• The 18th edition of the Indo-US joint training exercise “YUDH ABHYAS 22” will be conducted in Uttarakhand this month.
• The exercise is conducted annually by the two countries with the aim of exchanging best practices, Tactics, Techniques, and Procedures between the Armies.
• The previous edition of the exercise was conducted at the Joint Base Elmendorf Richardson, Alaska (USA) in October 2021.
• US Army soldiers of the 2nd Brigade of the 11th Airborne Division and Indian Army soldiers from the ASSAM Regiment will be participating in the exercise.
• The training schedule focuses on the employment of an integrated battle group under Chapter VII of the UN Mandate. The schedule will include all operations related to peacekeeping & peace enforcement.
• The troops from both nations will work together to achieve common objectives. The joint exercise will also focus on Humanitarian Assistance and Disaster Relief (HADR) operations. Troops from both nations will practice launching swift and coordinated relief efforts in the wake of any natural calamity.
• In order to derive full benefit from the professional skills and experiences of both armies, a Command Post Exercise and Expert Academic Discussions (EAD) on carefully selected topics will be carried out.
• The scope of the Field Training Exercise includes the validation of integrated battle groups, force multipliers, establishment and functioning of surveillance grids, validation of operational logistics, mountain warfare skills, casualty evacuation and combat medical aid in adverse terrain and climatic conditions.
• The exercise will involve exchanges and practices on a wide spectrum of combat skills including combat engineering, employment of UAS/Counter UAS techniques and information operations.
• ”The exercise will facilitate both Armies to share their wide experiences, and skills and enhance their techniques through information exchange,” the Ministry of Defence said.

About:

• Russia becomes first country to facilitate rupee-based export-import transactions
• The move will facilitate India’s exports to sanction-hit Russia, which reported a 24% decline in the April-August period. The RBI-designed mechanism only entails trade in the Indian rupee, eliminating exchange risks.
• To facilitate trade through this route, the government, through an amendment in the foreign trade policy recently, allowed exporters to avail of incentives or duty rebates for settling trade in rupee terms.

 NOSTRO Account

• Italian word ‘nostro’ means ‘ours’. Hence, Nostro account points at – “Our account with you”.
• Nostro accounts are generally held in a foreign country (with a foreign bank), by a domestic bank (from our perspective, our bank). It obviates that account is maintained in that foreign currency.
• For example, SBI account with HSBC in U.K. (may be).

 VOSTRO Account

• Italian word ‘vostro’ means ‘yours’. Hence, Vostro account points at – “Your account with us“.
• Vostro accounts are generally held by a foreign bank in our country (with a domestic bank). It generally maintained in Indian Rupee (if we consider India).
• For example, HSBC account is held with SBI in India. (may be).

• Pakistan, Ghana and Bangladesh will be among the first recipients of funding from a G7 ‘Global Shield’ initiative to provide funding to countries suffering climate disasters, the programme announced at the COP27 summit in Egypt.

What Is Global Shield Funding:

• The Global Shield(GS), coordinated by G7 president Germany, aims to provide rapid access for climate-vulnerable countries to insurance and disaster protection funding after floods or drought.
• It is being developed in collaboration with the‘V20’ group of 58 climate vulnerable economies. Germany has contributed $175.17 million in funding to Global Shield while other countries including Denmark and Ireland have contributed a little over $41 million. 

Objective Of the Fund:

• The GS will close urgent protection gaps in countries by designing, funding, and facilitating interventions.
• The GS aims to rapidly provide pre-arranged insurance and disaster protection funding after events such as floods, droughts and hurricanes hit.
• The Global Shield aims to complement, not replace, the progress on ‘loss and damage’.

Who Are the Beneficiaries:

• Bangladesh, Costa Rica, Fiji, Ghana, Pakistan, the Philippines and Senegal as some of the initial recipients of Global Shield packages. Those packages would be developed in the coming months.

• The G20 Presidency of Indonesia is hosting the official launch of the Pandemic Fund on the margins of the G20 Joint Finance and Health Ministers’ Meeting in Bali, Indonesia in the presence of Joko Widodo, President of Indonesia.

Objective Of the Initiative:

• At the launch, the Pandemic Fund, now with new name and logo, will provide the latest progress the Governing Board has made since its establishment on September 8, 2022, to get operational – an important step toward strengthening global health architecture.

Need of The Initiative:

• Drawing on lessons from COVID-19, which exposed huge weaknesses and under investment in pandemic prevention, preparedness and response (PPR),particularly in low- and middle-income countries, the Pandemic Fund is intended to strengthen the capacity of these countries to mitigate the risks of future global health threats.
• It will provide a dedicated stream of long-term financing for PPR and address critical gaps through investments and technical support at the national, regional, and global levels. The Pandemic Fund is also expected to incentivize countries to prioritize this agenda and increase their own efforts.

What Has Been Said:

• This is the first time the international community has come together around a funding mechanism dedicated to investing in pandemic prevention, preparedness, and response in developing countries – a testament to multilateralism, said  Chatib Basri, co-Chair of the Pandemic Fund Governing Board.
• “The Pandemic Fund has a unique and vital role to play in making the world safer. PPR is a global public good that benefits all. Every dollar we mobilize to invest in PPR now in low- and middle-income countries will save lives and financial costs and lead to a more resilient world for years to come.”

