) and Mr. Park Geun-oh (Korea).
- Sub-groups will discuss cooperation in digital trade, supply chains, and strategic industrial cooperation.
- Discussions covered Trade in Goods, Services, Rules of Origin, Investment, and SPS standards.
- Both sides acknowledged India’s bilateral trade deficit since IK CEPA came into force in 2010.
💡 For the exam: Remember the 12th India-Korea CEPA round in 2026 focused on upgrades, including digital trade and addressing the trade deficit.
Source: Ministry of Commerce & Industry · PIB PRID 2266170
🤝 International Relations · UPSC track
India and Singapore Boost Defence Ties at 16th Dialogue
India and Singapore held their 16th Defence Policy Dialogue, exploring enhanced cooperation in defence industry and emerging technologies.
- The 16th India-Singapore Defence Policy Dialogue was co-chaired on May 28, 2026.
- Discussions covered defence industry, capacity building, and regional security.
- Cooperation in cyber security, AI, and unmanned systems was explored.
- Both reaffirmed commitment to an open and rule-based Indo-Pacific.
💡 Remember: The 16th Defence Policy Dialogue on May 28, 2026, strengthened India-Singapore strategic ties in defence, tech, and Indo-Pacific security.
Source: Ministry of Defence · PIB PRID 2266391
💊 Defence & Security · LAW track
DRI seizes 7,500 bottles of codeine cough syrup in Patna
The Directorate of Revenue Intelligence intercepted a consignment of illegal codeine-based cough syrup in Patna, arresting two individuals.
- DRI seized 7,500 bottles of Codeine Phosphate & Triprolidine Hydrochloride Syrup.
- The interception occurred on 26.05.2026 at Rajendranagar Terminal Railway Station, Patna.
- Two persons were arrested under the NDPS Act, 1985.
- The consignee's drug license was cancelled and firm non-existent.
💡 Remember DRI for drug seizures, Patna, and NDPS Act, 1985 for codeine syrup.
Source: Ministry of Finance · PIB PRID 2266413
📱 Polity & Governance · UPSC track
DARPG Launches NeSDA 2025 Portal for Digital Governance Assessment
The **DARPG** launched the **NeSDA 2025 Portal** to assess online service delivery effectiveness across States, UTs, and Central Ministries.
- The NeSDA 2025 Portal was launched on 25.05.2026 by the DARPG.
- It is a biennial framework assessing e-governance service delivery from a citizen's perspective.
- The NeSDA 2025 framework expands to include services of the Ministry of Corporate Affairs.
- It will assess 59 mandatory services for States/UTs and 43 for Central Ministries.
- Assessment parameters include Accessibility, Ease of Use, and Information Security.
💡 NeSDA 2025 is a DARPG biennial framework expanding focus to Ministry of Corporate Affairs, assessing 59 state services and 43 central services for digital governance.
Source: Ministry of Personnel, Public Grievances & Pensions · PIB PRID 2266244
🏡 Schemes & Welfare · UPSC track
₹10,021 Crore Sanction Released for Pradhan Mantri Awaas Yojana-Gramin
Union Minister **Shivraj Singh Chouhan** released a significant financial sanction for rural housing under PMAY-G to **12 States**.
- Mother Sanction of ₹10,021.42 crore released on 28 May 2026 for PMAY-G.
- Funds aim to achieve 'Housing for All' vision by March 2029.
- Launched in 2016, PMAY-G targets 4.95 crore houses.
- Over 3.05 crore houses have been completed under the scheme.
- Nearly 75% of sanctioned houses are women-owned or jointly owned.
- States urged to provide land for landless poor families.
💡 PMAY-G's ₹10,021 crore sanction to 12 States by 2026 advances 3.05 crore completed homes for rural 'Housing for All'.
Source: Ministry of Rural Development · PIB PRID 2266262