Daily English Vocab
PDF 14th Oct. 2016
RBI should cut banks some slack while restructuring NPAs
The RBI’s financial stability numbers show two things. One, the relentless (सतत/निरन्तर)
growth of non-performing assets (NPAs) by all banks between March 2012 and 2016. The bestknown offenders (उल्लंघि करिे वालाकसूरवार/दोषी) are, of course, state-owned banks. But over
the last two years, even foreign banks have seen a sharp spike in bad debt growth, while private
banks have seen a steady (नियमित/संतम
ु लत) upward creep (बढ़िा/धीरे धीरे पररवतति होिा) in the
growth of NPAs.
Over the last two years, the annual increase of bad loans for all banks has jumped from around
20% per year to nearly 80% in the fiscal year ended March 2016. Two, India’s largest borrowers
have gorged (ग्रस्त होिा) on bad debt, even as their share of total loans has dropped marginally
in two years.
In March 2015, big borrowers accounted for 72.8% of all bad debt and 58.1% of total borrowing.
By March 2016, they held 86.4% of NPAs, while their share of borrowings dipped slightly to
58%. The dip in borrowings perhaps reflects growth pessimism (निराशावाद) and a lack of
appetite for funds. The spike in bad debt owes much to stalled (ठप/अवस्र्द्ध) projects, stagnant
(गनतहीि/स्स्िर/िंद) demand, a dip in margins and loss of pricing power. The RBI wants to solve
these problems, but less dramatically than proposed by former governor Raghuram Rajan.
While Rajan insisted that banks set aside money to cover all bad debt, the new dispensation
(व्यवस्िा) at Mint Street wants to cut banks some slack (लापरवाही). Some bad debt, which may
recover given enough time, will now be called ‘sustainable’.
Five sectors — infrastructure, steel, textiles, power and telecom — hold 61% of bad loans. The
RBI hopes they can turn around. But this should be a temporary reprieve (ववराि). India’s new
bankruptcy code, less stringent (कठोर/सख्त/कडा) than US Chapter 11provisions, should make it
easier for lenders to convert bad loan to equity and sell them to asset reconstruction companies
(ARCs) at a discount. The ARCs can rejig (बदलाव/पररवतति) managements to turn around these
companies. Pricing will be crucial: too low and banks will take a hit. Too high, ARCs may shun
what is on offer. We suggest a compromise, where banks sell at a discount, with covenants
(अिुबंध) specifying further payoffs in case of successful turnarounds. This may keep everyone
happy in the short term.
(Courtesy: The Economic Times)
1. Relentless (Adjective): Unceasingly intense. (सतत/निरन्तर)
 Synonyms: Continuous, Persistent, Non Stopping, Unceasing.
 Antonyms: Intermittent, Ending, Stopping
Example: If you are relentless in pursuit of your dreams, you will achieve them.
Verb Form: Relent, Relented, Relented
Related Words:

Relentlessly (adverb) (लगातार)

Relent (verb) (िद
ृ ु होिा)
2. Offender (Noun): (उल्लंघि करिे वालाकसरू वार/दोषी) : A person who commits an illegal act.
 Synonyms: Culprit, Felon, Delinquent, Guilty
 Antonyms: Disciple, Follower
Example: At the same time any manifest contradiction of the Articles, or any obvious evasion of
them, would subject the offender to the penalties of deprivation.
Verb Form: Offend, Offended, Offended
Related Words:

Offend (verb) : commit an illegal act. (उल्लंघि करिा/रुष्ट करिा)

Offensive (adjective): actively aggressive; attacking. (आक्रिणात्िक/रोषकारी)
3. Steady (Adjective): (नियमित/संतुमलत): Regular, even, and continuous in development,
frequency, or intensity.
 Synonyms: Equiponderant, Regular, Firm, Stable, Tenacious.
 Antonyms: Irregular, Imbalanced, Unsteady, Unstable.
Example: He finally found a steady job after working part-time at a number of different places
for a couple of years.
Verb Form: Steady, Steadied, Steadied.
Related words:

Steady (verb): becoming continuously. : (नियमित होिा)

Steadily (adverb): (नियमित रूप से)
4. Pessimism (Noun): (निराशावाद) : A tendency to see the worst aspect of things or believe that
the worst will happen.
 Synonyms: Gloominess, Dark Side View, Expectation of Negativity.
 Antonyms: Optimism, Positive Hope, Brightly Sided.
Example: A person who embraces pessimism will never see the rainbow that often follows the
rain.
Related words:

Pessimist (noun): (निराशावादी)
5. Stall (Verb) (ठप करिा/अवस्र्द्ध करिा) : Stop or cause to stop making progress.
 Synonyms: Halt, Stop, Hinder, Impede, Interrupt.
 Antonyms: Forward, Promote, Assist, Help.
Example: The peace process has been stalled by the leaders' unwillingness to compromise on a
number of key issues.
Verb Form: Stall, Stalled, Stalled.
Related words:

Stalled (adjective): (अवस्र्द्ध)
6. Stagnant (Adjective): (गनतहीि/स्स्िर/िंद) : Showing no activity; dull and sluggish.
 Synonyms: Stationary, Motionless, Dull, Still.
 Antonyms: Active, Moving, Mobile.
Example: Because John needs more money and his current salary has been stagnant for three
years, he is looking for a new job.
Verb form:
Related words:

Stagnancy (noun): (स्स्िरता/स्र्द्काव)

Stagnantly (Adverb): (स्स्िर रूप से)
7. Slack (Adjective): (लापरवाह): Having or showing laziness or negligence.
 Synonyms: Unsteady, Infirm, Sluggish, Lingering, Flabby.
 Antonyms: Quick, Alert, Stiff, Lively.
Example: When the Soviet Union dissolved only two years later, not with a bang but with a
whimper, we were slack-jawed with surprise.
Verb Form: Slack, Slacked, Slacked.
Related words:

Slackness (Noun) : (लापरवाही)

Slack (verb) : decrease or reduce in intensity, quantity, or speed. (कि पड़िा / धीिा होिा)
8. Reprieve (Noun): (ववराि): A cancellation or postponement.
 Synonyms: Abatement, Postponement, Amnesty, Pardon.
 Antonyms: Continuation
Example: He accepted the death sentence and refused to appeal for a reprieve.
Verb form: Reprieve, Reprieved, Reprieved.
Related words:

Reprieve: (verb): (अस्िायी रूप से हटािा).
9. Stringent (Adjective) (कठोर/सख्त/कडा): Strict, precise, and exacting.
 Synonyms: Strict, Rigid, Severe, Harsh, Tight, Inflexible.
 Antonyms: Flexible, Amenable, Lenient.
Example: Airplanes must pass stringent safety tests before they are allowed to be passenger
carriers.
Related words:

Stringently: (adverb): (कठोरतापूवक
त )
10. Rejig (Verb) (बदलाव/पररवतति) : Organize (something) differently.
 Synonyms: Reorganize, Rearrange, Redefine.
 Antonyms: Continuation, Extension.
Example: After three years of inception, his company did not show any progress, he needs to
rejig the complete structure of the company for sustainable growth.
Verb form: Rejig, Rejigged, Rejigged.
11. Covenant (Noun) (अिुबंध) : A binding arrangement;.
 Synonyms: Contract, Bond, Deal, Transaction.
 Antonyms: Disagreement, Refusal, Denial.
Example: The priest’s covenant is an agreement between him and God.
Related words:

Covenanted: (adjective) :(अिब
ु ंधधत)
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