• Department for Promotion of Industry and Internal Trade (DPIIT) hosted Conference on B20 Indonesia Global Dialogue in partnership with Confederation of Indian Industry (CII) in New Delhi, with the aim of aligning the perspectives of Indian industry with the policy recommendations of B20 Indonesia.
• This conference would set tone for the deliberations to ensure that the Indian perspectives are well represented in the policy recommendation of B20 Indonesia.
• Business 20 (B20), formed in 2010,is the official G20 dialogue forum with the global business community.
• B20 aims to deliver concrete actionable policy recommendations on the prioritiesby each rotating presidency to spur economic growth and development.
• After Opening Plenary and introductory remarks, Dialogues were held on (i)Trade & Investment (ii) Energy, Sustainability & Climate (iii) Digitisation and (iv) Finance and Infrastructure wherein perspectives from B20 Indonesia was followed by perspectives from Indian Industry and Government of India.
• G 20 is a group of 19 Countries + EU, together representing around 85% of global GDP, 75% of global trade, and 60% of the world’s population. 
• The members of the G20 are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, and the European Union. Indonesia is currently holding the Presidency of G20.
• The dialogue will pave the way to the B20 final summit that will take place on 13-14 November 2022 at Indonesia.

• According to the report, the space-launch segment would grow at a CAGR of 13%, spurred by growing private participation, latest technology adoption and low cost of launch services.
• The satellite services and application segment would form the largest share of the space economy accounting for 36% of the ecosystem by 2025.
• On the country’s satellite-manufacturing opportunity, EY and ISpA said that in 2020, it was $2.1 billion. This would reach $3.2 billion by the year 2025.

Indian Space Association (ISpA)

• Indian Space Association (ISpA), established in December 2020, is the premier industry association of space and satellite companies. Prime Minister Narendra Modi launched the ISpA on October 11, 2021.
• The industry association will act as an independent and “single-window” agency for enabling the opening up of the space sector to start-ups and the private sector, according to the government agenda.

• India has received the fourth set of Swiss bank account details of its nationals and organisations as part of an annual information exchange, under which Switzerland has shared particulars of nearly 34 lakh financial accounts with 101 countries.

Significance of India receiving information from Switzerland

• This is the fourth tranche of information that India has received from Switzerland since the two countries entered into an Automatic Exchange of Information (AEOI) agreement in January 2018. The first such exchange with India took place in 2019.
• In an effort to bring in transparency and restrict money laundering, the Swiss Federal Office has given a detailed account of the massive AEOI 2022 exchange exercise: the country has just concluded its exchange of information with 101 countries; with details of around 3.4 million financial accounts.
• Some countries which have been added to the Swiss AEOI list for the first time are Turkey, Peru and Nigeria. The Swiss Federal Tax Administration office has also informed that with 74 of these 101 countries, the information exchange was reciprocal.

What is the volume, nature of data?

• In 2019, prior to India receiving its first batch of banking information via the AEOI, India would be among 73 countries that would be receiving the data and in their (India’s) case “several dispatches” would be required, giving an indication of the large volume of account holders.
• This time, the Federal Tax Administration has informed that the nature of the financial information includes the name, address, country of residence, tax identification number, information concerning the reporting financial institution, and account balance and capital information, giving an insight into the exact nature of the transmitted data.

Guidelines for exchange of such sensitive banking information

• The guidelines and parameters for the AEOI are set by the Paris-based international body, the Organisation for Economic Co-operation and Development (OECD). The annual exercise of AEOI exchange, such as the current Swiss bonanza of banking details, is strictly meant for “tax only” purposes and in India, kept in the custody of and for action by the Central Board of Direct Taxes (CBDT).
• Under the OECD’s guidelines, no details of the quantum of funds or the names of account holders are to be publicised. In 2014, the OECD developed the Common Reporting Standard (CRS) which allows every country to obtain data from Financial Institutions (FIs) and “automatically” exchange it with countries with which AEOI agreements are in order every year.

What is the scope of India’s AEOI network?

