Current Affairs in Short: 4 July 2022

Chinese real estate developers accepting watermelons as down payment

• Chinese real estate companies in third and four-tier cities have started accepting down payments for homes in watermelons and other agricultural produce. 
• These companies are encouraging home buyers to pay a part of their down payment with wheat and garlic. 
• This has come as a result of deep recession in China's property market, which was earlier one of the few cherished destinations for household savings.
• The developers and homebuyers were earlier willing to take loans from the banks to buy homes but the situation has taken a downturn after household debt touched over USD 10 trillion. 

NCP's Ajit Pawar to be Leader of Opposition in Maharashtra's Legislative Assembly

• NCP's Ajit Pawar will be the leader of the opposition in the Maharashtra Legislative Assembly. His name was proposed by NCP Legislative party leader Jayant Patil and was approved by the Assembly. Ajit Pawar is NCP Chief Sharad Pawar's nephew. 
• Ajit Pawar is a one-time MP from Baramati and a seven-time MLA from Baramati. 
• Pawar was the deputy Chief Minister of Maharashtra under the Uddhav Thackeray government. 
• This comes after the Eknath Shinde-led government won the trust vote in the Maharashtra Assembly with 164 votes. 

VVS Laxman likely to coach India in first T20I against England 

• Former India cricketer VVS Laxman is likely to coach the Indian team in the first T20I against England in Southampton.
• Laxman is currently serving as the chief of the National Cricket Academy (NCA). 
• He had recently accompanied Team India as its head coach during the two-match T20I series against Ireland on July 26 and July 28, which India won 2-0.
• Laxman had accompanied the team as the head coach, as the regular Indian head coach Rahul Dravid was with India's Test squad in England.

NTPC Renewable Energy Limited signs MOU with Rajasthan Government 

• The NTPC Renewable Energy Limited (NTPC REL), which is a wholly-owned subsidiary of NTPC has signed a Memorandum of Understanding (MOU) with the Rajasthan Government for the development of 10 GW Ultra Mega Renewable Energy Power Park in the state. 
• The agreement was signed on July 1, 2022 at Jaipur in the presence of Rajasthan Energy Minister Bhanwar Singh Bhati.
• The MOU marks another step towards achieving NTPC Group's Renewable Capacity addition targets. The group has set its target of 60 GW Renewable energy capacity by 2032.

Indian Naval Squadron Commissioned at Visakhapatnam

• Indian Naval Air Squadron 324 was commissioned into the Indian Navy on July 4, 2022 at an impressive commissioning ceremony held at INS Dega, Visakhapatnam. 
• The squadron has been named "Kestrels" which are birds of prey and have good sensory capabilities symbolising the envisaged role of the Air Squadron.  The main role of the squadron would be search and rescue. 
• INAS 324 will be commanded by Cdr SS Dash, who is an accomplished ALH Qualified Flying Instructor with extensive operational experience.
• The unit is the first Indian Naval Squadron on the Eastern Seaboard that will operate the indigenously designed and built Advanced Light Helicopter (ALH) MK III (MR) helicopters.

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