Indian Air Force To Participate In Tactical Leadership Program With Egyptian Air Force

• Indian Air Force (IAF) announced that 3 Su-30 MKI planes and 2 C-17 transport aircraft are participating in a month-long tactical leadership program in Egypt.
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• According to the statement, the exercise gives a singular chance to highlight the Indian Air Force`s capabilities and reach against the backdrop of the current geopolitical situation. 
• In Egypt, the IAF would send 3 Su-30MKI aircraft, 2 C-17 aircraft, and 57 IAF personnel to the Egyptian Air Force Weapon School to participate in a tactical leadership program.
• This specific exercise, which simulates many conflict situations using air assets in a big force engagement context, is unique. 
• The exercise aims to improve defense cooperation between the 2 nations and exchange best practices. 
• The IAF stated that the initiative would also give a chance to display the Su-30 MKI made in India and the nation`s proficiency for further indigenization of spare parts and components.

The Indian Coast Guard has formed the 840 CG Advanced Light Helicopter Squadron.

• A new air squadron, 840 Squadron, was established in the Indian Coast Guard in Chennai, with an Advanced Light Helicopter Mark-III aircraft as its 1st aircraft. 
• In the presence of the Commander of the Eastern Coast Guard Region, Inspector General AP Badola, the aircraft was welcomed with the usual water cannon salute. 
• This is the 1st time the defence force has deployed such a plane in the eastern region.
• According to the Coast Guard, 3 more ALH aircraft will also be added to the new Squadron’s inventory in the near future.

Dhan Sanchay, a new life insurance product, was introduced by LIC.

• The Life Insurance Corporation of India introduced Dhan Sanchay, a non-linked, non-participating individual savings life insurance plan that gives both savings and protection. 
• This plan would give financial support to the family if the life assured dies prematurely during the policy’s term. 
• It provides a guaranteed income stream from the date of maturity to the conclusion of the payout period, according to a LIC press release.
• The first 2 alternatives need a minimum Sum Assured of Rs.3,30,000/-, the 3rd option needs a minimum Sum Assured of Rs.2,50,000, and the 4th option needs a minimum Sum Assured of Rs.22,00,000.

RBI`s `Payments Vision 2025` Aims For A 3-Fold Increase In Digital Payments

• According to industry players, the Reserve Bank`s Payments Vision 2025 plan wants to triple the volume of digital payments and is progressive. 
• It intends to build India as a worldwide payments powerhouse.
• In light of rising geopolitical threats, the Reserve Bank of India released its Payments Vision 2025 document, which discusses ring-fencing domestic payment networks, and the necessity to implement domestic processing of payment transactions.

Neeraj Chopra To Lead Athletics Team For CWG 2022

• The Athletics Federation of India announced Neeraj Chopra is to lead a 37-member Indian athletics team at the upcoming Commonwealth Games.
• The Tokyo Olympics gold medallist would be the flag bearer in Birmingham as star sprinters like Dutee Chand and Hima Das booked their berth for the Games that will be held from July 28 – August 8.
• The selection committee chose all the expected athletes for CWG with zero surprises. 
• Out of 37 members, eighteen are women. The star sprinters Dutee Chand and Hima Das reserved their berths in the women`s 4x100m relay team. The selectors named a men`s 4x400m relay team. Amoj Jacob has been chosen for the men`s 4x400m relay team.

For Farmer Schemes, the Karnataka Government has launched the `Fruits` Software.

• The Karnataka government has launched The Farmer Registration & Unified Beneficiary Information System software for Aadhar-based, single-window registration for the schemes. 
• FRUITS software facilitates single registration using an Aadhar card and Karnataka’s Bhoomi digitized land record system for authenticating ownership.
• Through the single digital identity creation through FRUITS, farmers will be able to access benefits of hosts of schemes like Direct Benefit Transfer under PM Kisan, payment for Minimum Support Prices for crops, caste certificate authentication, and special financial assistance, and ration cards. 
• To confirm that the farmers get easy access to benefits distributed under various government schemes, the Karnataka government launched software for Aadhar-based, single-window registration for the schemes. 
• The state departments of horticulture, agriculture, animal husbandry, revenue, civil supplies, food, and fisheries departments of the state government are covered under the initiative.

India will have 5G services by March 2023, according to Ashwini Vaishnaw.

• Ashwini Vaishnaw, the Union Communications Minister, announced at the Viva Technology 2022 event that by March 2023, India would have full-fledged 5G services. 
• Vaishnaw said that the 5G spectrum auction would be concluded by the end of July.
• Vaishnaw added that Telecom is the key source of digital consumption, and it is very important to introduce trusted solutions in Telecom.

Tamil Nadu launched the Ennum Ezhuthum Scheme to reduce the learning gap.

