PIB Summary- 3rd November, 2022 | PIB (Press Information Bureau) Summary - UPSC PDF Download

Ethanol Blended Petrol Programme (EBP)

Why in News?
The Cabinet Committee on Economic Affairs chaired by Hon’ble Prime Minister has approved higher ethanol price derived from different sugarcane based raw materials under the EBP Programme for the forthcoming sugar season 2022-23.

What is Ethanol fuel?

• Ethanol fuel is ethyl alcohol, the same type of alcohol found in alcoholic beverages, used as fuel.
• It is most often used as a motor fuel, mainly as a biofuel additive for gasoline.
• Ethanol is commonly made from biomass such as corn or sugarcane.
• Bioethanol is a form of renewable energy that can be produced from agricultural feedstocks.
• It can be made from very common crops such as hemp, sugarcane, potato, cassava and corn.
• There has been considerable debate about how useful bioethanol is in replacing gasoline.
• Concerns about its production and use relate to increased food prices due to the large amount of arable land required for crops, as well as the energy and pollution balance of the whole cycle of ethanol production, especially from corn.

Ethanol Blended Petrol Programme (EBP)

• Ethanol Blended Petrol (EBP) programme was launched in 2003- and this initiative is pursued aggressively in the last 4 to 5 years to reduce import dependence of crude oil as well as mitigate environmental pollution.
• The Ethanol Blending Programme (EBP) seeks to achieve blending of Ethanol with motor sprit with a view to reducing pollution, conserve foreign exchange and increase value addition in the sugar industry enabling them to clear cane price arrears of farmers.
• Although the Government of India decided to launch EBP programme in 2003 for supply of 5% ethanol blended Petrol, it later scaled up blending targets from 5% to 10% under the Ethanol Blending Programme (EBP).
• The Government of India has also advanced the target for 20% ethanol blending in petrol (also called E20) to 2025 from 2030.
• Currently, 8.5% of ethanol is blended with petrol in India.

Roadmap for Ethanol Blending in India by 2025

• The central government has released an expert committee report on the Roadmap for Ethanol Blending in India by 2025 that proposes a gradual rollout of ethanol-blended fuel to achieve E10 fuel supply by April 2022 and phased rollout of E20 from April 2023 to April 2025.
• The Ministry of Petroleum & Natural Gas (MoP&NG) had instituted an Expert Group to study the issues such as pricing of ethanol, matching pace of the automobile industry to manufacture vehicles with new engines with the supply of ethanol, pricing of such vehicles, fuel efficiency of different engines etc.

Advantages of Ethanol Blending

• Use of ethanol-blended petrol decreases emissions such as carbon monoxide (CO), hydrocarbons (HC) and nitrogen oxides (NOx).
• The unregulated carbonyl emissions, such as acetaldehyde emission were, however, higher with E10 and E20 compared to normal petrol. However, these emissions were relatively lower.
• Increased use of ethanol can help reduce the oil import bill. India’s net import cost stands at USD 551 billion in 2020-21. The E20 program can save the country USD 4 billion (Rs 30,000 crore) per annum.
• The oil companies procure ethanol from farmers that benefits the sugarcane farmers.
• Further, the government plans to encourage use of water-saving crops, such as maize, to produce ethanol, and production of ethanol from non-food feedstock.

India’s First Floating Financial Literacy Camp

Why in News?
India Post Payments Bank conducts India’s First Floating Financial Literacy Camp

About India’s First Floating Financial Literacy Camp

• India Post Payments Bank (IPPB), stablished under the Department of Posts, Ministry of Communication with 100% equity owned by the Government of India, conducted India’s First Floating Financial Literacy Camp with an initiative called ‘Niveshak Didi’ to promote Financial Literacy ‘By the women, for the women’, in Srinagar, J&K
  • As part of launch of ‘Niveshak Didi’ initiative, IPPB conducted India’s First Floating Financial Literacy Camp by a newly appointed ‘Niveshak Didi’.
• The Floating Financial Literacy Camp was conducted among the local residents around the world-famous Dal Lake of Srinagar, J&K.
• Since Shikara is part & parcel of their life, the gathering did take place on multiple Shikaras and the ‘Niveshak Didi’ held the Financial Literacy session in local Kashmiri language from Shikara itself, thus the whole session was conducted in the waters of Dal Lake.
• The session covered topics ranging from banking and financial products, importance of joining the mainstream financial services offered by regulated entities & protection against various types of risks involved with investments and measures of fraud prevention.
• India Post Payments Bank looks forward to continue such efforts to deliver its mandate of enhancing financial empowerment to the last mile.

About India Post Payments Bank (IPPB)

• The India Post Payments Bank is a public sector payments bank from India operated by the India Post.
• The India Post Payment Bank (IPPB) was setup under the Department of Post, Ministry of Communication with 100% equity Owned by Government of India.
• The India Post Payments Bank (IPPB) will be like any other banks but its operations will be on a smaller scale without involving any credit risk.
• It will carry out most banking operations like accepting deposits but won’t advance loans or issue credit cards.
• Motto: “Every customer is important, every transaction is significant and every deposit is valuable”.
• Vision: “Building the most accessible, affordable and trusted bank for the common man”.
• Mission: “Spearheading financial inclusion by removing barriers and reducing costs for accessing banking services”.
• The IPPB has been integrated with Post Office Savings Bank (POSB).
• The IPPB is the sixth Payments bank, which has become operational after Aditya Birla, Airtel, Fino, Jio and Paytm Payments Banks.
• The freshly-minted payments bank will accept deposits of up to Rs. 1 lakh, offer remittance services, mobile payments/transfers/purchases and other banking services like ATM/debit cards, net banking and third-party fund transfers.
• The Payments bank are licensed under Section 23 of the Banking Regulation Act 1949, and registered as public limited company under the Companies Act, 2013.