India Set to Test Plastic Currency Notes as RBI Revives Polymer Note Project

The Reserve Bank of India (RBI) revives about plans to introduce the polymer or plastic based banknotes. This proposal was discussed in RBI board meetings and it aims to increase the lifespan of the currency notes, lower printing and replacement costs and improve cash management efficiency.

RBI Revives Polymer Currency Note Proposal

The Reserve Bank of India is actively considering for the introduction of polymer-based currency notes through a pilot project expected to be announced in the near future.

According to sources, this issue was reviewed during the RBI’s recent board meetings held in Patna and Mumbai. The central bank believes that the polymer notes offer significant advantages over a traditional paper-based currency.

The proposal marks the revival of an idea which was first considered more than a decade ago but later put on hold due to technological limitations.

Why Does RBI Want Plastic Currency Notes?

The main idea is to reduce the costs and improve the durability of banknotes.

As the traditional paper currency notes wear out quickly due to frequent handling and specially lower denomination notes which change hands more often and the Polymer notes are known to last longer.

Key Benefits of Polymer Notes

Longer lifespan as compared to paper notes
It will reduced the printing and replacement costs
Had a better resistance to wear and tear
Improved durability in the different weather conditions
Enhanced with the security features against counterfeiting
Easier maintenance of the currency quality

Currency Demand Rise Despite Digital Payments

One of the major reasons behind this interest in polymer notes is the continued rise of the cash circulation across the India.

Although digital payment systems such as the UPI have grown rapidly, the demand for physical currency remains strong.

Currency in Circulation Reaches Record High

Currency in circulation (CiC) stood at the ₹42.86 trillion as of May 15.
Cash circulation increased by the 11.5% year-on-year.
During the first one and a half months of FY27, currency circulation rose by around the ₹1.15 trillion.

Cost of Printing Currency Continues to Rise

The RBI’s annual report also highlights that the growing financial burden of printing currency notes.

Financial Year Printing Cost

FY24 ₹5,101.4 crore
FY25 ₹6,372.8 crore

The increase was mainly attributed to the higher demand for banknote printing.

Disposal of Soiled Notes Remains a Challenge

Another major concern for the central bank is the increasing number of the damaged and soiled notes which need to be withdrawn from circulation.

During FY25,

23.8 billion soiled banknotes were disposed of.
This represented the 12.3% increase from the previous year.
This is the highest number of discarded notes belonged to the ₹500 denomination.
₹100 notes were the second most frequently removed from circulation.

Lower Denomination Notes Face Higher Wear and Tear

The RBI has also observed sustained demand for the smaller denomination notes such as ₹10 and ₹20.

These notes frequently change the hands and therefore deteriorate faster.

Despite their widespread usages the,

₹10 notes account for only 0.7% of the total currency value in circulation.
₹20 notes account for just 0.8%.

Polymer material could help to extend the life of these heavily used denominations.

India’s Earlier Polymer Note Experiment

The idea of introducing plastic currency notes is not nothing new.

In the year 2012, the government had approved a pilot project involving one billion ₹10 polymer banknotes to be circulated in selected cities.

The primary objective was to increase the lifespan of the currency notes rather than tackle counterfeiting.

India-Canada CEPA Talks Gain Momentum, Deal Expected by End of 2026

India and Canada have strengthened the economic partnership by their commitment to conclude negotiations for a Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026. This announcement was made during the 2026 Canada-India Trade and Investment Forum.

India and Canada Reaffirm Commitment to CEPA

The major outcome of the Canada-India Trade and Investment Forum was the decision to accelerate the negotiations for the Comprehensive Economic Partnership Agreement (CEPA).

Respectable Union Commerce and Industry Minister Piyush Goyal and Canadian Trade Minister Maninder Sidhu reaffirmed their commitment to conclude the agreement by the end of year 2026.

Both the leaders had described the proposed trade pact as ambitious and mutually beneficial, capable of creating the new opportunities for businesses and investors in both countries.

Canada-India Trade and Investment Forum Launched

To support the long-term economic engagement, both the countries have officially launched the Canada-India Trade and Investment Forum.

