{"id":8403,"date":"2021-09-21T16:22:46","date_gmt":"2021-09-21T10:52:46","guid":{"rendered":"https:\/\/www.practicemock.com\/blog\/?p=8403"},"modified":"2021-09-21T16:22:46","modified_gmt":"2021-09-21T10:52:46","slug":"the-hindu-editorial-vocabulary-sep-21-2021-day-144","status":"publish","type":"post","link":"https:\/\/www.practicemock.com\/blog\/the-hindu-editorial-vocabulary-sep-21-2021-day-144\/","title":{"rendered":"The Hindu Editorial Vocabulary\u2013 Sep 21, 2021; Day 144"},"content":{"rendered":"\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Difficult Word\/ Phrase<\/td><td>Contextual Sense<\/td><\/tr><tr><td>Woe&nbsp;<\/td><td>the troubles and problems that somebody has<\/td><\/tr><tr><td>Sovereign guarantee&nbsp;<\/td><td>A guarantee by the government that all obligations will be satisfied when and if the primary obligor goes into default<\/td><\/tr><tr><td>Toxic&nbsp;<\/td><td>very likely to yield a large loss<\/td><\/tr><tr><td>Upfront&nbsp;<\/td><td>(paying money) in advance<\/td><\/tr><tr><td>Rope in&nbsp;<\/td><td>to persuade someone to do something that they do not really want to do<\/td><\/tr><tr><td>Invoke&nbsp;<\/td><td>Cite as an authority; resort to<\/td><\/tr><tr><td>Nudge&nbsp;<\/td><td>A slight push or shake<\/td><\/tr><tr><td>Dither&nbsp;<\/td><td>to be uncertain or indecisive<\/td><\/tr><tr><td>Expeditious&nbsp;<\/td><td>Marked by speed and efficiency<\/td><\/tr><tr><td>Legacy loan&nbsp;<\/td><td>A legacy asset is an asset that has remained on a company\u2019s balance sheet for a long period time and has since become obsolete or has lost nearly all of its initial value<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.practicemock.com\/exams\/banking\/ibps-rrb-officer-scale-1\/?refcode=2760&amp;utm_source=Blog_The+Hindu+Editorial+Vocabulary%E2%80%93+Sep+21%2C+2021%3B+Day+144_210921_RRBOSM&amp;utm_medium=Link&amp;utm_campaign=RRBOSM\"><img decoding=\"async\" src=\"https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2021\/09\/RRB_PO_Free-Mock-1-1024x128.jpg\" alt=\"RRB_PO_Mains Free Mock\" class=\"wp-image-8404\"\/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The endgame: On the new &#8216;bad bank&#8217;<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Guarantees for the \u2018bad bank\u2019 may help, but not suffice to fix lenders\u2019 <strong>woes (the troubles and problems that somebody has)<\/strong><\/h3>\n\n\n\n<p>The Government has offered a <strong>sovereign guarantee (A guarantee by the government that all obligations will be satisfied when and if the primary obligor goes into default)<\/strong> to help the new \u2018bad bank\u2019, proposed in this year\u2019s Budget, extract better value from non-performing loans worth \u20b92-lakh crore in the banking system. To begin with, the National Asset Reconstruction Company Limited (NARCL) will pitch to take over <strong>toxic (very likely to yield a large loss) <\/strong>assets worth \u20b990,000 crore that banks have already fully provided for. It will offer a certain value to the lead bank for troubled loans of over \u20b9500 crore, and pay 15% <strong>upfront ((paying money) in advance) <\/strong>in cash, and issue the balance as tradable security receipts. The bad bank will then <strong>rope in (to persuade someone to do something that they do not really want to do)<\/strong> a separate asset manager being incorporated \u2014 the India Debt Resolution Company Ltd. (IDRCL) \u2014 to add value to the ailing asset, and resolve it as a \u2018going concern\u2019 or liquidate it. The guarantee, worth \u20b930,600 crore over five years, can only be <strong>invoked (Cite as an authority; resort to) <\/strong>once an asset is resolved and will cover any shortfall between the face value of the security receipts issued by the NARCL and the actual amount realised from a bad loan. The guarantee fee will be increased each year as a <strong>nudge (A slight push or shake) <\/strong>for NARCL and the IDRCL to speed up resolution. After losing precious time <strong>dithering (to be uncertain or indecisive) <\/strong>over its pros and cons, the Government now believes this approach will be more <strong>expeditious (Marked by speed and efficiency) <\/strong>to fix the substantial NPAs that persist despite the existing debt recovery mechanisms including the Insolvency and Bankruptcy Code. Terming banks\u2019 high provisioning for <strong>legacy loans (A legacy asset is an asset that has remained on a company\u2019s balance sheet for a long period time and has since become obsolete or has lost nearly all of its initial value)<\/strong> a \u2018unique opportunity\u2019, the Centre thinks NARCL will also help free up bank personnel to focus on faltering credit growth and spur the economy.