Debit-Card-PIN-Guidelines
1) Which practice has been made compulsory from 1 December, 2013 with regard to use of debit card at retail outlets? – Mandatory punching of debit card PIN number after swiping (This is intended to make bank debit card transactions more secure. In June 2013, the Reserve Bank of India (RBI) had extended the deadline for implementation of mandatory PIN punching at Point-of-Sales (PoS) and merchant outlets till 30 November, 2013 following representation of banks. According to the report of a RBI working group early cases of domestic counterfeit and skimming are being observed as far as debit cards are concerned. Card skimming is the illegal copying of information from the magnetic strip of a credit/debit card)
2) In a major milestone in India’s space history, ISRO’s Mars Orbiter mission on 1 December, 2013 ventured out of Earth’s sphere of influence to begin its 300-day journey to Mars. What is this manoeuvre named, in which the Mars Orbiter ‘Mangalyaan’ teared itself away from Earth’s gravitational pull to begin its 680-million Km journey to the red planet? – “Trans-Mars Injection” (During this manoeuvre, the spacecraft’s 440 Newton liquid engine was fired for about 22 minutes providing a velocity increment of 648 meters/second to the spacecraft)
3) Insurance giant Life Insurance Corporation (LIC) recently decided to stop selling 34 policies, including popular policies like Jeevan Anand, Jeevan Madhur and Jeevan Saral during December 2013. What is the main reason for this decision of LIC? - To comply with new regulatory guidelines (These policies are not in conformity with the provisions of new regulations on non-linked insurance products, linked insurance products and health insurance products. The Insurance Regulatory and Development Authority (IRDA) had extended the deadline for implementation of new individual product regulations for the life insurance industry by three months to 31 December 2014. The new guidelines are aimed at making insurance policies more customer-friendly)