Current Affair 1:

India should focus on procuring minerals crucial for powering EVs: study

 

Batteries are a crucial requirement for electric vehicles (EVs) and minerals such as cobalt and lithium are crucial for making these batteries. Even as India is aggressively pushing for the faster adoption of EVs, it lacks reserves of these crucial raw materials.

A recent study by the World Resources Institute (WRI) has said that India should make adequate arrangements for procuring such minerals from other countries to ensure a smooth path for electric vehicle growth in the country.

The study, on electric vehicle battery technology, noted the challenges in India’s demand for EVs so far. These include the high initial cost of vehicles, lack of charging and maintenance infrastructure, and consumer perceptions around battery performance. It said limited domestic battery-manufacturing capabilities and a non-existent supply chain is a hurdle to building EVs in India.

The good news, however, is that despite there being no national target, at least 15 states across the country have released detailed policies for encouraging EVs.

According to the report, batteries require eight key raw materials including manganese (Mn), nickel (Ni), cobalt (Co), copper (Cu), aluminium (Al), graphite and titanium (Ti). It said that India has existing reserves of Mn, Ni, Cu, and Al.

For these ores, an attempt should be made to produce high-value battery components that local and international cell-manufacturing companies can use. In the case of graphite, existing reserves should be evaluated for availability of large-flake graphite content … India has no reserves of the other raw materials (Co and Li), and for these, adequate arrangements for procuring ores or concentrates from other countries should be made. Localised processing of lithium concentrates is beneficial for the battery industry from a reliability and purity perspective. Purity of lithium raw materials is crucial for achieving long cycle life.

Karnataka was the first state in the country to introduce a policy dedicated to EVs, following which a number of states have introduced their EV policies.

Current Affair 2:

SC: Provisions under RERA would prevail over that of SARFAESI in case of conflict between the two

 

In Union Bank of India vs. Rajasthan Real Estate Regulatory Authority (RERA), the Supreme Court upheld Rajasthan High Court’s judgement with respect to the entertainment of complaints raised by homebuyers against the bank. The bench comprising Justices MR Shah and BV Nagarathna stated that they completely agreed with the High Court’s view, dismissing the Special Leave Petition (SLP) filed by the Union Bank of India, which was as follows:

• RERA is not applicable in transactions between the borrower and the banks and financial institutions where security interest has been created by mortgaging the property prior to the introduction of the Act unless it is established that the creation of such transaction is fraudulent.
• In case of conflict between RERA and The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act (SARFAESI), the provisions contained in RERA would prevail.
• RERA authority can entertain a complaint by an aggrieved person against the bank as a secured creditor if the bank takes recourse to any of the provisions contained in Section 13(4) of the SARFAESI Act.

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