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When Dheeraj Singh bought a Tata Nexon EV (electric vehicle) earlier this year, he did not install the charging kit since he planned to move out of his Noida apartment within months.
Instead, he discovered Hopcharge, a Gurgaon-based start-up that provides door-to-door EV fast charging services.
With a Hopcharge subscription, Singh can order a van equipped with lithium-ion power banks at an hour’s notice and get his EV charged anywhere in the National Capital Region.
In India, where there is just one charging point for 164 EVs (compared to the global average of 15.9 EVs), a handful of start-ups such as Hopcharge are vying to plug themselves in by providing door-to-door fast charging services and similar solutions.
Express Network
IMD: Despite ElNino 73% areas received normal rain in June – Sept (Page no. 7)
(GS Paper 1, Geography)
The India Meteorological Department (IMD) the country recorded normal rainfall, despite El Nino, during June to September.
With the end of the southwest monsoon season, quantitatively, the all-India rainfall was 94.4 per cent of the Long Period Average (LPA).
Though the year began with the emergence of El Nino conditions — the abnormal warming of the equatorial Pacific Ocean and linked to causing subdued rainfall over large parts of India — and its rapid intensification between March and May, there were multiple other factors that countered the likely adversity posed by El Nino.
The favourable phase — the Madden Julian Oscillation (MJO), the positive phase of the Indian Ocean Dipole (IOD) and higher than normal number of low pressure systems and their movement — helped counter the effect of El Nino.
Aditya L1 exits Earth’s sphere of influence: ISRO (Page no. 9)
(GS Paper 3, Science and Technology)
After bidding adieu to Earth’s orbit 11 days ago, India’s solar mission Aditya L1 has now left the Earth’s sphere of influence — the region up to which our planet’s gravitational pull can impact a satellite, the Indian Space Research Organisation said.
The satellite left the Earth’s orbit on September 19. The spacecraft has travelled 0.92 million kilometres with a nearly 100-day journey ahead to reach the Lagrangian (L1) point 1 between the Sun and the Earth.
This is the second time in succession that ISRO could send a spacecraft outside the sphere of influence of the Earth, the first time being the Mars Orbiter Mission.
World
In a shift closer to China, Opp Candidate projected to win Maldives presidency (Page no. 16)
(GS Paper 2, International Relation)
Opposition candidate Mohamed Muiz won the Maldives presidential runoff on Saturday, securing more than 53 per cent of the vote, local media reported.
The election has turned into a virtual referendum on which regional power--India or China--will have the biggest influence in the Indian Ocean archipelago nation.
Mihaaru News reported that incumbent President Ibrahim Mohamed Solih had received 46 per cent of the vote and that Muiz had won by more than 18,000 votes.
With today's result we have got the opportunity to build the country's future. The strength to ensure the freedom of Maldives, Muiz said in a statement after his victory. It's time we put our differences aside and come together. We need to be a peaceful society.
Muiz also requested that Solih transfer former president Abdulla Yameen to house arrest from prison. It was a surprise win for Muiz, who entered the fray as an underdog.
He was named only as a fallback candidate closer to the nomination deadline after the Supreme Court prevented Yameen from running because he is serving a prison sentence for money laundering and corruption. Yameen's supporters say he's been jailed for political reasons.
China visit historic successful: Nepal PM (Page no. 16)
(GS Paper 2, International Relation)
Kathmandu, Sep 30 (PTI) Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said his just concluded visit to China has strengthened the atmosphere of trust between Kathmandu and Beijing and further deepened the historic relations existing between the two neighbours.
Speaking to reporters at the Tribhuvan International Airport soon after arriving from China, Prachanda said his meetings with Chinese President Xi Jinping and his Chinese counterpart, Li Qiang, contributed to taking Nepal-China relations to a new height.
Economy
Four factors why bank credit growth is expected to moderate in FY 24 (Page no. 17)
(GS Paper 3, Economy)
Banking sector credit growth is likely to be lower at 13-13.5 per cent in fiscal 2023-24, according to domestic rating agency Crisil Ratings.
This expectation comes after bank credit clocked a robust 15.9 per cent in fiscal 2022-23 driven by a broad-based economic recovery, stronger, cleaner balance sheets and the lower base of the preceding two fiscals.
This credit growth estimate, however, excludes the impact of the merger of HDFC Ltd with HDFC Bank in fiscal 2024.
Care Ratings in a report earlier this month said the projected growth rate for bank credit is expected to be at 13-13.5 per cent for FY24, excluding the merger’s impact.
As of September 8, 2023, bank credit grew by 19.81 per cent on a year-on-year basis to Rs 150.38 lakh crore, according to the RBI data. The number includes the impact of the merger of HDFC Ltd with HDFC Bank.
Post-merger, the loan portfolio of the mortgage lender has become part of the banking system. However, excluding the impact of the merger, bank credit has grown by 15.08 per cent.
Govt has allocated 100 cr for aspirational blocks programme this fiscal (Page no. 17)
(GS Paper 3, Economy)
The government in this financial year has allocated Rs 100 crore for the Aspirational Blocks Programme (ABP), which aims to improve governance at the block level, in order to enhance the quality of life of citizens.
The Aspirational Blocks Programme is being implemented in 500 aspirational blocks across 329 districts in the country. Prime Minister Narendra Modi launched the nationwide programme on January 7.
The government has allocated Rs 100 crore for the Aspirational Blocks Programme in 2023-24… We expect that all 500 backward blocks will reach the state average in terms of development.
Out of 500 aspirations blocks, 160 blocks are part of the 112 aspirational districts.
Uttar Pradesh has the maximum number of blocks (68) under this programme, followed by Bihar (61) and Madhya Pradesh.