<\/p>\n\n\n\n<p>To the extent that the NARCL and IDRCL managements will streamline decisions once a loan is taken over, instead of seeking consensus among multiple lenders as the IBC entails, the idea holds some weight. But banks have already provided for these loans, so this is perhaps a tardy gambit and may not work in jump-starting credit flows unless accompanied by their recapitalisation. On the likelihood of the guarantee being invoked, the Finance Ministry has said once the assets are pooled together, \u2018it is reasonable to expect\u2019 that many of them will realise more value than NARCL\u2019s acquisition cost. This may be a tad optimistic. As the Finance Minister herself said, 28 existing private ARCs are hesitant about taking a jab at extracting value from these bad loans, perhaps owing to their size. That begs the question about the calibre of professionals NARCL and the IDRCL would need to outdo private players. The new entities\u2019 ability to get a few good men to deliver more bang for sunk capital would be critical, as would structures to pre-empt a moral hazard that the guarantee poses (of not bothering too much about final realisation value). This self-proclaimed endgame of India\u2019s bad loans crisis needs sustained attention for a satisfactory culmination.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.practicemock.com\/exams\/banking\/ibps-rrb-officer-scale-1\/?refcode=2760&amp;utm_source=Blog_The+Hindu+Editorial+Vocabulary%E2%80%93+Sep+21%2C+2021%3B+Day+144_210921_RRBOSM&amp;utm_medium=Link&amp;utm_campaign=RRBOSM\"><img decoding=\"async\" src=\"https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2021\/09\/RRB_PO_Free-Mock-1-1024x128.jpg\" alt=\"RRB_PO_Mains Free Mock\" class=\"wp-image-8404\"\/><\/a><\/figure>\n\n\n\n<p>Want to improve your vocabulary further?\u00a0<a href=\"https:\/\/www.practicemock.com\/blog\/vocabulary\/the-hindu-editorial-vocabulary-download-free-pdf\/\">Download the Lists of Word-Meanings of Previous Months here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Want to learn new words on a daily basis? Have a look at this series of articles where we analyze difficult words of prominent editorials.<\/p>\n","protected":false},"author":3,"featured_media":8405,"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":[11,25,15,8,5,17,2,31,49,16,47],"tags":[69],"class_list":["post-8403","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-niacl-ao","category-rbi-assistant","category-sbi-clerk","category-sbi-po","category-ssc-cgl","category-vocabulary","tag-editorials-difficult-words-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Hindu Editorial Vocabulary\u2013 Sep 21, 2021; Day 144 - Practicemock<\/title>\n<meta name=\"description\" content=\"Want to learn new words on a daily basis? 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Have a look at this series of articles where we analyze difficult words of prominent editorials.","_links":{"self":[{"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/posts\/8403","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=8403"}],"version-history":[{"count":0,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/posts\/8403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/media\/8405"}],"wp:attachment":[{"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/media?parent=8403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/categories?post=8403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.practicemock.com\/blog\/wp-json\/wp\/v2\/tags?post=8403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}