The platform will serve as the bridge between businesses, investors and industry leaders from both nations.

Its objectives includes the,

Encouraging the business-to-business partnerships.
Facilitating investment opportunities.
Support the innovation and entrepreneurship.
Promote the commercial collaboration.
Enhance the trade linkages.

Why the India-Canada Free Trade Agreement Matters

A completed CEPA could significantly reshape the economic relations between India and Canada.

The agreement is expected to improve the market access, reduce trade barriers and encourages the investment flows between both countries.

Key sectors likely to benefit includes the,

Energy
Agri-food
Technology
Education
Pharmaceuticals
Manufacturing
Services trade

For both the economies, this agreement offers strategic diversification opportunities amid a changing global trade dynamics.

Current Trade Between India and Canada

India and Canada already shares the important commercial ties.

India’s Major Exports to Canada

India exports the wide range of products which includes the,

Pharmaceuticals
Iron and steel
Seafood
Cotton garments
Chemicals
Electronic goods

Canada’s Major Exports to India

India imports the several critical products from Canada, such as the,

Pulses
Coal
Fertilisers
Petroleum crude
Pearls and semi-precious stones
Paper products

This trade relationship already spans the multiple sectors with room for expansion.

RBI Projects 6.9% GDP Growth for India in FY27 Despite Global Uncertainties

India’s economy expected to maintain the momentum for the year FY27 despite the tensions in the West Asia and global uncertainty. As Reserve Bank of India (RBI) projected real GDP growth at 6.9 percent for the year 2026-27 and highlights the India’s strong macro economic framework.

RBI Projects 6.9% GDP Growth for FY27

The Reserve Bank of India has forecast the real GDP growth of 6.9 percent for the financial year 2026-27.

As the concerns surrounding global economic conditions, the RBI believes that the India’s economy remains well positioned to sustain growth due to strong domestic demand and stable macroeconomic indicators.

The central bank also noted that India continues to benefit from the combination of consumption-driven growth, public investment and a resilient financial system

Key Growth Forecasts

FY27 GDP Growth Projection: 6.9%
FY26 GDP Growth Estimate: 7.6%
FY25 GDP Growth: 7.1%

The report reaffirmed the India’s strong position as one of the fastest growing major economies in the world.

West Asia Conflict Emerges as a Major Risk

While the overall outlook has been remains positive, the RBI has identified that the ongoing conflict in West Asia as one of the biggest risks to global and domestic economic growth.

According to the report, the geopolitical tensions have once again become the significant concern for policymakers worldwide.

A prolonged conflict could lead to,

Higher crude oil prices
Increased commodity costs
Supply chain disruptions
Reduced global trade activity
Financial market volatility

These developments create the impact both inflation and economic growth across several countries including India.

Inflation Expected to Rise in FY27

The RBI has also projected the Consumer Price Index (CPI) inflation at 4.6 percent for FY27, as compared to 2.1 percent recorded in FY26.

Although inflation is expected to remain within the RBI’s target range the central bank highlighted the several factors that could push prices higher.

Major Inflation Risks Are,

Rising global crude oil prices
Geopolitical uncertainties
Supply chain disruptions
Higher commodity prices
Exchange rate volatility
Increased production and wage costs

The report has warned that the sustained geopolitical tensions could create fresh inflationary pressures in the coming months.

Strong Domestic Demand Continues to Support Growth

One of the main reasons behind India’s positive growth outlook is the strength of the country’s domestic demand.

The RBI noted that the household consumption, private investment and government spending continue to support economic activity. Also the strong domestic demand helps reduce the dependence on external markets and provides stability during periods of global uncertainty.

The Strong consumer spending and the rising private sector investments will support the growth. Also government infrastructure spending is growing day by day will support the growth for the economy.

Government’s Capital Expenditure Push

The central government’s continued focus on the capital expenditure will lead the growth for the next cycle. The large-scale investments in the infrastructure, transportation, logistics and public services are expected to boost productivity and create employment opportunities.

Also the capital expenditure not only supports immediate economic activity but also strengthens the country’s long-term growth potential.

According to the RBI, the government’s infrastructure led development strategy remains as the important key pillar of economic expansion.