More About the Initiative:

• Developed with Indonesia’s and Italy’s leadership during their respective G20 presidencies, the Pandemic Fund has US$1.4 billion in seed funding already committed by 24 donors.
• The World Bank and WHO engaged with a wide range of stakeholders including partner countries, civil society organizations (CSOs), and potential implementing entities to create the Pandemic Fund.

Technical Advisory Panel (TAP):

• The TAP, under the leadership of its new Chair Dr Michael Ryan, will assess and make recommendations to the Governing Board on the technical merits of proposals for funding, ensuring linkages to the International Health Regulations (2005) and other internationally endorsed legal frameworks, consistent with a One Health approach, as part of the broader global PPR architecture.

• The profit after tax (PAT) of Satluj Jal Vidyut Nigam (SJVN) Limited has increased by 42 per cent to Rs 1,058.86 crore from Rs 745.61 crore in the first half of the current fiscal year.
• “In the first half of the current fiscal year, the revenue from operations has surged by about 22 per cent to Rs 1,886.99 crore from Rs 1,547.44 crore during the corresponding period of previous fiscal year,” said SJVN chairman Nand Lal Sharma.
• He said the SJVN had upped its earning per share (EPS) to Rs 2.70 in the first half of the fiscal as compared to Rs 1.90 of the previous fiscal. Besides, the company’s net worth has increased to Rs 13,970.52 crore from Rs 13,349.21 crore as on September 30 last year.
• Apprising about recent developments, Sharma said during the second quarter of the current fiscal year, SJVN had added two more floating solar projects of 105 MW and 83 MW capacity in Maharashtra and Madhya Pradesh, respectively, to its kitty.
• The 1500 MW Nathpa Jhakri Hydro Power Station achieved the highest ever daily generation of 39.526 MU on August 30, and the 412 MW Rampur Hydro Power Station generated the highest ever monthly power generation of 290.409 MU in September this year,” he said.
• Satluj Jal Vidyut Nigam (SJVN) Limited has secured an 83 MW floating solar project in Madhya Pradesh.
• “This project has been secured at Rs 3.70/unit on build, own and operate basis in an e-reverse auction organised by REWA Ultra Mega Solar Limited (RUMSL),” said SJVN chairman Nand Lal Sharma.
• Sharma said the SJVN would develop the project in India’s largest floating solar park at Omkareshwar in Khandwa district of Madhya Pradesh. “The cost of developing the project will be approximately Rs 585 crore. After commissioning, the project will generate 187 million units in the first year and 4,410 million units over a period of 25 years. The commissioning of the project is expected to reduce approximately 2,16,074 tonnes of carbon emission in 25 years,” he added.
• The power purchase agreement will be signed between the RUMSL and the SJVN for 25 years. The project shall be commissioned within a period of 21 months from the date of the signing of the PPA.
• “This is our second floating solar project bagged through the tariff-based competitive bidding process from the RUMSL. We are already developing a 90 MW floating solar project in Madhya Pradesh,” Sharma added.
• The SJVN is implementing the project along with other renewable ones of 4,090.5 MW capacity through its wholly owned subsidiary SJVN Green Energy Limited.

• Prof Janardan Singh, Head of Department of Organic Agriculture and Natural Farming, CSK Himachal Pradesh Agricultural University (HPAU), here, was recently conferred with the Best Teacher Award.
• The former Deputy Director General (DDG) (Education) of the ICAR, Dr NS Rathore, presented him the award during the national conference on ‘Natural Farming for Sustainable Agriculture and National Prosperity’ held at Sardarkrushinagar Dantiwada Agricultural University (SDAU), Sardarkrushinagar, Gujarat.
• Singh was awarded for his significant contribution to the field of teaching and research conducted in various national and international institutions during his service career of more than 30 years.
• He also presented an invited lead paper on natural farming in the conference. He has bagged a number of national and international awards, besides professional visits to various countries.

