The Hindu Review 6 February 2019 | (Current + English Article + Vocab)| Download PDF

The Hindu Review 6 February 2019

♠The Hindu Review♠

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RBI penalises Axis Bank, UCO and Syndicate over various compliance issues

  • The Reserve Bank of India (RBI) Tuesday said it has imposed a total penalty of Rs 2.2 crore on private sector lender Axis Bank in two separate cases.
  • A penalty of Rs 2 crore has also been imposed on UCO Bank and Rs 1 crore on Syndicate Bank for violation of norms.
  • The RBI said penalty of Rs 2 crore has been imposed each on Axis Bank and UCO Bank for non-compliance of norms related to payment through cheques.
  • In another case, a penalty of Rs 20 lakh has been imposed on Axis Bank for contravention of the directions related to detection and impounding of counterfeit notes.
  • The penalty on Syndicate Bank has been imposed for violation of guidelines related to checking fraud and managing risk.
  • The RBI, however, said the action on banks is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.


Huge scope between businesses of India, Monaco: Suresh Prabhu

  • Commerce and Industry Minister Suresh Prabhu on Monday said that huge scope exists between businesses of India and the European country of Monaco to boost cooperation in the services sector and high-end technologies.
  • Prabhu said India and Monaco can jointly work together in developing technologies to mitigate environmental concerns.
  • Prince of Monaco, Albert II was leading the business delagation from Monaca.
  • A partnership agreement was signed between industry chamber FICCI and Monaco Economic Board to strengthen the institutional relations between the countries for further increasing trade and economic relations.


ADB buys 14% stake in Annapurna Finance

  • The Asian Development Bank (ADB) has bought a 14% stake in micro-financier Annapurna Finance for Rs 137 crore, reinforcing the belief that India’s microfinance sector is on course to attracting long-term funds from global lenders and investors.
  • ADB’s investment in the Bhubaneswar-based Annapurna is an equity expansion, while a few of the existing investors such as Oman India Joint Investment Fund (OIJIF), Oikocredit and Bamboo Finance Partners raised their holding in the MFI through secondary market deals totaling Rs 75 crore, Dibyajyoti Pattanaik, director at Annapurna Finance, told ET.
  • The expansion of equity will help the firm expand its loan portfolio in asset classes such as MSME and affordable housing, beyond its bread and butter microfinance.
  • “We look forward to leveraging ADB’s experience to strengthen our product and our reach to people in need of financing solutions,” said Annapurna Managing Director Gobinda Chandra Pattanaik.


Mulugu set to become newest district in TS

  • Decks have been cleared for the creation of Mulugu as new district, carving it out from Bhupalpalli district. This would be the sixth district to be created from the erstwhile Warangal district.
  • Following the promise by Chief Minister K Chandrasekhar Rao during his recent election campaign owing to public demand, the State government has issued a notification calling for objections and suggestions from the public on December 31. The one-month period expired on January 30.
  • Mulugu district will comprise Mulugu, Eturunagaram, Mangapet, Kannaigudem,Tadvai, Govindaraopet, Venkatapur(M), Venkatapuram and Wazed mandals. There were no objections for the proposals from the public. However, there were suggestions to include Kothaguda and Gangaram mandals into Mulugu district, from Mahabubabad district. These two mandals are 80 km from the Mahabubabad district headquarters but 14 to 20 km from Mulugu headquaters. People from Peddhapu, Gurampeta, Subhakkapalli, Ramnayak Thanda and Bhausinghpalli villages of Bhupapalli district want their villages to be merged in new Mulugu district.
  • Meanwhile, there were 130 representations from people to make Parkal mandal headquarters as Bhupalpalli district headquarters. Parkal MLA Ch Dharma Reddy was strongly lobbying to make Parkal as the district headquarters of Bhupalpalli district.
  • The people of Mallampalli village sulked as there was no mention of making their village as new mandal which was also demanded during the elections and KCR had agreed to it. People have submitted a memorandum to the Collector to make Mallampalli with 10 gram panchayats as new mandal.

Philippines tops world internet usage index with an average 10 hours a day

Philippines tops world internet usage index with an average 10 hours a day

  • South-east Asia is one of the most internet-addicted regions on the planet, with the Philippines topping the global list with an average 10 hours and 2 minutes of screen time every day.
  • The country was joined in the top five by Thailand and Indonesia, according to findings in a new report on online habits released by HootSuite and We Are Social.
  • Ranked third, people in Thailand were found to spend an average 9 hours and 11 minutes online each day, while those in neighbouring Indonesia also devoted more than a third of their day to screen time, clocking in at 8 hours and 36 minutes on average.
  • Developing nations from south-east Asia and Latin America dominated the internet usage index, with Brazil and Colombia ranked second and fourth, respectively.
  • Asia also featured at the other end of the spectrum, with people in Japan spending the least amount of time online – at an average of 3 hours and 45 minutes.
  • Why teens don’t need us to save them from the evils of technology | Rhik Samadder.
  • The report reveals 57% of the global population is now connected to the internet, spending an average 6.5 hours online each day, leading its author, Simon Kemp, to calculate that the “world’s digital community will spend a combined total of more than 1.2bn years using the internet in 2019”.