Myanmar President Min Aung Hlaing to Visit India from May 30 to June 3

Honorable President of Myanmar U Min Aung Hlaing is set to visit India from May 30 to June 3, 2026 at the invitation sent by Prime Minister Narendra Modi. This visit is expected to boost the India-Myanmar relations and several discussions across the key areas like trade, connectivity, regional security and cultural cooperation.

Myanmar President to Undertake First Official Visit to India

President Min Aung Hlaing will be accompanied by the high-level delegation which includes Cabinet ministers, senior government officials and business leaders.

This marks his first visit to India as the Myanmar President and mark it an important milestone in bilateral relations.

The visit comes shortly after the postponement of the International Big Cat Alliance (IBCA) Summit in which President Hlaing was originally scheduled to attend in the India.

The official visit is expected to focus on the expanding cooperation across multiple sectors and strengthening political engagement between the both countries.

Bilateral Talks with Prime Minister Narendra Modi

The major highlight of the visit will be the bilateral meeting between President Min Aung Hlaing and Prime Minister Narendra Modi on June 1st in New Delhi.

The leaders are also expected to discuss a wide range of issues, including the,

Strengthening the diplomatic relations.
Also to enhancing trade and investment.
Improve the connectivity projects.
Promoting cultural and people-to-people exchanges.
Expanding cooperation in regional and security matters.

The talks are also expected to build upon the long standing historical and civilizational links shared by the both nations.

Focus on Trade and Economic Cooperation

Economic engagement will be the key component of the visit. President Hlaing is scheduled to participate in the business forum which aimed at to strengthening the commercial relations and encouraging greater investment between the two countries.

The forum is expected to bring together,

Business leaders.
Industry representatives.
Trade organizations.
Government officials.

Both nations are seeking to increase the bilateral trade and explore new opportunities in sectors like infrastructure, manufacturing, energy, agriculture and digital connectivity.

Visits to Bodh Gaya and Mumbai

Apart from his official meetings in New Delhi, President Hlaing also set to visit to two important Indian cities.

The Myanmar President will visit to the Bodh Gaya on 30Th May, which is one of Buddhism’s holiest sites and a major destination for Buddhist pilgrims from Myanmar.

On June 2nd in Mumbai, President Hlaing will engage with the business and industry leaders and undertake site visits related to economic cooperation and investment opportunities.

Why Myanmar is Strategically Important for India

Myanmar occupies the unique position in the India’s foreign policy and regional strategy. It serves as the India’s gateway to Southeast Asia and plays a vital role in several strategic initiatives.

The Ministry of External Affairs (MEA) has also been described Myanmar at the intersection of three major Indian policy frameworks, which are,

Neighborhood First Policy
Act East Policy
MAHASAGAR Initiative

Myanmar’s geographic location makes it an essential partner to achieving the objectives of all three policies.

Indian-Origin Student Shrey Parikh Takes Home Scripps National Spelling Bee 2026 Title

A 14 year old Shrey Parikh from the California emerged as the Champion at the Scripps National Spelling Bee 2026.He won the tournament against the highly competitive participants and highlighted the strong presence of Indian-origin students in the United States.

Shrey Parikh Clinches the Scripps National Spelling Bee Title

Shrey Parikh secured victory in the 2026 Scripps National Spelling Bee by correctly spelling total 32 words in just 90 seconds during the decisive spell-off round.

The competition came down to the close fought contest between Shrey and Ishaan Gupta from New Jersey. While Shrey has successfully spelled 32 words and Ishaan managed with just 25 words, and giving Shrey a comfortable lead and the championship title.

Earlier in the year 2024 he also make it to the finals of the competition.

Prestigious Competition with Global Participation

The Scripps National Spelling Bee competition is widely regarded as one of the most prestigious academic competitions in the United States and students all around the world can participate.

The 2026 edition featured the total 247 contestants representing,

All 50 U.S. states
District of Columbia
Guam
Puerto Rico
U.S. Virgin Islands
Department of Defense schools in Europe

This competition also included participants from several countries,

Bahamas
Canada
Ghana
Nigeria
United Arab Emirates

The Dramatic Spell-Off Decides the Champion

The championship was determined through the special 90-second spell-off round, where contestants were required to correctly spell as many words as possible from the same list.

