Lithium reserves for the first time found in Jammu & Kashmir
Lithium reserves for the first time
found in Jammu & Kashmir
Why In News
Lithium reserves for
the first time found in J&K: In Jammu and Kashmir, 5.9 million tonnes of
lithium reserves have been discovered for the first time in India.
In Jammu and Kashmir,
5.9 million tonnes of lithium reserves have been discovered for the first time
in India, according to the Mines Ministry’s announcement on Thursday (February,
9).
According to the
Ministry of Mines, the Geological Survey of India has for the first time
discovered 5.9 million tonnes of lithium inferred resources (G3) in the
Salal-Haimana area of the Reasi district of Jammu and Kashmir.
These 51 mineral
blocks, which are located in the 11 states of Jammu and Kashmir (UT), Andhra
Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Odisha,
Rajasthan, Tamil Nadu, and Telangana, are divided into five blocks related to
gold and the remaining blocks related to commodities like potash, molybdenum,
base metals, etc.
First Youth20
Inception Meeting 2023 Begins in Guwahati
Increase in Prices of
Lithium Ion Battery
Lithium-ion battery
prices increased last year for the first time in the EV era. Elon Musk lamented
lithium’s “insane” surge and claimed that one of the major challenges facing
Tesla Inc. was the high cost of raw materials.
As Prime Minister
Narendra Modi pledges to achieve net zero by 2070, the central government has
announced incentives worth at least $3.4 billion to speed up its sluggish
adoption of EVs. The theory is that producing the most expensive
component—batteries—locally will lower the final price for the mass market and
position the nation as a potential exporter, taking advantage of the soaring
worldwide demand.
Billionaires like
Mukesh Ambani, whose Reliance Industries Ltd. is building an EV battery
facility as part of a larger $76 billion push into sustainable energy, are
interested in the efforts.
Ambani’s is one of
three businesses that will receive incentives as part of a $2.3 billion scheme
to assist the development of innovative battery cells, along with bullion
refiner Rajesh Exports Ltd. and scooter manufacturer Ola Electric Mobility Pvt.
The second-most
populous nation in the world lacks a significant portion of the raw materials
required to meet domestic demand for lithium-ion batteries, which Crisil
predicts will increase 100-fold by 2030, let alone to create on a worldwide
scale.
Demand for lithium,
nickel, cobalt, and other metals used in lithium-ion batteries is increasing as
society shifts away from combustion engines powered by gasoline.
Union Minister Ashwini Vaishnaw launch ‘Digital Payments Utsav’
Union Minister Ashwini Vaishnaw launch
‘Digital Payments Utsav’
Why In News
Ashwini Vaishnaw
launch ‘Digital Payments Utsav’: The "Digital Payments Utsav,"
campaign for encouraging digital payments throughout India, was launched by
Shri Ashwini Vaishnaw.
The “Digital Payments
Utsav,” a comprehensive campaign aiming at encouraging digital payments
throughout India, was launched by Shri Ashwini Vaishnaw, Minister for
Electronics and Information Technology, Communications, and Railways.
On the event,
dignitaries included Shri Alkesh Kumar Sharma, Secretary, MeitY, Ms. Simmi
Choudhary, Economic Advisor, Shri Sanjay Bahl, Director General, CERT-In, Shri
Akash Tripathi, CEO, MyGov, and Dilip Abse, MD & CEO, NPCI. The occasion,
which was hosted in front of esteemed representatives from the Central
Ministries, Delhi Police, Banks, and Fintechs, represents a crucial step in the
nation’s march towards digital transformation.
An exceptional
campaign called “Digital Payments Utsav” will highlight India’s digital
transformation path through a number of events and activities from 9 February
to 9 October 2023.
As part of the G20
Digital Economy Working Group (DEWG) event, the campaign will concentrate on
promoting digital payments throughout the nation, particularly in the cities of
Lucknow, Pune, Hyderabad, and Bengaluru.
Shri Ashwini Vaishnaw
revealed his goal of having the entire digital credit system in place by 2023
and gave the NPCI the go-ahead to lead the charge in that regard.
He also wished each
bank much luck and urged people to embrace the prime minister’s vision of how
the digital revolution will alter the lives of the nation’s hard-to-reach
citizens.
He stated that UPI
123 Pay is now available in the local language thanks to a partnership with
Digital Payments and Mission Bhashini, the National Language Translation
Mission.
A regular individual
will be able to make payments using voice commands in her own language as a
result.
‘Digital Payments Utsav’: UPI outside India
In his opening
remarks, Shri Alkesh Kumar Sharma, Secretary, MeitY, informed the audience of
the ongoing initiatives to broaden the use of the Unified Payment Interface
(UPI) outside of India.
According to him, the
goal is to make UPI a widely used form of payment through uniting India’s
disconnected regions.
He emphasised that
the National Payments Corporation of India (NPCI), in collaboration with
nations like Nepal, Singapore, Bhutan, the United Kingdom, and the United Arab
Emirates, has already made progress in this area.
The secretary also
mentioned that NRIs living in Australia, Canada, Hong Kong, Oman, Qatar, Saudi
Arabia, Singapore, the United Arab Emirates, the United Kingdom, and the United
States will soon have access to UPI services.
Additionally, 28
DigiDhan Awards for outstanding achievement in the field of digital payments
were given to top-performing banks, bankers, and fintech businesses in several
categories. The awards honour these organisations’ efforts to advance
electronic payments and advance the development of the digital economy.