himallya melting2

EXCLUSIVE: Two-thirds of Himalayan glaciers could melt by 2100, warn scientists

  • According to the Hindu Kush Himalaya (HKH) assessment report, even the most ambitious Paris Agreement goal of limiting global warming to 1.5 degrees would lead to melting of one-third of the region’s glaciers.
  • The study warns that if global climate efforts fail the current emissions would lead to five degrees in warming and a loss of two-thirds of the region’s glaciers by 2100.
  • The report said Himalayan glaciers are critical water source to some 250 million mountain dwellers and 1.65 billion others living in the river valleys.
  • Philippus Wester of the International Centre for Integrated Mountain Development (ICIMOD), who led the report, said in a press release “Global warming is on track to transform the frigid, glacier-covered mountain peaks of the HKH cutting across eight countries to bare rocks in a little less than a century.
  • Impacts on people in the region, already one of the world’s most fragile and hazard-prone mountain regions, will range from worsened air pollution to an increase in extreme weather events.”
  • Director General of ICIMOD, David Molden said “the massive size and global significance of the Hindu Kush Himalaya region is indisputable, yet this is the first report to lay down in definitive detail the region’s critical importance to the well-being of billions and its alarming vulnerability, especially in the face of climate change.”

Ramit Tandon wins Seattle Open

Ramit Tandon wins Seattle Open

  • Top seeded Ramit Tandon made the most of his first meeting with Egyptian Mohamed El Sherbini to win the final of the Seattle Open, a PSA challenger squash Tour event here late on Saturday night. The Indian won 11-4, 11-7, 2-11, 11-2 for his first PSA title in 2019 and fourth title overall in his career.
  • Judicious has been Tandon’s hallmark in play just as he was in choosing events. Fluent right through till the final , the Indian’s only moment of hesitation came in the third game of the final. Superior choice of strokes held him in good stead besides the flourish in the finishes upfront.
  • Still for all this that one game went the Egyptian’s way but not as it turned out the tempo of the match. For somone who rose to his career high ranking of 58 in the latest February list released, Tandon celebrated it with a victory in this tournament.

♠Vocabulary (The Hindu)♠

  1. FRACAS (NOUN): feud (शोरग़ुल)

Synonyms: riot, scuffle

Antonyms: harmony, peace

Example: Fracas is going on in the city.

  1. DUPLICITOUS (ADJECTIVE): deceptive (प्रवंचनशील)

Synonyms: artful, deceptive

Antonyms: actual, authentic

Example: She has a duplicitous personality.

3. DIFFIDENCE (NOUN): hesitancy (झिझक)

Synonyms: backwardness, doubt

Antonyms: arrogance, boldness

Example: I have seen diffidence in his speech.

  1. SCHISM (NOUN): separation (मतभेद)

Synonyms: breakup, alienation

Antonyms: unity, agreement

Example : In the United States, the schism caused by slavery led to the Civil War.

  1. ALUMNUS (NOUN): educated/ ex-student (भूतपूर्व छात्र)

Synonyms: old grad, alumna

Antonyms: undergraduate, uneducated

Example: He is an intelligent alumnus.

  1. UNCOUTH (ADJECTIVE): clumsy, uncultivated (भद्दा)

Synonyms: awkward, barbaric

Antonyms: agile, couth

Example: Manoj behaved in an uncouth manner.

  1. TRITE (ADJECTIVE): hackneyed (घिसेपिटे)

Synonyms: dull, cliche

Antonyms: fresh, new

Example: I don’t want to involve in the trite conversation they were having.

  1. MURKY (ADJECTIVE): cloudy (फीका)

Synonyms: misty, foggy

Antonyms: bright, clear

Example: The fight was going on in the murky environment.

RC Based on The Hindu Editorial

Signs of a turnaround: on RBI’s Financial Stability Report

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.

Question 1-what is the GNPA ratio as stated in the RBIs report for PSBs?

A) 21.6%
B) 10.8%
C) 14.6%
D) 18%

Question 2- the reason for current improvement in banking system can be attributed to which of the following factors?


B) stress test for credit risk

C) prudence in risk-taking

D) None of these

Question3- all except which of the following reasons is not responsible for slow progress of the public sector banks?

A) Public sector banks bear a huge part of banking fraud’s

B) Public sector banks have higher share of bad loans

C) Stress test for credit risk depicts higher GNPA for public sector banks.

D) None of these

Question-4 which of the following options shows that the banking sector appears to be under recovery?

A) state owned banks will show slower progress over the second half of the year.

B) The GNPA declined as compared to the month previous report published in September 2018.

C)A stress test has been conducted for all the banks.

D) Option B and C

Question-5 What according to the passage should be done to improve the current status of banking sector?

A) Regulators and policymakers need to work together to improve the current scenario.

B)Stress test should be conducted on regular basis.

C)Prompt correct of action framework should not be followed.

D) Option A and C

Question 6: Select the word which is most nearly the SAME MEANING as the word printed in bold as used in the passage.



B) Narrate
C) Forecast
D) Recite

Question 7: Select the word which is most nearly the OPPOSITE MEANING as the word printed in bold as used in the passage.



B) Neglect
C) Blank
D) Perfection


1-option C

2-option A

3- option C

4- option B

5- option A

6-option C

7-option D

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