Notes:
The Indo-US Science and Technology Forum (IUSSTF) launched the US India Artificial Intelligence (USIAI) initiative, in the presence of the Department of Science & Technology Secretary.
IUSSTF is a bilateral organisation established by the two countries in 2000, to promote Science, Technology and innovation through mutual interactions. Under the USIAI initiative, new R&D areas and opportunities will be identified.

Notes:
The Indian Navy inducted a landing craft utility ship L58 at an event in Port Blair. It is the eighth and last of the landing craft utility (LCU) mark-IV class ship.
The ship was indigenously designed and built by state-run Garden Reach Shipbuilders and Engineers Ltd (GRSE), Kolkata. It will be used for several activities like transporting battle tanks and heavy weapons systems.

Notes:
Indian Navy carried out Passage Exercise (PASSEX) with Royal Bahrain Naval Force in the Persian Gulf under Operation Sankalp.
PASSEXs are conducted regularly by the Indian Navy with the navies of friendly foreign countries. Maritime Security Operations, code-named Op Sankalp were initiated in the Gulf in 2019.

Notes:
The Insurance (Amendment) Bill, 2021 was approved by the Rajya Sabha recently. It seeks to increase foreign direct investment limit in the insurance sector to 74 per cent from the current 49 per cent.
As per the bill, majority of those in board of directors and key management persons would be resident Indians, with at least 50 per cent of directors being independent directors.

Notes:
NITI Aayog has partnered with IT major Amazon Web Services (AWS) to train students on the fundamentals of cloud computing through Atal Tinkering Labs.
Under the program, AWS will introduce the concepts of cloud computing such as cloud storage, web hosting, artificial intelligence (AI), machine learning (ML), and virtual reality (VR) to students.