THE HINDU EDITORIAL : JANUARY 2, 2019
THE HINDU EDITORIAL : JANUARY 2, 2019
Dear Banking Aspirants,
THE HINDU EDITORIAL – January 2, 2018, is one of the must-read section for the competitive exams like IBPS Clerk 2018 Mains Exam, Canara Bank PO – PGDBF 2018 and IBPS SO 2018. These topics are widely expected to be asked in the reading comprehension, Cloze Test or Error Detection in the forthcoming exams. So gear up your Exam preparation and learn new words daily.
A) On Elizabeth Warren’s U.S. presidential bid: Democratic hope?
Elizabeth Warren makes the first move towards a U.S. presidential bid
Elizabeth Warren, Democratic Senator of Massachusetts, has announced her likely candidacy for the 2020 U.S. presidential race. In her statement she put racial and gender-based inequality front and centre in her campaign agenda, as much as income inequality faced by the middle class. For these ills of the American economy, she blamed the excesses of under-regulated Wall Street corporations and billionaires with the money muscle to bend political rules. Although Ms. Warren, who won a second six-year Senate term in November, had declined to enter the 2016 general election and challenge Hillary Clinton in the Democratic primary, she made a name for herself as a top-tier Democrat by taking on President Donald Trump, describing him as a “thin-skinned racist bully”. However, she attracted criticism for an unnecessary controversy over taking a DNA test to establish her Native American heritage, after Mr. Trump used racist epithets to provoke and smear her ethnic antecedents. Notwithstanding that blip, the former Harvard law professor, who hails from a blue-collar background in Oklahoma, has repeatedly underscored her credentials as a champion of multiracial populism. Over the past year she has sharpened her attack on Mr. Trump’s politics, arguing that he deflects attention from the impact of his divisive policies on ordinary American families and instead blames “other working people, people who are black, or brown, people born somewhere else.”
Despite the considerable achievements of Ms. Warren, who had not held public office before 2013, the obstacles ahead for her proposed presidential run are formidable. First, the general expectation is that the field for the Democratic nomination will widen considerably over through 2019, given that more than three dozen Democratic candidates-in-the-making are said to be considering joining the race, several of them for the first time. Some, such as Kamala Harris of California or Cory Booker of New Jersey, could hold stronger appeal with millennial voters and people of colour. Second, it is hard to predict how Ms. Warren will fare against self-professed Democratic socialist candidate Bernie Sanders, or Senator Sherrod Brown of Ohio, both economic populists who could hypothetically cut into her share of voters of a similar ideological persuasion. Finally, the risk of pursuing a populist theme from the centre-left of the political spectrum is that she would be an easy target for Mr. Trump and conservatives, who are likely to deride her as an out-of-touch liberal academic and a threat to free enterprise. Nevertheless, as a candidate for the nation’s highest office, Ms. Warren’s ideological moorings are set. It is not inconceivable that, given how bitterly polarised the electorate is today, Ms. Warren’s bold liberalism could offer hope to millions of voters dismayed at what Mr. Trump has done to their nation.
B) Signs of a turnaround: on RBI’s Financial Stability Report
Regulatory vigil should not ease after the half-yearly decline in banks’ gross NPA ratio
The fog of bad loans shrouding the banking sector appears to be lifting after a long period of sustained stress. The Reserve Bank of India’s Financial Stability Report reveals the first half-yearly decline in the ratio of gross non-performing assets (GNPA) to advances since September 2015. The ratio across all scheduled commercial banks has eased to 10.8% as of end-September 2018, from 11.5% in March, with both public sector and private sector lenders posting drops in the key indicator of bad loans. A stress test for credit risk at banks that models varying levels of macro-economic performance shows that for the baseline assumption, the GNPA ratio would narrow to 10.3% by March 2019. This prompted RBI Governor Shaktikanta Das to prognosticate that the sector “appears to be on course to recovery”. Still, state-owned banks continue to have higher levels of bad loans than their private sector peers and are projected to show slower improvements over the second half of the fiscal. The GNPA ratio for public sector banks (PSBs) is posited to only inch lower to 14.6% by March, from 14.8% in September. One reason is that PSBs have a disproportionately higher share of bad loans from among large borrowers, who accounted for almost 55% of loans advanced by all banks as of September. The GNPA ratio for this category at PSBs was 21.6%, compared with just 7% at private banks.