• Under the OECD umbrella of AEOI, India presently shares bulk financial and banking information with 78 countries and receives the same from 107 countries, with Switzerland known to be sharing some of the most voluminous data.
• Due primarily to the large volume of FI data coming in from now 100 countries, the CBDT last year set up a network of Foreign Asset Investigation Units (FAIUs) in 14 of its investigation wings, to which the information of that region which has reached India via the AEOI route is transmitted in a secure manner.
• It is the FAIUs that do the follow-up probe of the FI data, and to begin with, investigate whether the taxpayer has declared the foreign bank account/s in tax returns or not.

• Women and Child Development Ministry will organize National Conference on Skilling in Non-Traditional Livelihood for Girls – Betiyan Bane Kushal in New Delhi.
• The conference will be organized under the Beti Bachao Beti Padhao initiative on the occasion of the International Day of the Girl Child.
• Under the Betiyan Bane Kushal initiative, emphasis will be laid on convergence between Ministries and Departments to ensure the skill development of girls.
• The conference will focus on capacity building and skill development of girls to increase their participation in the professions like science, technology, engineering and mathematics.
• During the event, MoUs will be signed between the Ministry of Skill Development and Entrepreneurship and Ministry of Minority Affairs for Skilling of young Girls for their increased, equal, and empowered participation in the workforce.

• In an attempt to understand the Monsoon Winds and other climatic factors and the ways  in which these natural elements impacted, at different periods of history, the interactions  between different countries in the Indian Ocean region, ‘Project Mausam’ was launched by the Ministry of Culture, Government of India at UNESCO’s 38th World Heritage Committee Meeting held at Doha, Qatar, in 2014. Currently, the Project is being administered by the Archaeological Survey of India (ASI).
• With the objective of promoting further research and broadening our understanding of this  subject, the ASI organized a two-day National Conference at India Habitat Centre, New Delhi on 7^thand 8^th October, 2022.
• Christened “Jaladhipurayatra”: Exploring Cross- Cultural Linkages along the Indian Ocean Rim Countries”, the Conference incorporated manifold aspects of maritime exchanges and interactions.
• The Conference consists of a Plenary Session followed by six Academic Sessions, each dealing with a particular aspect of India’s maritime interactions.

• Former Federal Reserve chief Ben Bernanke along with Douglas Diamond and Philip Dybvig won the 2022 Nobel Economics Prize “for research on banks and financial crises”.
• “Ben Bernanke in a paper from the 1983 showed with statistical analysis, and historical sources, that bank runs led to bank failures and this was the mechanism that turned a relatively ordinary recession into the depression in the 30s, the world’s most dramatic, and, severe crisis that we have seen in the modern history,” said John Hassler, member of committee for the Nobel Prize for Economics.
• The US trio joins such luminaries as Paul Krugman and Milton Friedman, previous winners of the prize.
• The majority of previous laureates have been from the US. Only two women have ever won, Elinor Ostrom in 2009 and Esther Duflo in 2019.
• The economics prize is not one of the original five awards created in the 1895 will of industrialist and dynamite inventor Alfred Nobel.

• The World Health Organisation recognises World Mental Health Day on 10 October every year.
• The theme of 2022’s World Mental Health Day, set by the World Federation for Mental Health, is ‘Make mental health and wellbeing for all a global priority‘.
• With the mental health treatment gap across 11 South East Asian nations, including India, estimated at 70 to 95 per cent, the government launched a toll-free, 24×7 helpline to cater to the rising demand for counselling services and guidance.
• The helpline number 14416 has been set up across the country and will allow callers to select the language of choice. The service, also accessible with 1-800-91-4416, launched at the National Institute of Mental Health and Neurosciences (NIMHANS), Bengaluru, under the Tele Mental Health Assistance and Networking Across States (Tele-MANAS) initiative of the Ministry of Health.
• The launch coincided with WHO urging member states in the South-East Asia region to intensify action to ensure access for all to quality mental healthcare, in line with the recently adopted Paro Declaration on universal access to people-centred mental healthcare and services.
• Globally, before the Covid pandemic, around one in eight people lived with a mental health condition. Gaps in treatment were unacceptably large, especially in low- and middle-income countries.
• “In South-East Asia, an estimated one in seven people lived with a mental health condition, and in countries where data are available, the treatment gap ranged from 70–95 per cent. The Covid crisis has impacted almost all areas of health, but a few as profoundly as mental health,” WHO SEARO Regional Director Poonam Khetarpal Singh said.
• She said in 2020, cases of major depressive disorder were estimated to have increased by more than 27 per cent globally, and cases of anxiety disorders by more than 25 per cent. “In many countries, this occurred alongside widespread disruptions to mental health services.
• Between November and December 2021, more than 33 per cent of WHO member states globally reported ongoing disruptions to mental, neurological and substance use services.