This format tests not just only spelling accuracy but also speed, concentration and composure under pressure.

Shrey’s ability to maintain the consistency throughout the spell-off proved decisive. His superior performance also helped him secure the title ahead of Ishaan Gupta, while 12-year-old Sarv Dharavane from Georgia finished in the third place.

Rewards and Recognition for the Champion

As the 2026 champion, Shrey Parikh received the,

$50,000 cash prize
The prestigious Scripps Cup
Commemorative medal
$2,500 from Merriam-Webster
$1,000 in Delta Air Lines flight credits
$400 worth of Encyclopaedia Britannica reference materials

Apart from these prizes, the title also brings the national recognition and places Shrey among the elite group of Spelling Bee champions.

About the Scripps National Spelling Bee

Founded: 1925
Organiser: Scripps National Spelling Bee
Country: United States
Purpose: Promote literacy, vocabulary and academic excellence
Participants: School students from the U.S. and several other countries
Final Venue 2026: Washington, D.C.

Who Was Dhanendra Kumar? Former Competition Commission Chief Dies in Fire Accident

First chairman of the Competition Commission of India (CCI) Dharmendra Kumar passed away after fire broke out at his residence. He was o 80 year old retired IAS officer and with this it marks the loss of the distinguished administrator who played the important role in the country’ competition regulatory framework.

Fire Breaks Out at Dhanendra Kumar’s Residence

The incident happened late night when a fire reportedly erupted inside the Kumar’s residence in Hauz Khas.

According to initial reports, the blaze may have been triggered by the explosion in the indoor unit of an air conditioner installed in his son’s room.

Soon after receiving the PCR call, police personnel and fire department teams reached to the spot. Firefighters have deployed multiple fire tenders to bring the situation under control and to prevent the flames from spreading further.

Who Was Dhanendra Kumar?

Dhanendra Kumar was one of the India’s most distinguished civil servants and the economic policymakers.

He belonged to the 1968 batch of the Indian Administrative Service (IAS) and served in to the Haryana cadre throughout his administrative career.

Over the period of time, he held the several important positions in both the Haryana government and the Central Government and earned the recognition for his administrative expertise and leadership.

His contributions has been extended across governance, public administration, infrastructure development and economic regulation.

Key Positions Held by Dhanendra Kumar

In his long career Dhanendra Kumar had occupied several high-profile positions.

Major Roles and Responsibilities

IAS Officer (1968 Batch, Haryana Cadre)
Principal Secretary to the Chief Minister of Haryana
Senior positions in the Ministry of Defence
Senior positions in the Ministry of Road Transport and Highways
Senior positions in the Ministry of Culture
Executive Director at the World Bank
First Chairman of the Competition Commission of India (CCI)

Role in Establishing the Competition Commission of India

One of his most significant contributions was his role as the first Chairman of the Competition Commission of India (CCI).

He assumed the chairman position in 2009 and crucial period when India was strengthening its competition law framework to promote fair business practices and prevent anti-competitive activities.

Under his leadership, the CCI also laid the foundation for regulating market competition and ensuring the level playing field for businesses in India.

About the Competition Commission of India (CCI)

The Competition Commission of India is the body responsible for the enforcing the Competition Act, 2002.

Main Functions of CCI

Prevent the anti-competitive agreements
Regulate the mergers and acquisitions
Prevent abuse of dominant market positions
Promote fair competition in markets
Protect consumer interests

Blue Origin’s New Glenn Rocket Explodes During Ground Test Ahead of Satellite Launch

Aerospace company founded by Jeff Bezos, Blue Origin has suffered the huge setback after its powerful New Glenn rocket exploded during an engine firing test at Cape Canaveral Space Force Station in Florida. This incident occurred just two days before the rocket was scheduled to launch Amazon’s internet satellites into orbit.

New Glenn Rocket Explodes During Routine Ground Test

The explosion took place on 28th May, 2026 night while Blue Origin engineers were conducting the pre-launch engine test at Launch Complex 36 in Cape Canaveral.

