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In which Indian region were the first lithium deposits discovered with estimated reserves of 5.9 million tonnes?
  • a)
    Punjab
  • b)
    Jammu and Kashmir
  • c)
    Rajasthan
  • d)
    5.9 million tonnes?1. Punjab2. Jammu and Kashmir3. Rajasthan
Correct answer is option 'B'. Can you explain this answer?
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In which Indian region were the first lithium deposits discovered with...
The groundbreaking discovery of India's first lithium deposits, estimated at 5.9 million tonnes, was made in Jammu and Kashmir in February. Subsequent modifications to mining rules in July allowed private miners to explore these critical minerals, and reports indicate that the region will auction its lithium reserves in the coming months.
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In which Indian region were the first lithium deposits discovered with...
First Lithium Deposits Discovered in Jammu and Kashmir
The first lithium deposits in India were discovered in the region of Jammu and Kashmir. These deposits are estimated to have reserves of 5.9 million tonnes, making them a significant find for the country.

Significance of the Discovery
- The discovery of lithium deposits in Jammu and Kashmir is crucial as lithium is a key component in the manufacturing of batteries for electric vehicles, electronics, and renewable energy storage systems.
- With the increasing demand for lithium worldwide due to the shift towards cleaner energy sources, the discovery of these deposits in India can potentially reduce the country's dependence on lithium imports.

Impact on the Indian Economy
- The development of lithium mining and processing facilities in Jammu and Kashmir could boost the local economy by creating job opportunities and attracting investments in the region.
- It could also strengthen India's position in the global lithium market and promote the country's efforts towards sustainable and environmentally friendly energy solutions.

Future Prospects
- The Indian government has expressed plans to explore and develop the lithium reserves in Jammu and Kashmir to meet the domestic demand and reduce reliance on imports.
- This discovery could pave the way for India to become a significant player in the global lithium market and contribute towards achieving the country's renewable energy goals.
In conclusion, the discovery of lithium deposits in Jammu and Kashmir with estimated reserves of 5.9 million tonnes holds great potential for India's energy security and economic growth. It is essential for the government and relevant stakeholders to take proactive steps towards harnessing this valuable resource for the benefit of the nation.
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Directions: Read the passage carefully and select the best answer to each question out of the given five alternatives.In a bid to ensure timely support to depositors of stressed banks, the government may bring amendment to DICGC Act in the monsoon session with the objective to provide account holders easy and time-bound access to funds to the extent of the deposit insurance cover. Last year, the government raised insurance cover on deposit five-folds to Rs 5 lakh with a view to provide support to depositors of ailing lenders like Punjab and Maharashtra Co-operative (PMC) Bank. Following the collapse of PMC Bank, Yes Bank and Lakshmi Vilas Bank NSE 4.79 % too came under stress leading to restructuring by the regulator and the government.The amendment to the Deposit Insurance and Credit Guarantee Corporation (DICGC) Act, 1961 is the budget announcement made by the Finance Minister and the Bill is almost ready, sources said. It is expected that the Bill will be tabled in the upcoming monsoon session after being vetted by the Union Cabinet, sources added. Once the Bill becomes the law, it will provide immediate relief to thousands of depositors who had their money parked in stressed lenders such as PMC Bank and other small cooperative banks.As per the current provisions, the deposit insurance of up to Rs 5 lakh comes into play when the licence of a bank is cancelled and liquidation process starts. DICGC, a wholly-owned subsidiary of the Reserve Bank of India, provides insurance cover on bank deposits. Finance Minister Nirmala Sitharaman in the Budget speech in February said the government had approved an increase in the Deposit Insurance cover from Rs 1 lakh to Rs 5 lakh for bank customers last year. It could not be presented in the Budget session due to curtailment of the last session following the spread of the second wave of COVID-19 pandemic.It is to be noted that the enhanced deposit insurance cover of Rs 5 lakh is effective from February 4, 2020. The increase was done after a gap of 27 years as it was static since 1993. The cover is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the RBI. With increased insurance cover, the banks are paying a higher premium of 12 paise against 10 paise per Rs 100 deposited without any additional burden on account holders. The deposit insurance scheme covers all banks operating in India, including private sector, cooperative, and even branches of foreign banks. There are some exemptions such as deposits of foreign governments, deposits of central and state governments, and inter-bank deposits.It can be recalled that way back in 2009, the Raghuram Rajan committee on financial sector reforms had recommended strengthening the capacity of the DICGC, a more explicit system of prompt, corrective action, and making deposit insurance premia more risk-based.Q. Consider the following statements and choose the correct option.A. the enhanced deposit insurance cover of Rs. 5 lakh.B. The increase is never seen in Indian history.C. DICGC is a subsidiary of the Indian govt.

