THE HINDU EDITORIAL : NOVEMBER 29, 2018
THE HINDU EDITORIAL : NOVEMBER 29, 2018
Dear Banking Aspirants,
THE HINDU EDITORIAL – November 29, 2018, is one of the must-read section for the competitive exams like IBPS Clerk 2018, 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) Dire strait: on Russia-Ukraine sea clash
Russia must be persuaded to lower tensions with Ukraine
Russia’s capture of three Ukrainian naval ships and over 20 crew members in the disputed Azov Sea has refocussed international attention on the conflict on Europe’s eastern corridors. The rapid escalation in tensions following the flare-up is evident. Kiev has declared martial law and demanded that the sailors be treated as prisoners of war. A court in Russian-annexed Crimea, meanwhile, has ordered many of them to be held in pre-trial detention, charging them with illegally entering its territorial waters. Ukraine insists that the patrol of the Kerch Strait, where the vessels were impounded, was authorised under a bilateral agreement with Moscow. A new bridge over the strait that connects mainland Russia with Crimea has raised concerns about Moscow’s greater control and influence in the region. The latest incident coincides with the anniversary of the November 2013 Maidan Square protests in Ukraine demanding integration with Europe, which was the prelude to Russia’s invasion of Ukraine’s Crimea in 2014. The protracted conflict has so far claimed about 10,000 lives and displaced millions, and no lasting resolution is in sight. The 2014-15 Minsk peace accords prohibited air strikes and heavy artillery firing. But the dispute has dragged on into a smouldering low-intensity combat. The Ukraine-Russia conflict has also widened religious schisms. The independence granted to the Ukrainian Orthodox Church from the Russian entity in October was criticised by Moscow. In turn, the election this month of the legislatures of two breakaway enclaves of Kiev, with Moscow’s endorsement, drew criticism from Ukraine, leading European powers and the U.S. as violations of the Minsk accords.
There has been renewed Western diplomatic pressure since the weekend’s skirmishes, with the UN Security Council and NATO calling on Moscow and Kiev to de-escalate tensions. But besides forcing Russian President Vladimir Putin to toughen his rhetoric vis-à-vis the big powers, the hardships from the economic sanctions since Crimea’s occupation have achieved little by way of confidence-building in the region. European powers are divided between those advocating greater diplomatic engagement with the Kremlin and others wanting to press with further sanctions to punish perceived Russian political interference. But there has been little appreciation of the provocation for Moscow from NATO’s continued expansion into the former Eastern Europe and the erstwhile USSR. The geopolitical imperative of greater engagement with Moscow has never been more urgent, as hawks in the U.S. administration make no secret of their preference for confrontation over dialogue. The recent escalations could serve well the leaders of both Russia and Ukraine to divert attention from the sagging popularity levels at home. Ukrainian President Petro Poroshenko faces a general election next year, which, it is widely forecast, he will lose. But the humanitarian situation arising from the continuing conflict brooks no delay in arriving at a speedy resolution.
B) Central bank recap: on Urjit Patel’s deposition before parliamentary panel
Urjit Patel provides reassuring signals on NPAs and the RBI-Centre détente
There are two important takeaways from the deposition of Reserve Bank of India Governor Urjit Patel before the Parliamentary Standing Committee on Finance on Tuesday. First, the banking industry is over the hump on non-performing assets (NPAs), which peaked in the quarter ending March 2018 at 11.18% of advances. Both gross and net NPAs have registered a decline for two consecutive quarters — June and September 2018. Crucially, there has been a sharp fall in slippages (fresh NPAs added to the existing heap) from 7.3% in March 2018 to 3.87% in September. This is certainly good news as it indicates that the skeletons are mostly out of the cupboard now. Of course, there is still the onerous task of resolving the bad loans stock, which is at a little over ₹10 lakh crore now. Profitability of banks will continue to remain under stress as they provide for the bad loans in their books and/or take hair-cuts on recoveries through the insolvency process. Meanwhile, banks will also have to be wary of their small loans portfolio, especially those made under the Pradhan Mantri Mudra Yojana, which already add up to ₹6.77 lakh crore. These will need close monitoring.