Interestingly, the RBI’s Prompt Corrective Action (PCA) framework, which attracted criticism including from a government appointee on the central bank’s board, has significantly helped lower contagion risk to the banking system. A contagion analysis that assumes there would be no sovereign guarantee provided for the 11 PSBs placed under the PCA curbs, in the event of a simultaneous failure, projects that solvency losses due to such failure have more than halved over the four quarters ended September: to ₹34,200 crore (3.1% of total Tier-1 capital) from ₹73,500 crore (6.8% of total Tier-1 capital). Data on banking frauds are also a cause for concern. Close to 95% of the frauds reported in the six months ended September were credit-related, with PSBs again bearing the brunt of mala fide intent on the part of borrowers. The RBI’s report has justifiably spotlighted the urgent need to tighten the oversight framework for financial conglomerates in the wake of the IL&FS meltdown, which continues to ripple across the financial system, including at mutual funds and non-banking financial companies. As Mr. Das said in his foreword, “…the recent developments in NBFCs have underscored the need for greater prudence in risk-taking.” Regulators and policymakers need to work together to insulate the economy from the risks of similar fiascos.
Meaning : divide into two parts of equal or roughly equal size(v).
Tamil Meaning : பாதியாக
Synonyms : bisect
Antonyms : combine
Example : “halve the aubergine lengthways”
Meaning : the fact or condition of standing for a position or status, especially in an election(n).
Synonyms : nomination
Antonyms : voter
Example : “he’s going to announce his candidacy for the US Senate”
Meaning : on the grounds of or connected with difference in race.(adj)
Synonyms : national
Antonyms : international
Example : “racial abuse”
Meaning : feel or declare that (someone or something) is responsible for a fault or wrong(v).
Tamil Meaning : குற்றம் சாட்டினார்
Synonyms : accursed
Antonyms : acquitted
Example : “the inquiry blamed the train driver for the accident”
Meaning : a curve in a road, river, path, or racing circuit.(n)
Synonyms : bow
Antonyms : stagnation
Example : “the van screeched round a bend”
Meaning : prolonged public disagreement or heated discussion.
Tamil Meaning : சர்ச்சை
Synonyms : bickering
Antonyms : concurrence
Example : “the design of the building has caused controversy”
Meaning : a person who shows or feels discrimination or prejudice against people of other races, or who believes that a particular race is superior to another.
Synonyms : biased
Antonyms : fair
Example : “I had a fear of being called a racist”
Meaning : an adjective or phrase expressing a quality or attribute regarded as characteristic of the person or thing mentioned.(n)
Tamil Meaning : அடைமொழி
Synonyms : description
Example : “old men are often unfairly awarded the epithet ‘dirty’”
Meaning : stimulate or give rise to (a reaction or emotion, typically a strong or unwelcome one) in someone(v).
Tamil Meaning : தூண்ட
Synonyms : enrage
Antonyms : appease
Example : “the decision provoked a storm of protest from civil rights organizations”
Meaning : coat or mark (something) messily or carelessly with a greasy or sticky substance.(v)
Synonyms : besmirch
Antonyms : collect
Example : “his face was smeared with dirt”
Meaning : relating to a population subgroup (within a larger or dominant national or cultural group) with a common national or cultural tradition(adj).
Synonyms : indigenous
Antonyms : avoidant
Example : “ethnic and cultural rights and traditions”
Meaning : a feeling of expectation and desire for a particular thing to happen.(n)
Tamil Meaning : நம்புகிறேன்
Synonyms : ambition
Antonyms : dislike
Example : “he looked through her belongings in the hope of coming across some information”
Meaning : (of a large number of objects) fall or be hurled forcefully.(v)
Synonyms : barrage
Antonyms : avoidant
Example : “missiles and bombs hail down from the sky”
Meaning : tending to cause disagreement or hostility between people(adj).
Tamil Meaning : பிரிவினை
Synonyms : disruptive
Example : “the highly divisive issue of abortion”
Meaning : as an alternative or substitute.(adv)
Tamil Meaning : பதிலாக
Synonyms : rather
Antonyms : unmitigated
Example : “do not use lotions, but put on a clean dressing instead”
Meaning : contemptuous treatment or behaviour; outrage.(n)
Tamil Meaning : இருந்தபோதிலும்
Synonyms : against
Antonyms : exalt
Example : “the despite done by him to the holy relics”
Meaning : put forward (a plan or suggestion) for consideration by others(v).
Tamil Meaning : முன்மொழியப்பட்ட
Synonyms : expected
Antonyms : rejected
Example : “he proposed a new nine-point peace plan”
Meaning : inspiring fear or respect through being impressively large, powerful, intense, or capable(adj).
