Prelims Current Affairs includes Clean Slate Doctrine Under Ibc, Favara-Upi Cross-Border Payment Corridor, Broad Peak, India Finishes Fourth At Commonwealth Games 2026 With 39 Medals, Commonwealth Games 2030: Ahmedabad To Host , Tejaswin Shankar Wins India’s First-Ever Commonwealth Decathlon Medal, Haroli Gets Himachal’s 1st Hrtc E-Depot & Dhauladhar Wildlife Sanctuary

ECONOMY

1. CLEAN SLATE DOCTRINE UNDER IBC

Current Context: Supreme Court’s recent judgment in Ujaas Energy highlighted the Clean Slate Doctrine under the Insolvency and Bankruptcy Code (IBC), 2016.

ABOUT CLEAN SLATE DOCTRINE

• The Clean Slate Doctrine means that after approval of a resolution plan under the IBC, the successful resolution applicant gets the company with a “clean slate”.
• Any past claims, dues, or liabilities that are not part of the approved resolution plan cannot be enforced later.
• This provides certainty and encourages investors to take over financially distressed companies.
• Based on Section 31 of the Insolvency and Bankruptcy Code, 2016.

ABOUT INSOLVENCY AND BANKRUPTCY CODE (IBC), 2016

• Enacted:
• Administrative Ministry: Ministry of Corporate Affairs.
• Provides a time-bound mechanism for resolving insolvency of: Companies, LLPs (Limited Liability Partnership), Partnership firms and Individuals (provisions notified in phases).

ECONOMY

2. FAVARA-UPI CROSS-BORDER PAYMENT CORRIDOR

Current Context: The Favara-UPI Cross-Border Payment Corridor has gone live between India and the Maldives, enabling real-time digital money transfers between the two countries by linking Maldives’ Favara payment system with India’s Unified Payments Interface (UPI).

UPI Accepted Countries (9):

• Cambodia, Singapore, UAE, France, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka

ABOUT UPI

• Developed By: National Payments Corporation of India (NPCI).
• Launched: 2016.
• Regulated By: Reserve Bank of India (RBI).
• Enables instant bank-to-bank payments using mobile devices.

GEOGRAPHY

3.  BROAD PEAK

Current Context: A team of 10 mountaineers were caught in an avalanche on the slopes of Broad Peak in the Karakoram range.

ABOUT BROAD PEAK

• Broad Peak is the 12th highest mountain in the world.
• Height: 8,051 metres (26,414 ft).
• It is one of the 14 mountains above 8,000 metres, popularly known as the Eight-thousanders.
• Lies about 8 km southeast of K2, the world’s second-highest mountain.
• Location:Karakoram range, spanning Gilgit-Baltistan and China’s Xinjiang
• The name refers to its broad summit ridge, which extends for nearly 5 kilometres, unlike the sharp pyramidal peaks nearby.
• Local Name:Falchan Kangri (“Broad Mountain” in Balti)
• Name Coined By:Sir Martin Conway (1892) – likened to Breithorn in Swiss Alps

SPORTS 

4. INDIA FINISHES FOURTH AT COMMONWEALTH GAMES 2026 WITH 39 MEDALS

Current Context: India finished 4th in the overall medal standings at the Commonwealth Games 2026 held in Glasgow, Scotland, winning a total of 39 medals.

MAJOR HIGHLIGHTS FOR INDIA

• India won both the men’s and women’s team titles in Table Tennis.
• Asmita Dey and Harsh Singh won India’s first-ever Commonwealth Games gold medals in Judo.
• Gulveer Singh:Only Indian athlete to win two medals
• Boxing:7 Gold, 3 Silver (topped boxing medal tally)

 Top Nations Medal Standings

• Australia: 70 gold, 45 silver, 56 bronze (171 total)
• England: 29 gold, 45 silver, 36 bronze (110 total)
• Canada: 19 gold, 20 silver, 23 bronze (62 total)
• India: 13 gold, 17 silver, 9 bronze (39 total)
• Scotland: 13 gold, 9 silver, 17 bronze (39 total)

SPORTS 

5. COMMONWEALTH GAMES 2030: AHMEDABAD TO HOST

Current Context: Ahmedabad, Gujarat, officially received the Commonwealth Games Flag during the closing ceremony of the Glasgow 2026 Commonwealth Games, marking the formal handover of hosting responsibilities for the 2030 Commonwealth Games.

ABOUT THE HANDOVER

• Edition: 24th Commonwealth Games.
• Next Edition:100th anniversary of Commonwealth Games
• India will host the Commonwealth Games for the second time, after New Delhi (2010).
• The Games are expected to feature athletes from 74 Commonwealth nations and territories.
• A multi-sport international event involving athletes from the Commonwealth of Nations.
• Organised every four years.
• First Held: 1930.
• First Host City: Hamilton, Canada.
• Originally known as the British Empire Games.

SPORTS 

6. TEJASWIN SHANKAR WINS INDIA’S FIRST-EVER COMMONWEALTH DECATHLON MEDAL

Current Context: Tejaswin Shankar won bronze in men’s decathlon at Commonwealth Games 2026.

Decathlon is a combined athletics event consisting of 10 track and field disciplines.

ABOUT THE ACHIEVEMENT

• First Indianto win Commonwealth Games decathlon medal
• Score:7,976 points
• His 2nd Commonwealth medal(previously bronze in high jump, Birmingham 2022)

Other Achievements:

• National record in decathlon: 8,057 points
• Silver medal – 2023 Asian Games (Hangzhou)

HIMACHAL NEWS

7. HAROLI GETS HIMACHAL’S 1ST HRTC E-DEPOT

Current Context: Deputy Chief Minister Mukesh Agnihotri inaugurated Himachal Pradesh’s first Himachal Road Transport Corporation (HRTC) e-Depot at Haroli in Una district, marking a major step towards green public transportation and the adoption of electric buses in the state.

ABOUT THE E-DEPOT

• An e-Depot is a dedicated facility for operating and maintaining electric buses (e-buses).
• It provides charging, parking, maintenance, and operational support for electric public transport vehicles.

Future E-depots:

• Kangra, Theog, Nahan, Nadaun

HIMACHAL NEWS

8. DHAULADHAR WILDLIFE SANCTUARY

Current Context: Snow leopard photographed for first time in Dhauladhar Wildlife Sanctuary

ABOUT DHAULADHAR WILDLIFE SANCTUARY

• Located in Kangra district, Himachal Pradesh.
• Lies along the Dhauladhar Range of the Lesser Himalayas.
• Declared a Wildlife Sanctuary in 1994.
• Covers an area of approximately 944 sq. km.
• Altitude ranges from about 1,600 metres to over 4,500 metres.

SNOW LEOPARD

• Scientific Name: Panthera uncia.
• Listed as Vulnerable on the IUCN Red List.
• Included in Schedule I of the Wild Life (Protection) Act, 1972.
• Found in the high-altitude Himalayan and trans-Himalayan regions.
• Presence indicates a healthy mountain ecosystem.

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