The second important aspect of Mr. Patel’s deposition was his spirited defence of the RBI’s autonomy. Though he was careful not to say anything that would break the détente forged by the Centre and the central bank at its last board meeting on November 19, he made three forceful points: that the RBI’s autonomy is important to protect depositors’ interests; monetary policy has to be the exclusive domain of the RBI; and its reserves are central to maintaining its AAA rating. These statements are probably aimed at nipping in the bud any attempts to change the governance structure of the central bank. After the last board meeting, there have been reports that the Centre is planning to push for board committees to be set up to “assist” the RBI in the discharge of its work. Monetary policy is anyway the preserve of the Monetary Policy Committee created two years ago under the RBI Act, but there are other equally important functions which the Centre may be attempting to control through the board. The issue of autonomy is clearly the gorilla in the room and driving it out is not going to be an easy task. Yet, for the Centre and the RBI there is no alternative but to continue talking on this subject even while ensuring that it does not cast a shadow over their other respective roles and responsibilities. The issue of RBI autonomy is not something that first emerged during this government’s tenure, nor is it likely to be solved in its remaining tenure.
Meaning : argue about (something).(v)
Tamil Meaning : பிரச்சினைக்குரிய
Synonyms : bickering
Example : “the point has been much disputed”
Meaning : be incompatible or at variance; clash(v).
Tamil Meaning : மோதல்
Synonyms : battle
Example : “parents’ and children’s interests sometimes conflict”
Meaning : a rapid increase; a rise.
Tamil Meaning : விரிவாக்கத்திற்கு
Synonyms : acceleration
Example : “cost escalations”
Meaning : clearly seen or understood; obvious.(Adj)
Tamil Meaning : தெளிவாக
Synonyms : obvious
Example : “she ate the biscuits with evident enjoyment”
Meaning : say something in a solemn and emphatic manner(v).
Tamil Meaning : அறிவித்தார்
Synonyms : affirmed
Example : “the prime minister declared that the programme of austerity had paid off”
Meaning : ask authoritatively or brusquely.
Tamil Meaning : தேவை
Synonyms : appeal
Example : “‘Where is she?’ he demanded”
Meaning : excluding or not admitting other things(adj).
Tamil Meaning : பிரத்தியேக
Synonyms : swank
Example : “an exclusive focus on success and making money”
Meaning : the action of detaining someone or the state of being detained in official custody.
Tamil Meaning : காவல்
Synonyms : custody
Example : “the fifteen people arrested were still in police detention”
Meaning : make certain that (something) will occur or be the case(v).
Tamil Meaning : உறுதி
Synonyms : assure
Example : “the client must ensure that accurate records are kept”
Meaning : seize and take legal custody of (something, especially a vehicle, goods, or documents) because of an infringement of a law.(v)
Tamil Meaning : பறிமுதல்
Synonyms : confiscate
Example : “vehicles parked where they cause an obstruction will be impounded”
Meaning : demand something forcefully, not accepting refusal.
Tamil Meaning : வலியுறுத்துகிறது
Synonyms : assert
Example : “she insisted on carrying her own bag”
Meaning : relate to; be about.(v),anxiety; worry.(n)
Tamil Meaning : அக்கறை
Synonyms : interest, involvement
Example : “the story concerns a friend of mine”
Meaning : an action or event serving as an introduction to something more important.(n)
Tamil Meaning : முன்னோடியாக
Synonyms : prologue
Example : “a ceasefire had been agreed as a prelude to full peace negotiations”
Meaning : an instance of invading a country or region with an armed force(n).
Tamil Meaning : படையெடுப்பு
Synonyms : aggression
Example : “Napoleon’s disastrous invasion of Russia in 1812”
Meaning : the action or process of integrating.
Tamil Meaning : ஒருங்கிணைப்பு
Synonyms : assimilation
Example : “economic and political integration”
Meaning : lasting for a long time or longer than expected or usual.
Synonyms : continued
Example : “a protracted and bitter dispute”
Meaning : state or assert that something is the case, typically without providing evidence or proof.