Directions: Read the passage carefully and select the best answer to each question out of the given five alternatives.In a bid to ensure timely support to depositors of stressed banks, the government may bring amendment to DICGC Act in the monsoon session with the objective to provide account holders easy and time-bound access to funds to the extent of the deposit insurance cover. Last year, the government raised insurance cover on deposit five-folds to Rs 5 lakh with a view to provide support to depositors of ailing lenders like Punjab and Maharashtra Co-operative (PMC) Bank. Following the collapse of PMC Bank, Yes Bank and Lakshmi Vilas Bank NSE 4.79 % too came under stress leading to restructuring by the regulator and the government.The amendment to the Deposit Insurance and Credit Guarantee Corporation (DICGC) Act, 1961 is the budget announcement made by the Finance Minister and the Bill is almost ready, sources said. It is expected that the Bill will be tabled in the upcoming monsoon session after being vetted by the Union Cabinet, sources added. Once the Bill becomes the law, it will provide immediate relief to thousands of depositors who had their money parked in stressed lenders such as PMC Bank and other small cooperative banks.As per the current provisions, the deposit insurance of up to Rs 5 lakh comes into play when the licence of a bank is cancelled and liquidation process starts. DICGC, a wholly-owned subsidiary of the Reserve Bank of India, provides insurance cover on bank deposits. Finance Minister Nirmala Sitharaman in the Budget speech in February said the government had approved an increase in the Deposit Insurance cover from Rs 1 lakh to Rs 5 lakh for bank customers last year. It could not be presented in the Budget session due to curtailment of the last session following the spread of the second wave of COVID-19 pandemic.It is to be noted that the enhanced deposit insurance cover of Rs 5 lakh is effective from February 4, 2020. The increase was done after a gap of 27 years as it was static since 1993. The cover is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the RBI. With increased insurance cover, the banks are paying a higher premium of 12 paise against 10 paise per Rs 100 deposited without any additional burden on account holders. The deposit insurance scheme covers all banks operating in India, including private sector, cooperative, and even branches of foreign banks. There are some exemptions such as deposits of foreign governments, deposits of central and state governments, and inter-bank deposits.It can be recalled that way back in 2009, the Raghuram Rajan committee on financial sector reforms had recommended strengthening the capacity of the DICGC, a more explicit system of prompt, corrective action, and making deposit insurance premia more risk-based.Q. What is the main reason to make an amendment in the law?

Directions: Read the passage carefully and select the best answer to each question out of the given five alternatives.In a bid to ensure timely support to depositors of stressed banks, the government may bring amendment to DICGC Act in the monsoon session with the objective to provide account holders easy and time-bound access to funds to the extent of the deposit insurance cover. Last year, the government raised insurance cover on deposit five-folds to Rs 5 lakh with a view to provide support to depositors of ailing lenders like Punjab and Maharashtra Co-operative (PMC) Bank. Following the collapse of PMC Bank, Yes Bank and Lakshmi Vilas Bank NSE 4.79 % too came under stress leading to restructuring by the regulator and the government.The amendment to the Deposit Insurance and Credit Guarantee Corporation (DICGC) Act, 1961 is the budget announcement made by the Finance Minister and the Bill is almost ready, sources said. It is expected that the Bill will be tabled in the upcoming monsoon session after being vetted by the Union Cabinet, sources added. Once the Bill becomes the law, it will provide immediate relief to thousands of depositors who had their money parked in stressed lenders such as PMC Bank and other small cooperative banks.As per the current provisions, the deposit insurance of up to Rs 5 lakh comes into play when the licence of a bank is cancelled and liquidation process starts. DICGC, a wholly-owned subsidiary of the Reserve Bank of India, provides insurance cover on bank deposits. Finance Minister Nirmala Sitharaman in the Budget speech in February said the government had approved an increase in the Deposit Insurance cover from Rs 1 lakh to Rs 5 lakh for bank customers last year. It could not be presented in the Budget session due to curtailment of the last session following the spread of the second wave of COVID-19 pandemic.It is to be noted that the enhanced deposit insurance cover of Rs 5 lakh is effective from February 4, 2020. The increase was done after a gap of 27 years as it was static since 1993. The cover is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the RBI. With increased insurance cover, the banks are paying a higher premium of 12 paise against 10 paise per Rs 100 deposited without any additional burden on account holders. The deposit insurance scheme covers all banks operating in India, including private sector, cooperative, and even branches of foreign banks. There are some exemptions such as deposits of foreign governments, deposits of central and state governments, and inter-bank deposits.It can be recalled that way back in 2009, the Raghuram Rajan committee on financial sector reforms had recommended strengthening the capacity of the DICGC, a more explicit system of prompt, corrective action, and making deposit insurance premia more risk-based.Q. Which of the following is a synonym of the word curtailment?

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In which Indian region were the first lithium deposits discovered with estimated reserves of 5.9 million tonnes?a)Punjabb)Jammu and Kashmirc)Rajasthand)5.9 million tonnes?1. Punjab2. Jammu and Kashmir3. RajasthanCorrect answer is option 'B'. Can you explain this answer?
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In which Indian region were the first lithium deposits discovered with estimated reserves of 5.9 million tonnes?a)Punjabb)Jammu and Kashmirc)Rajasthand)5.9 million tonnes?1. Punjab2. Jammu and Kashmir3. RajasthanCorrect answer is option 'B'. Can you explain this answer? for Bank Exams 2024 is part of Bank Exams preparation. The Question and answers have been prepared according to the Bank Exams exam syllabus. Information about In which Indian region were the first lithium deposits discovered with estimated reserves of 5.9 million tonnes?a)Punjabb)Jammu and Kashmirc)Rajasthand)5.9 million tonnes?1. Punjab2. Jammu and Kashmir3. RajasthanCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Bank Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In which Indian region were the first lithium deposits discovered with estimated reserves of 5.9 million tonnes?a)Punjabb)Jammu and Kashmirc)Rajasthand)5.9 million tonnes?1. Punjab2. Jammu and Kashmir3. RajasthanCorrect answer is option 'B'. Can you explain this answer?.
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