• Youth Affairs and Sports Ministry announced the National Sports Awards 2022. The awardees will receive their awards from the President of India at Rashtrapati Bhavan on the 30th of this month. Table Tennis player Sharath Kamal Achanta has been chosen for Major Dhyan Chand Khel Ratna Award.
• Arjuna Awards will be given to 25 sportspersons including Seema Punia, Lakshya Sen, Nikhat Zareen, R Praggnanandhaa, Deep Grace Ekka, Sushila Devi, Sagar Kailas Ovhalkar, Omprakash Mitharval, Vikas Thakur, Manasi Girishchandra Joshi among others. Five coaches have been chosen for Dronacharya Award in the regular category and three coaches in the lifetime category. Dhyan Chand Award for Lifetime Achievement in Sports and Games will be given to four sportspersons including Ashwini Akkunji C, Dharamvir Singh, B.C Suresh and Nir Bahadur Gurung.
• Three entities including TransStadia Enterprises Private Limited, Kalinga Institute of Industrial Technology and Ladakh Ski and Snowboard Association have been recommended for Rashtriya Khel Protsahan Puruskar. Maulana Abul Kalam Azad Trophy 2022 will be given to Guru Nanak Dev University of Amritsar.
• National Sports Awards are given every year to recognize and reward excellence in sports. Major Dhyan Chand Khel Ratna Award is given for the spectacular and most outstanding performance in the field of sports by a sportsperson.
• Arjuna Award for outstanding performance in Sports and Games is given for good performance over a period of the previous four years and for showing qualities of leadership, sportsmanship and a sense of discipline. Dronacharya Award for outstanding coaches in Sports and Games is given to coaches for doing outstanding and meritorious work.
• Dhyan Chand Award for Lifetime Achievement in Sports and Games is given to honour sportspersons who have contributed to sports. Rashtriya Khel Protsahan Puruskar is given to corporate entities in the private and public sectors, Sports Control Boards, NGOs, including sports bodies at the State and National levels, who have played a visible role in the area of sports promotion and development.

• The report is a compilation of the ‘rule of law’ status across 140 countries worldwide.

About:

• It was released by an international civil society organisation, World Justice Project (WJP).
• According to the report, the rule of law has declined globally for the fifth consecutive year.
• It says that the checks on executive power are weakening, and respect for human rights is falling.

 Top and bottom performers:

• Thetop-ranked country in the WJP Rule of Law Index 2022 is Denmark, followed by Norway (2), Finland (3), Sweden (4), and the Netherlands (5).
• The bottom ranked countries are Venezuela (140), Cambodia (139), Afghanistan (138), the Democratic Republic of Congo (137), and Haiti (136).

 India:

• India has been ranked 77 out of 140 countries with a score of50 on the ‘rule of law index’.
• Globally, India ranks 94 out of 140 as far as adherence to fundamental rights are concerned, 111 out of 140 in civil justice, 89 out of 140 in criminal justice and 93 out of 140 in absence of corruption.

 Neighbouring countries:

• Bangladesh scored 0.39 in the 127th rank, Pakistan settled with a 0.39 score at the 129th rank, and China scored 0.47 in the 95th rank.
• Notably, Nepal has performed better than its neighbours, with a 0.52 score and 69th rank.

 Factors:

• The index is prepared by examining these four principles through eight factors- constraints on government powers, absence of corruption, open government, fundamental rights, order and security, regulatory enforcement, civil justice, and criminal justice.

 Rule of Law:

• The World Justice Project defines the rule of law as a durable system of laws, institutions, norms, and community commitment that delivers: accountability, just laws, open government, and accessible justice.

 World Justice Project (WJP):

• The World Justice Project (WJP) is an independent, multidisciplinary organization working create knowledge, build awareness, and stimulate action to advance the rule of law worldwide.
• It was founded by William H. Neukom in 2006 as a presidential initiative of the American Bar Association (ABA).

 Law and Order Index of 2022:

• The survey was conducted by a global analytics firm called Gallup.
• India has scored 80 points and has secured the 60th rank on the index that ranges from one to 100, a higher score indicating that more people feel secure in a country.
• It has declared East Asia as the most secure region in the world and Taliban-occupied Afghanistan as the least secured country for the third year.
• The first survey conducted by the firm was in 1938 in the United Kingdom.
• The survey evaluated around 120 countries based on the safety and security of the country’s citizens.

• The 75 Creative Minds of Tomorrow initiative is the brainchild of Union Minister for Information and Broadcasting and Youth Affairs and Sports, Anurag Singh Thakur.
• The initiative aims to identify, encourage and nurture young creative talent in filmmaking, from the entire length and breadth of the country.
• The segment is an annual platform at the International Film Festival of India held in Goa, to identify, encourage and nurture young creative talents from across various aspects of filmmaking.
• The initiative is in its second year, having been launched in 2021 to mark the 75th year of India’s independence as part of the ‘Azadi Ka Amrit Mahotsav’ celebrations.
• The 75 creative minds will be shortlisted and selected on the basis of their submissions by an eminent jury, under the aegis of the National Film Development Corporation ahead of the 53rd edition of International Film Festival of India.

• It is organised by Union Ministry of Home Affairs.
• It aims to progress the discussions on combating terrorist financing held by the international community in the previous two Conferences in Paris (2018) and Melbourne (2019).
• It also intends to include discussions on technical, legal, regulatory and cooperation aspects of all facets of terrorism financing.
• It attempts to also set the pace for other high level official and political deliberations, focused on countering terrorist financing.
• The Conference intends to bring together representatives of 75 countries and international bodies for extended deliberations over two days.

Focus areas:

• Discussions at the 3rd ‘No Money For Terror’ Conference will be focussed on global trends in terrorism and terrorist financing, use of formal and informal channels of funds for terrorism, emerging technologies and terrorist financing and requisite international co-operation to address related challenges.

Other global events:

• India was host to two global events in October, 2022 – the annual General Assembly of the Interpol in Delhi and a special session of the UN Counter Terrorism Committee in Mumbai and Delhi.