Witnesses have heard the loud blast and seeing a massive orange fireball illuminate the night sky. Residents in the nearby Cape Canaveral and Cocoa Beach also felt vibrations from the explosion and share the many to share photos and videos on social media.

Despite this incident, officials has confirmed that no personnel were injured and that emergency response teams quickly secured the area.

Another Setback for the New Glenn Program

The latest incident adds to the challenges already faced by the Blue Origin’s heavy lift rocket program.

In early 2026, New Glenn rocket has also experienced an engine-related problem during its third flight. Although this rocket has been successfully launched and satellite failed to reach its intended orbit due to propulsion issues.

That mission failure led to the additional reviews and testing, making the recent explosion another hurdle in the development of the rocket. As it is one of the Blue Origin’s most ambitious projects and New Glenn is expected to compete with the other major launch vehicles in the commercial space industry.

Impact on NASA’s Artemis Moon Missions

New Glenn is considered as the key component of Blue Origin’s plans to support NASA’s Artemis program, which aims to return the astronauts to the Moon and establish a long-term lunar presence.

The rocket is expected to launch the lunar landers and cargo missions designed to support future human exploration of the Moon.

NASA officials have acknowledged the incident and stated that the to develop this type of advanced launch systems is the complex process that often involves setbacks.

Though, NASA has not announced any immediate mission delays with this rocket.

Amazon Satellite Launch Faces Uncertainty

Before the explosion, New Glenn was preparing for a mission that would deploy internet satellites for the Amazon’s low-Earth orbit satellite constellation.

The project is part of the Amazon’s effort to build a global satellite internet network capable of competing with SpaceX’s Starlink service.

Industry observers expected that the Blue Origin have to prioritize the failure before they announcing a revised launch schedule.

About New Glenn Rocket

Developer: Blue Origin
Founder: Jeff Bezos
Height: 321 feet (98 meters)
First Flight: 2025
Named After: John Glenn, the first American to orbit Earth
Mission Type: Heavy-lift orbital launch vehicle

India’s Esha Singh Wins Gold with World Record Score at ISSF World Cup Munich

Esha Singh delivered the excellent performance of her career at the SSF World Cup in Munich and created the history by world record breaking gold medal in the women’s 25m pistol event. She did just this at the age of 21 and outperformed the biggest names in the international shooting which includes Paris Olympic champion Yang Jinn and former world champion Doreen Vennekamp.

Esha Singh Creates History with World Record Gold

Esha Singh had dominated the women’s 25m pistol final at the ISSF World Cup in Munich from the very first series.

She displayed the exceptional consistency and composure and she led throughout the competition and finished with the remarkable score of 43 points.

With this performance, Esha had broken the previous world record of 42 points, which was held by the South Korean shooter Kim Yeji since the Baku World Cup in 2024.

Her achievement marks one of the biggest milestones in the Indian shooting in a recent years.

Defeating Olympic Champion Yang Jinn

The Munich final featured the highly competitive field that which included some of the biggest names in world shooting.

Paris Olympic champion Yang Jinn of South Korea and former world champion Doreen Vennekamp of Germany were also particpants in the series.

Despite the pressure to competing against the elite shooters, Esha has remained focused on her own performance.

Yang Jinn finished in fifth place while Vennekamp have secured the silver medal with 38 points.

Esha’s five-point winning margin demonstrated her complete control of the final game and underlined the quality of her performance on the global stage.

A Near-Perfect Final Performance

Esha’s world-record score was built on to the outstanding start.

She registered the perfect scores in her first three series and maintained her momentum throughout the competition.

Although she missed the few shots in the later roundsbut she quickly regained her rhythm and produced a flawless eighth series.

Three successful hits in the final series also helped her surpass the previous world record and finish with 43 points.

Her ability to recover from the past mistakes and perform under pressure proved decisive in to securing both the gold medal and the world record.

