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Important Facts For Prelims

Important Facts for Prelims (9th January 2019)

  • 09 Jan 2019
  • 3 min read

Tokenization service

  • The Reserve of India (RBI) has allowed all card payment networks to offer tokenization service.
  • No charges should be recovered from the customer for availing this service.
  • Tokenization involves a process in which a unique token masks sensitive card details. The token is then used to perform card transactions in contact-less mode at Point Of Sale (POS) terminals, Quick Response (QR) code payments, etc.
  • The RBI has allowed card payment networks to offer card tokenization services to any token requestor, that is, a third-party app provider. It extends to all use cases/channels [e.g., Near-Field Communication (NFC) / Magnetic Secure Transmission (MST)-based contact-less transactions, in-app payments, QR code-based payments etc.] or token storage mechanisms (cloud, secure element, trusted execution environment etc.).
  • All parties involved in the “payment transaction chain” will have to be registered with the central bank.
  • A cardholder can avail of these services by registering the card on the token requestor’s app and after giving ‘explicit consent’.

NASA Discovers a New Planet

  • NASA has discovered a new planet HD 21749b orbiting a dwarf star about 53 light-years away in the constellation of Reticulum.
  • This is the third new planet discovery by the Transiting Exoplanet Survey Satellite (TESS).
  • HD 21749b revolve around its star in 36 days. The planet is about three times the size of the earth, which puts it in the category of a “sub-Neptune.”
  • The other two planets discovered by TESS are Pi Mensae C located about 60 light-years away in the southern constellation Mensa and LHS3884b located about 49 light-years away in the constellation Indus.

#WebWonderWomen

  • Twitter India and Ministry of Women and Child Development, in partnership with human rights organization Breakthrough, has launched the campaign #WebWonderWomen to celebrate Indian women achievers.
  • Under the campaign, people can nominate their favourite Indian woman achiever with her Twitter handle, anywhere in the world.
  • The women can be nominated under the following categories: health, media, literature, art, sports, tech, travel, business, legal/policy, governmental, entertainment, fashion/beauty, finance, food and environment.
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