• MK Stalin, the Tamil Nadu Chief Minister, launched the Ennum Ezhuthum scheme to bridge the learning gap caused by the COVID pandemic among students below eight. 
• The strategy aims to ensure foundational literacy and numeracy by 2025. It was launched at an event that took place in Azhinjivakkam panchayat union middle school, Tiruvallur.

• The education department will be distributing workbooks to students from Classes 1 to 3 to bridge the learning gap.
• Last week, a training programme was conducted for teachers and handbooks were distributed.
• Teachers were suggested to opt for interactive learning methods and encourage students to read books and newspapers in the school library.
• A slew of programmes and schemes has been announced by the State government for the academic year 2022-23, aiming to improve the quality of education in the State.
• The children will be trained in 3 subjects – Tamil, Mathematics, and English in a classroom suitable for conducting lessons.

Queen Elizabeth II surpasses Queen Elizabeth I as the world`s second-longest-reigning monarch.

• Elizabeth II overtook Thailand`s King and became the world`s 2nd-longest-reigning monarch in history, after France`s Louis XIV. 
• The UK has been celebrating the Queen`s Platinum Jubilee to mark 70 years of service to the nation. 
• After 4 days of royal and street parades, pageantry, and other events held across the UK and the Commonwealth to celebrate the Platinum Jubilee milestone.
• Queen Elizabeth II was crowned in 1953 and became the longest-serving British monarch in September 2015, surpassing Queen Victoria, her great-great. 
• Now, Queen Elizabeth II has overtaken Bhumibol Adulyadej, Thailand`s King, who reigned for 70 years and 126 days between 1927 and 2016.
• Louis XIV of France is the longest-reigning monarch, with a 72-year and 110-day reign from 1643 until 1715.

The Azerbaijan Grand Prix 2022 was won by Max Verstappen.

• Red Bull’s Max Verstappen is the winner of the Azerbaijan Formula One Grand Prix 2022 (his 5th victory of the season). 
• In the process, Max became the most triumphant driver in the Red Bull of all time. 
• Red Bull’s Sergio Perez came 2nd, and Mercedes’ George Russell came at the 3rd spot.
• Max Verstappen had one of the best races in his season, finishing on the podium after beginning from number 3. 
• Max has 66 podiums for Red Bull and is tied 9th for the most race wins alongside Niki Lauda and Jim Clark.

The Azerbaijan Grand Prix 2022 was won by Max Verstappen.

• Red Bull’s Max Verstappen is the winner of the Azerbaijan Formula One Grand Prix 2022 (his 5th victory of the season). 
• In the process, Max became the most triumphant driver in the Red Bull of all time. 
• Red Bull’s Sergio Perez came 2nd, and Mercedes’ George Russell came at the 3rd spot.
• Max Verstappen had one of the best races in his season, finishing on the podium after beginning from number 3. 
• Max has 66 podiums for Red Bull and is tied 9th for the most race wins alongside Niki Lauda and Jim Clark.

Vision Statement on Defense Cooperation between India and Israel

• military cooperation
• strategic global challenges
• joint Research and Development
• defence industrial cooperation
• The ministers also discussed a cooperation agreement that was signed between the Indian Defence Research and Development Organisation (DRDO) and Israel’s Directorate for Defence R&D. This agreement will help enable the expansion of developmental and technological collaboration between both nations. Also, the Ministers discussed partnerships about:
• military training
• defensive capabilities
• technological cooperation focusing on Unmanned Aerial Vehicles (UAV)

Mukesh Ambani is the richest man in Asia, according to Bloomberg Billionaires.

• Mukesh Ambani regained the position of India and Asia`s richest man, replacing Adani Group Chairman Gautam Adani. 
• Mukesh Ambani has a net worth of $99.7 billion and added $9.69 billion in 2022, according to the Bloomberg Billionaires Index.
• On the global billionaire list, Mukesh Ambani is followed by Gautam Adani. Adani is ranked 9th with a net worth of $98.7 billion in the Bloomberg Billionaire index.

In the midst of the crisis, the UN will provide $48 million in humanitarian aid to Sri Lanka.

• The United Nations planned to give humanitarian assistance of about $48 million over a 4-month period to Sri Lanka. 
• Since January, New Delhi’s financial assistance has been worth over $3 billion to give essential items, including fuel, food, cooking gas, and medicines. 
• Sri Lanka now needs $6 billion to keep the country afloat for the next 6 months, adding that $5 billion is needed to ensure day-to-day living and $1 billion to strengthen the Sri Lankan rupee.
• Sri Lanka is almost bankrupt, having suspended repayment of its foreign loans. Its foreign reserves are nearly spent, which has limited imports and caused severe shortages of essential items.