Key Highlights of the Final

Gold Medal: Esha Singh (India)
World Record Score: 43
Previous Record: 42 (By Kim Yeji, 2024)
Silver Medal: Doreen Vennekamp (Germany)
Olympic Champion Yang Jinn: Finished fifth
Venue: Munich, Germany

India’s Fertility Rate Drops Below Replacement Level for the First Time

Total Fertility Rate (TFR) of the country has fallen below the replacement level for the first time. According to the Sample Registration System (SRS) Statistical Report 2024 which was released by the Office of the Registrar General and Census Commissioner as India’s fertility rate declined to the 1.9 children per woman and showcasing the long-term trend of declining births.

India’s Total Fertility Rate Falls Below Replacement Level

The replacement fertility level is generally considered to be the 2.1 children per woman and the level required for a population to replace itself from one generation to the next without migration.

India’s TFR has witnessed a dramatic decline from,

1985: 4.6
2024: 1.9

This milestone signifies that India is transitioning towards the more stable population structure.

However, the national average had the substantial regional differences.

State-wise TFR Highlights

Bihar: 2.9 (Highest in India)
Delhi: 1.2 (Lowest in India)
National Average: 1.9

Delhi has recorded the sharpest decline in the fertility over the last decade, while the state of Bihar experienced the slowest decline.

A Growing Demographic Divide Between North and South India

The report also highlights the widening demographic gap between India’s southern and northern states.

Southern states such as Kerala and Tamil Nadu have already reached to the advanced stages of demographic transition, characterized by the,

Low fertility rates
Ageing populations
Higher life expectancy

In contrast, states like the Bihar and Uttar Pradesh continue to have younger populations and relatively higher fertility levels.

Ageing Population Trends

Kerala: Total 15.1% population aged 60 and above
Tamil Nadu: 14.2% population aged 60 and above
Bihar: Nearly the one-third of the population are below 14 years

Decline in General Fertility Rate Across India

The report also measures the fertility through the General Fertility Rate (GFR), which indicates the number of births per 1,000 women aged between 15-49 years.

Between the 2012–14 and 2022–24 cycle, India’s GFR declined from 78.8 to 64.6, a reduction of nearly 18%.

Key GFR Trends

Rural GFR: 86.2 to 71.9
Urban GFR: 61.2 to 51.0
Delhi recorded the steepest decline
Bihar remained the highest at 96.0
Kerala: 42.9
Tamil Nadu: 42.1

Interestingly, urban Bihar was the only major region where the fertility increased slightly during the decade.

Child Mortality Continues to Show Regional Disparities

As the fertility rates have declined, child survival outcomes has been remain uneven across states.

Under-Five Mortality Rate (U5MR)

Madhya Pradesh: 41
Uttar Pradesh: 41
Kerala: 9

The urban-rural divide remains important,

Rural India: 32
Urban India: 19

This findings indicates that access to quality healthcare, nutrition, sanitation and maternal services continues to differ significantly across regions.

Most Infant Deaths Occur Within the First Month

The SRS report also highlights that neonatal health remains a major challenge.

Infant Mortality Findings

52.7% of the infant deaths has occur within the first week of birth.
72.8% occur within the first 28 days.
Neonatal mortality remains as the largest contributor to infant deaths.

These figures underlines the importance of the improving maternal healthcare, institutional deliveries, newborn care and postnatal services.

Institutional Deliveries Continue to Rise

One of the positive trends which highlighted in the report is the continued expansion of institutional childbirth.

Key Findings

71.7% of births occur in to the government hospitals.
Institutional deliveries have increased significantly over the decades.
Maternal and child health services have also improved access to healthcare facilities.

Government health program such as the Janani Suraksha Yojana (JSY) and expanded healthcare infrastructure have played a key role in encouraging institutional births.

Sex Ratio at Birth Remains a Concern

The report also sheds the light on the India’s gender balance at birth.

Sex Ratio at Birth (2022–24)

India: 918 girls per 1,000 boys
Uttarakhand: 872 (Lowest)
Chhattisgarh: 978 (Highest)
Kerala: 974

Although the improvements have been observed in some of the regions, gender disparities at birth continue to pose social and policy challenges.

Healthcare Access Before Death Shows Limited Improvement

The report has revealed that access to the qualified medical care at the time of death remains inadequate.