Tamil Meaning : கூறினார்
Synonyms : allege
Example : “the Prime Minister claimed that he was concerned about Third World debt”
Meaning : take over the place, position, or role of.(v)
Tamil Meaning : இடம்பெயர்ந்த
Synonyms : deranged
Example : “he believes that books may be displaced by the electronic word”
Meaning : a military detachment or branch of the armed forces that uses large-calibre guns.
Synonyms : ordnance
Example : “each corps included two regiments of field artillery”
Meaning : burn slowly with smoke but no flame.
Tamil Meaning : புகைந்து
Synonyms : searing
Example : “the bonfire still smouldered, the smoke drifting over the paddock”
Meaning : fighting between armed forces.(n)
Tamil Meaning : போர்
Synonyms : action
Example : “five Hurricanes were shot down in combat”
Meaning : a portion of territory surrounded by a larger territory whose inhabitants are culturally or ethnically distinct.
Tamil Meaning : நிலப்பகுதிகளும்
Synonyms : reef
Example : “the besieged Muslim enclave of Srebrenica”
Meaning : the action of endorsing someone or something(n).
Tamil Meaning : ஒப்புதல்
Synonyms : advocacy
Example : “the issue of full independence received overwhelming endorsement”
Meaning : resume (an activity) after an interruption.
Tamil Meaning : புதுப்பிக்கப்பட்ட
Synonyms : revived
Example : “the parents renewed their campaign to save the school”
Meaning : of or concerning diplomacy(Adj).
Tamil Meaning : தூதரக
Synonyms : conciliatory
Example : “diplomatic relations with Britain were broken”
Meaning : the art of effective or persuasive speaking or writing, especially the exploitation of figures of speech and other compositional techniques.
Tamil Meaning : சொல்லாட்சி
Synonyms : hyperbole
Example : “he is using a common figure of rhetoric, hyperbole”
Meaning : become aware or conscious of (something); come to realize or understand.
Tamil Meaning : உணரப்பட்ட
Synonyms : anticipated
Example : “his mouth fell open as he perceived the truth”
Meaning : action or speech that makes someone angry, especially deliberately.
Tamil Meaning : ஆத்திரமூட்டல்
Synonyms : affront
Example : “you should remain calm and not respond to provocation”
Meaning : of vital importance; crucial.
Tamil Meaning : கட்டாயமாகும்
Synonyms : compulsory
Example : “immediate action was imperative”
Meaning : a hostile or argumentative situation or meeting between opposing parties(n).
Tamil Meaning : மோதலை
Synonyms : contest
Example : “a confrontation with the legislature”
Meaning : a rapid increase; a rise.(n)
Tamil Meaning : தீவிரமடைதலை
Synonyms : acceleration
Example : “cost escalations”
Meaning : sink, subside, or bulge downwards under weight or pressure or through lack of strength.
Tamil Meaning : தொய்வை
Synonyms : concavity
Example : “she let her head sag lower and lower”
Meaning : following each other continuously(adj).
Tamil Meaning : தொடர்ச்சியான
Synonyms : ensuing
Example : “five consecutive months of serious decline”
Meaning : a rounded raised mass of earth or land.
Tamil Meaning : திமில்
Synonyms : bulge
Example : “they sat on a hump of cropped grass”
Meaning : (of a task or responsibility) involving a great deal of effort, trouble, or difficulty.
Tamil Meaning : பெருஞ்சுமை
Synonyms : intolerable
Example : “he found his duties increasingly onerous”
Meaning : feeling or showing caution about possible dangers or problems.(adj)
Tamil Meaning : எச்சரிக்கை
Synonyms : attentive
Example : “dogs which have been mistreated often remain very wary of strangers”
Meaning : the state of being insolvent.
Tamil Meaning : நொடித்து
Synonyms : bankruptcy
Example : “the club was facing insolvency”
Meaning : the easing of hostility or strained relations, especially between countries.
Tamil Meaning : சமாதான நிலைப்பாடு
Synonyms : amity
Example : “his policy of arms control and detente with the Soviet Union”
Meaning : a large, thin, flat case for loose sheets of paper such as drawings or maps.
Synonyms : container
Example : “under his arm he carried a large portfolio of drawings”
Meaning : a small stream.
Synonyms : beck
Example : “the Lake District boasts lovely lakes and babbling brooks”
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Other Important Notification: Released In October 2018