PIB Summary – 26 May 2026

May 26, 2026 3 Min Read

National Affairs

BHAVYA Scheme Guidelines Released (DPIIT)

DPIIT (Ministry of Commerce & Industry) released operational guidelines for the BHAVYA (Bharat Audyogik Vikas Yojna) Scheme.
Central Sector Scheme (100% Centre-funded) with outlay of ₹33,660 crore (including ₹60 Cr admin fund).
Aims to develop 100 investment-ready industrial parks, aligned with Make in India & PM Gati Shakti.

NIBE Defence Complex Inaugurated in Shirdi

Rajnath Singh inaugurated NIBE Group’s private defence manufacturing complex in Shirdi, Maharashtra (₹5,000+ cr investment, ~4,000 jobs).
Flagged off India’s first 300-km Universal Rocket Launching System “Suryastra”, tested at ITR Chandipur, Odisha.
Approved 4 defence corridors in Maharashtra: Pune, Nashik, Ahilyanagar (Ahmednagar), and Nagpur.

Two New Space-Tech Facilities Approved (DoS)

Department of Space approved Common Technical Facilities (CTFs) in Gujarat and Tamil Nadu.
Gujarat: Space Manufacturing Park at Khoraj (near Ahmedabad) — spacecraft and payload systems.
TN: Space Vehicles Cluster at Thoothukudi — manufacturing/testing of launch vehicles, near upcoming SLV complex at Kulasekharapatnam.
IN-SPACe (ISRO’s commercial arm) will handle procurement and installation.

Ladakh–ONGC Geothermal Project

Ladakh LG Vinod Saxena approved a 5-year MoU extension with ONGC for India’s first geothermal power project.
A 1 MWe pilot plant to be set up at Puga Valley (eastern Ladakh) at over 14,000 ft.
ONGC had earlier drilled Ladakh’s deepest geothermal well (405 m) in 2025.

DoP–Flipkart Agreement

Department of Posts signed an agreement with Flipkart India to boost e-commerce logistics, especially last-mile delivery in rural/remote areas.
Covers prepaid & COD parcels, OTP-based delivery, real-time tracking.

Indian Army’s ‘Q-FORCE’ App Launched

Integrated digital application for logistics and sustainment management across operational terrains.
Enables real-time monitoring, supply-chain efficiency, faster resource allocation.

Rajnath Singh’s Vietnam–South Korea Visit (May 18–21, 2026)

Vietnam: Bilateral talks with Dy-PM/Defence Minister Phan Van Giang; inaugurated Language Lab and AI Lab; MoU signed between MCTE (Mhow) and Vietnam’s Telecom University on AI & quantum tech.
South Korea: Talks with Ahn Gyu-back and Lee Yong-Cheol; MoU on defence cyber security and information sharing; agreements between L&T (India) and Hanwha (ROK).

India–Ethiopia WTO Accession Protocol

India and Ethiopia signed a bilateral accession protocol in Geneva for Ethiopia’s WTO membership.
Signed by Senthil Pandian C (India) and Tsegab Kebebew Daka (Ethiopia); fast-tracked under Union Minister Piyush Goyal.

RBI Penalties

City Union Bank (CUB): ₹10.10 lakh — for charging fees on priority sector agri loans up to ₹25,000 and SHG data reporting lapses.
Mintifi Finserve (NBFC): ₹3.10 lakh — delay in uploading KYC records to CKYCR.
Newa Investments (NBFC): ₹2.70 lakh — appointed directors without prior RBI approval.

AIIB’s USD 10 Billion EFSERF

Asian Infrastructure Investment Bank launched the Energy, Food Security and Economic Resilience Facility (EFSERF) — USD 10 billion over 2 years.
Aimed at member countries affected by the Middle East conflict — energy, food security, economic resilience.
AIIB headquartered in Beijing; established 2015, operational from Jan 2016.

Cannes 2026 (79th edition, May 12–23): Palme d’Or → Cristian Mungiu (“Fjord”, Romania); Grand Prix → Andrey Zvyagintsev (“Minotaur”, Russia). Mungiu becomes a two-time Palme d’Or winner.
ICICI Bank: RBI approved Sandeep Bakhshi’s reappointment as MD & CEO till October 3, 2028.

Vijay Shankar (TN all-rounder) retired from domestic cricket and IPL after 25 years; played 12 ODIs and 9 T20Is for India (2018–2019).

Date	Day	Theme/Note
May 23	Int’l Day to End Obstetric Fistula	“Her Health Is a Right: Invest to End Fistula and Childbirth Injuries”
May 23	World Turtle Day	26th observance; launched 2000 by ATR (USA)
May 24	Int’l Day of the Markhor	3rd observance; proposed by Pakistan, adopted by UNGA in 2024

Delhi Govt–SBI MoU

Delhi e-Governance Society (under Dept of IT) signed an MoU with SBI to implement ‘e-Pay’ digital payment solution on the state’s e-procurement portal.
Integrates Earnest Money Deposit (EMD) for real-time verification, removing physical demand drafts.