• Union Minister of Youth Affairs and Sports Shri Anurag Singh Thakur has inaugurated a Water Sports Center in Koldam Barmana, Bilaspur, Himachal Pradesh.
• The centre will be dedicated to training athletes in water sports like Rowing, Canoeing and Kayaking.
• The Minister said, 40 players will be chosen who will take part in Rowing, Kayaking and Canoeing. There are state of the art equipments and boys and girls will get hostel and training facilities.
• The Water Sports Centre, the very first of its kind in Himachal Pradesh, has been jointly initiated by the Sports Authority of India (SAI) and National Thermal Power Corporation (NTPC).
• The Memorandum of Understanding (MoU) was also exchanged between SAI and NTPC during the event.

• To create cybersecurity awareness among all employees, Indian Renewable Energy Development Agency Ltd. (IREDA) observed the “Cyber Jaagrukta Diwas”.
• It is observed on first Wednesday of every month.
• Shri Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA, inaugurated the event.
• Cyber Jaagrukta Diwas is an initiative launched by the Ministry of Home Affairs that requires all government organizations to spread cybersecurity awareness.
• The purpose is to create awareness and sensitize the Internet users on safeguarding against cyber frauds and cybercrimes.

• Four engineer friends have claimed to have innovated a giant swing backed by Artificial Intelligence (AI) which will provide an “impeccable” security to the jumpers with more than 100 “jump styles”.
• The swing was built under a startup incubated at Indian Institute of Technology (IIT), Mandi, and is claimed to be a first-of-its-kind in the world.
• Founded by four childhood friends who are also certified rock climbers and mountaineers, ‘ManaliSwing’ has completed its human jump trials and is in the process of filing patents — five in number — for concept and design.
• The team plans to launch the swing in Manali on coming New Year.
• One of the team’s members claimed that it has already been approached by the Dubai government to launch the swing in the country and is in conversation with interested agencies in Switzerland too.
• Soni said that the swing allows one to perform 100 possible jump styles with a 70-metre-free fall secured by AI.
• The plan is to launch it in Manali on New Year. The tourists will have to pay Rs 3,000 for each jump. The cost will include transportation from a certain point and professional photography and videography service,” he added.
• The startup conducted a full-scale trial of 1,000 dummy jumps followed by human jumps, all successful, under the presence of Industrial Rope Access Trade Association experts at IIT Hyderabad, the team member said.
• “The AI will also help track participants and Jump Master’s performance across millions of data points and deliver optimised approvals for jumping.
• Having a really intelligent AI will be an edge for a Jump Master and his team in ensuring no injury, incident, or causality happens on the site. For example, AI will not approve the jump if there is anything wrong with the jump protocol or international standards,” he said.
• The team, which has plans to launch a second swing in Goa and then take the technology to other countries, rued Indians’ dwindling interest in adventure sports, despite an increase of 178 per cent in adventure activity globally in the last three years.
• India, despite being the world’s youngest country with 50 per cent population below 25, stands at 96th position in global Adventure Tourism Competitive Index (ATDI) 2020. That too is consistently decreasing since the last four years. India ranks much lower than its neighbours, Bhutan (14th), and Nepal (67th).
• The project which was conceptualised five years back was commercially registered last year as a startup.