Key Statistics

45.5% of deaths has been occurred without qualified medical attention.
In which rural areas recorded 48.9%.
Only 40.2% of deaths occurred in to the hospitals.
Government hospitals accounted for the 24.7% of medically attended deaths.
Private hospitals accounted for 15.5%.

Insolvency and Bankruptcy Code Completes 10 Years of Transforming India’s Financial Landscape

India’s Insolvency and Bankruptcy Code (IBC) which was launched in 2016 has completed the decade of implementation. It was introduced to address delays in the insolvency resolution and to improve debt recovery mechanisms. This code has fundamentally transformed the country’s financial scenarios. Over the last ten years IBC has creditor rights, encouraged to responsible borrowing, improved recovery rates and facilitated the revival of distressed businesses.

What is the Insolvency and Bankruptcy Code (IBC)?

The Insolvency and Bankruptcy Code (IBC) was enacted in the year 2016 to create the unified and time bound framework for resolving insolvency and bankruptcy cases including the companies, partnerships, and individuals.

Before the IBC, insolvency cases in India often remained unresolved for the many years and it leading to the significant loss of asset value and poor recovery for lenders.

This Code has introduced the creditor-driven resolution process aimed at maximizing value, ensuring business continuity, and improving financial discipline.

Its primary objectives includes the,

Timely resolution of the stressed assets
Maximization of asset value
Protection of creditor interests
Revival of financially distressed companies
Improvement in the credit culture in the economy

Key Achievements of IBC in Its First Decade

The IBC performance over the last ten years growing with effectiveness in to resolving the financial distress.

As of March 2026, total of 8,987 insolvency cases had been admitted under the Code.

Out of these total 7,102 cases has reached to closure and indicating substantial progress in handling stressed assets.

Some notable achievements includes the,

1,419 cases has been successfully resolved through resolution plans
More than ₹4 lakh crore realized for the creditors
Recovery value has equivalent to 95% of fair value
Recovery value equivalent to 167% of liquidation value
4,099 companies rescued and revived
Over the 30,000 cases settled before formal admission

These figures highlights the Code’s effectiveness in to preserving economic value and ensuring better outcomes for stakeholders.

How IBC Improved Debt Recovery and Reduced NPAs

One of the major contributions of the IBC has been its role in to strengthening India’s banking sector.
Prior to the introduction of IBC, the recovery rates has been remained low and insolvency proceedings often stretched over several years.
This Code has significantly changed this scenario by creating strong incentives for the borrowers to settle dues and avoid insolvency proceedings.
The impact is visible in to the sharp decline in banking sector stress.

Key Improvements

Total Gross NPA ratio declined from 11.8% in 2017 to 2.1% in September 2025.
Average recovery rates also increased from 15-20% before IBC to around the 30% after IBC.
Recovery rate under the IBC has reached at the 36.6% in 2024-25.
Resolution timelines has also reduced from 6-8 years to nearly 2 years
According to the RBI, IBC has emerged as the most effective channel for the recovering stressed assets among all available mechanisms.

Revival of Distressed Companies Through IBC

The major objective of the Code was not just merely liquidation but the revival of economically viable businesses.

This results show considerable success in this regard. Around 58% of closed cases are resulted in rescue or revival outcomes, helping preserve jobs, productive assets and economic value.

Notably, around the 42% of companies resolved under the IBC which are previously been referred to the Board for Industrial and Financial Reconstruction (BIFR) or had become defunct.

Impact on Credit Discipline and Borrower Behavior

The IBC has significantly altered the borrower behavior by creating the credible threat of insolvency proceedings.

The deterrent effect is evident from the large number of the settlements taking place before the formal insolvency admission.

More than 30,000 cases involving nearly ₹14 lakh crore were resolved through the settlements and withdrawals before entering into the insolvency process.

Global Recognition of India’s Insolvency Framework

India’s insolvency ecosystem has also received the international recognition.

S&P Global Ratings has also upgraded the India’s insolvency framework from Group C to Group B and it acknowledged the improvements in resolution efficiency and creditor recovery mechanisms.

This upgrade showcases the increasing confidence in to the India’s legal and financial institutions and strengthens the country’s attractiveness for the domestic and foreign investors.