Tamil Meaning : வல்லமைமிக்க
Synonyms : daunting
Antonyms : trivial
Example : “a formidable opponent”
Meaning : make or become wider.(v)
Tamil Meaning : விரிவுபடுத்தும்
Synonyms : broaden
Antonyms : compress
Example : “we should widen the scope of our investigation”
Meaning : make a serious, urgent, or heartfelt request(v).
Tamil Meaning : முறையீடு
Synonyms : claim
Antonyms : answer
Example : “police are appealing for information about the incident”
Meaning : say or estimate that (a specified thing) will happen in the future or will be a consequence of something(v).
Tamil Meaning : கணிக்க
Synonyms : anticipate
Antonyms : ignore
Example : “it is too early to predict a result”
Meaning : (of a quality, feeling, or belief) claimed openly but often falsely.(adj)
Tamil Meaning : ரீதியான
Synonyms : stated
Example : “for all her professed populism, she was seen as remote from ordinary people”
Meaning : the action or process of persuading someone or of being persuaded to do or believe something.(n)
Tamil Meaning : தூண்டல்
Synonyms : seduction
Antonyms : disability
Example : “Monica needed plenty of persuasion before she actually left”
Meaning : follow or chase (someone or something).(v)
Tamil Meaning : துரத்துகின்ற
Synonyms : ensuing
Antonyms : preceding
Example : “the officer pursued the van”
Meaning : a person who is averse to change and holds traditional values(v).
Tamil Meaning : பழமைவாத
Synonyms : timid
Antonyms : inconstant
Example : “he remains a conservative in constitutional matters”
Meaning : express contempt for; ridicule(v).
Tamil Meaning : ஏளனம்
Synonyms : disdain
Antonyms : admire
Example : “the decision was derided by environmentalists”
Meaning : not capable of being imagined or grasped mentally; unbelievable.(adj)
Synonyms : improbable
Antonyms : believable
Example : “it seemed inconceivable that the president had been unaware of what was going on”
Meaning : cause (someone) to feel concern and distress(v).
Tamil Meaning : கலங்கி
Synonyms : agitate
Antonyms : appease
Example : “they were dismayed by the U-turn in policy”
Meaning : cover or envelop so as to conceal from view(v).
Tamil Meaning : மூடப்படுதல்
Synonyms : belie
Antonyms : clarify
Example : “mountains shrouded by cloud”
Meaning : continuing for an extended period or without interruption(adj).
Tamil Meaning : நீடித்த
Synonyms : constant
Antonyms : ending
Example : “several years of sustained economic growth”
Meaning : make (previously unknown or secret information) known to others(v).
Tamil Meaning : வெளிப்படுத்த
Synonyms : affirm
Antonyms : conceal
Example : “Brenda was forced to reveal Robbie’s whereabouts”
Meaning : (of an event or fact) cause or bring about (an action or feeling)(v).
Tamil Meaning : தூண்டியது
Synonyms : arouse
Antonyms : calm
Example : “the violence prompted a wave of refugees to flee the country”
Meaning : foretell or prophesy (a future event)(v).
Tamil Meaning : வருவது
Synonyms : augur
Example : “the economists were prognosticating financial Armageddon”
Meaning : look with difficulty or concentration at someone or something(v).
Tamil Meaning : கூர்ந்து
Synonyms : associate
Antonyms : inferior
Example : “Faye peered at her with suspicion”
Meaning : the communication of disease from one person or organism to another by close contact(n).
Tamil Meaning : பகிர்தலின்
Synonyms : contamination
Antonyms : purification
Example : “the rooms held no risk of contagion”
Meaning : a check or restraint on something(n).
Tamil Meaning : தடை
Synonyms : barrier
Antonyms : freedom
Example : “plans to introduce tougher curbs on insider dealing”
Meaning : the possession of assets in excess of liabilities; ability to pay one’s debts.
Tamil Meaning : கடன்தீர்வு
Synonyms : wealth
Example : “the company was confident that solvency could be maintained”
Meaning : a person’s way of standing or moving(n).
Synonyms : demeanor
Antonyms : irrelevance
Example : “a man of precise military bearing”
Meaning : the quality of being prudent; cautiousness(n).
Tamil Meaning : மதிநுட்பம்
Synonyms : austerity
Antonyms : ignorance
Example : “we need to exercise prudence in such important matters”
Meaning : protect (something) by interposing material that prevents the loss of heat or the intrusion of sound.
Tamil Meaning : காப்பிடு
Synonyms : seclude
Antonyms : mingle
Example : “insulate and draught-proof your home”
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