{"id":5498,"date":"2021-07-26T12:48:50","date_gmt":"2021-07-26T07:18:50","guid":{"rendered":"https:\/\/www.practicemock.com\/blog\/?p=5498"},"modified":"2021-07-26T12:48:50","modified_gmt":"2021-07-26T07:18:50","slug":"the-hindu-editorial-vocabulary-july-26-2021-day-107","status":"publish","type":"post","link":"https:\/\/www.practicemock.com\/blog\/the-hindu-editorial-vocabulary-july-26-2021-day-107\/","title":{"rendered":"The Hindu Editorial Vocabulary\u2013 July 26, 2021; Day 107"},"content":{"rendered":"\n

The importance of reading editorials of reputed newspapers is not hidden from anybody. What causes obstruction are difficult words which act like speed-breakers<\/strong> forcing you to either refer to a dictionary for its meaning or simply guess it. While getting the meaning from the dictionary is the best way to understand it, sometimes a dictionary is not within your reach. Also, a number of aspirants get confused when they see more than one meaning next to a word in a dictionary<\/strong>. It becomes a difficult process for them to pick the relevant meaning.<\/p>\n\n\n\n

We at PracticeMock understand this and that\u2019s why we have come up with a series of\u00a0Editorials\u2019 Difficult Words<\/strong><\/a>\u00a0where we\u00a0shortlist the important editorials of the day and pick the difficult words\/ phrases therein. Next to the word, we put only the contextual sense of the word\/ phrase so that you don\u2019t get confused. Now let\u2019s go through today\u2019s editorial.<\/p>\n\n\n\n

Difficult Word\/ Term<\/td>Contextual Sense<\/td><\/tr>
Ambiguity <\/td>the quality of being open to more than one interpretation; inexactness<\/td><\/tr>
Stance <\/td>a way of thinking about something, especially expressed in a publicly stated opinion<\/td><\/tr>
Fiat currency <\/td>a government-issued currency that is not backed by a commodity such as gold<\/td><\/tr>
Pilot project <\/td>an initial small-scale implementation that is used to prove the viability of a project idea<\/td><\/tr>
Viability <\/td>ability to work successfully<\/td><\/tr>
Spook <\/td>frighten<\/td><\/tr>
Roll-out <\/td>officially launch or introduce a new product or service<\/td><\/tr>
Timeline <\/td>a schedule for when a process or procedure will be carried out<\/td><\/tr>
Anonymity <\/td>the quality or state of being unknown to most people<\/td><\/tr>
Compounded annual growth rate <\/td>the mean annual growth rate of something over a specified period of time longer than one year<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
\"RRB<\/a><\/figure>\n\n\n\n

Money changer: On need for an official digital currency<\/h2>\n\n\n\n

India needs to move forward on introducing an official digital currency<\/h3>\n\n\n\n

In contrast to India\u2019s continued ambiguity (the quality of being open to more than one interpretation; inexactness)<\/strong> over the legality of cryptocurrencies, its stance (a way of thinking about something, especially expressed in a publicly stated opinion)<\/strong> on introducing an official digital currency has been reassuringly clear and consistent over time. And, four years after an inter-ministerial committee recommended that India launch fiat money (a government-issued currency that is not backed by a commodity such as gold)<\/strong> in digital form, the Reserve Bank of India has indicated that pilot projects (an initial small-scale implementation that is used to prove the viability of a project idea)<\/strong> to figure out its viability (ability to work successfully)<\/strong> are likely to be launched soon. In a speech a few days ago, T. Rabi Sankar, Deputy Governor, RBI, said, \u201cRBI is currently working towards a phased implementation strategy and examining use cases which could be implemented with little or no disruption.\u201d The clarity is welcome, given that the much-awaited Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, is yet to be introduced. In recent years, the significant rise of private cryptocurrencies such as Bitcoin and Ether has spooked (frighten)<\/strong> central banks throughout the world, and pushed the case for official digital currencies. Mr. Rabi Sankar himself cited a 2021 BIS survey of central banks, which found that 86% were actively researching the potential for such currencies, 60% were experimenting with the technology, and 14% were deploying pilot projects. China, having already engaged in pilot projects for its digital RMB, is in fact planning a major roll-out (officially launch or introduce a new product or service)<\/strong> soon. There has been little doubt, therefore, that India needs a digital rupee. The important questions are about the details and the timeline (a schedule for when a process or procedure will be carried out)<\/strong>.<\/p>\n\n\n\n

\"RRB<\/a><\/figure>\n\n\n\n

There are crucial decisions to be made about the design of the currency with regards to how it will be issued, the degree of anonymity (the quality or state of being unknown to most people)<\/strong> it will have, the kind of technology that is to be used, and so on. It is possible that the question of the degree of anonymity, especially, will be quite a challenging one. While official digital currencies can borrow the underlying technology feature of private cryptocurrencies, they significantly differ from the latter in their philosophy and goals. Also to be considered are possible impacts of the introduction of an official digital currency on people, the monetary policy, and the banking system. There are risks to be considered as well, not the least of which will be those emerging from cyberattacks. What is more, many laws need to be amended to make the digital rupee a reality. So, while India might have done exceedingly well in digital payments in recent years \u2014 the Deputy Governor said they have grown at a compounded annual growth rate (the mean annual growth rate of something over a specified period of time longer than one year)<\/strong> of 55% over the last five years \u2014 the digital rupee will be something else altogether. Notwithstanding all these challenges, it would seem that the answer to Mr. Rabi Sankar\u2019s speech title, \u2018Central Bank Digital Currency \u2013 Is This the Future of Money\u2019, is a yes.<\/p>\n\n\n\n

Hope you got to know some new words\/phrases which will definitely be useful in the English section of upcoming competitive exams. Wishing you all the best for your preparation!<\/p>\n\n\n\n

Want to improve your vocabulary further? Download the Lists of Word-Meanings of Previous Months here<\/a>.<\/p>\n\n\n\n

\"RRB<\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"

Update your vocabulary with the help of this analysis of The Hindu Editorial. Learn the meaning of new words & improve your performance.<\/p>\n","protected":false},"author":3,"featured_media":5499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[11,25,15,8,5,48,348,384,31,49,16,47],"tags":[69],"class_list":["post-5498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ibps-clerk","category-ibps-po","category-ibps-rrb-clerk","category-ibps-rrb-po","category-ibps-so","category-nabard-grade-a","category-pscb-clerk","category-sbi-apprentice","category-sbi-clerk","category-sbi-po","category-ssc-cgl","category-vocabulary","tag-editorials-difficult-words-2"],"yoast_head":"\nThe Hindu Editorial Vocabulary\u2013 July 26, 2021; Day 107 - Practicemock<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.practicemock.com\/blog\/the-hindu-editorial-vocabulary-july-26-2021-day-107\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Hindu Editorial Vocabulary\u2013 July 26, 2021; Day 107 - Practicemock\" \/>\n<meta property=\"og:description\" content=\"Update your vocabulary with the help of this analysis of The Hindu Editorial. 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Learn the meaning of new words & improve your performance.","_links":{"self":[{"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/posts\/5498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/comments?post=5498"}],"version-history":[{"count":0,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/posts\/5498\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/media\/5499"}],"wp:attachment":[{"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/media?parent=5498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/categories?post=5498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/tags?post=5498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}