Current Affairs 18th and 19th November 2018: Daily GK Update

i. French President Emmanuel Macron and Morocco’s King Mohammed VI have inaugurated Morocco’s first high-speed rail line, the first ever such line in Africa. The $2 billion project was launched in September 2011 by the king and Nicolas Sarkozy, then president of France.
ii. Known as the LGV, it will connect the economic hubs of Tangier and Casablanca in 2 hours 10 minutes at a speed of up to 320 kph (199 mph) instead of almost 5 hours on a regular train.

Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:

• Morocco Capital: Rabat, Currency: Moroccan dirham.

i. The Appointments Committee of the Cabinet appointed Unique Identification Authority of India (UIDAI) CEO Ajay Bhushan Pandey as the new revenue secretary. He will succeed current Finance and Revenue Secretary Hasmukh Adhia.
ii. Mr Adhia is retiring on November 30. Mr Pandey will continue to hold the charge as the CEO of UIDAI and GSTN Chairman until further orders.

9. Oracle Veteran Thomas Kurian To Head Google Cloud 

i. Oracle’s ex-product chief Thomas Kurian will head Google’s cloud division. He will replace Diane Greene.
ii.  Kurian will join Google Cloud on November 26 and transition into the leadership role in early 2019.

• The government in July 2018 has proposed a five-pronged strategy under Project Sashakt to tackle stress in the banking sector, and had formed a panel led by Sunil Mehta.
• Under the project, the committee had to float an AMC and an AIF to resolve non-performing assets (NPAs) over Rs 500 crore. 

i. Karnataka Bank has launched a special campaign for opening current account and savings accounts (CASA). The campaign will remain in force for a period of three-and-a-half months from November 15 to February 28.
ii. It has been introduced as introduced as a new SB scheme ‘KBL SB – TASC’ a specialized product for Trusts/Associates/Societies/Clubs. Bank intends to open more than 4.18 lakh Current & Savings accounts by the active involvement of its 8000 plus workforce in all the 823 branches across India.

Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:

• Karnataka Bank Headquarters: Mangalore, Tagline: Your Family Bank, Across India. 

12. Myntra, Jabong To Merge; A Narayanan Will Continue As CEO 

i. Online fashion retailer Myntra will integrate its sister firm Jabong with itself and the integrated firm will continue to be led by Myntra CEO Ananth Narayanan. The two will, however, continue to operate as separate brands.
ii. Flipkart had acquired Myntra in 2014 and Myntra had acquired Jabong in 2016. The company said since Myntra’s purchase of Jabong, the two brands have been steadily integrating key business functions and streamlining processes.