♠The Hindu Review♠
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♦ RBI slaps Rs 3.5-cr fine on Corp Bank, Allahabad Bank for flouting norms
- The Reserve Bank has imposed a cumulative penalty of Rs 3.5 crore on state-owned lenders Corporation Bank and Allahabad Bank for violation of various norms.
- This is to inform that Reserve Bank of India…has imposed an aggregate penalty of Rs 20 million on our bank due to some lapses in monitoring of end use of funds and exchange of information with other banks in respect of one borrower along with some other banks,” Corporation Bank said in a regulatory filing Friday.
- The bank has already taken necessary preventive measures to avoid such recurrence, it added.
♦ Ashutosh Raghuvanshi appointed Fortis Healthcare CEO with effect from March
- Ashutosh Raghuvanshi, former vice-chairman, managing director (MD) and group chief executive officer (CEO) of Devi Shetty-led Narayana Hrudayalaya (NHL), has been appointed CEO of Fortis Healthcare with effect from March 2019.
- Fortis said he would be designated as a key managerial personnel. “At Fortis, Raghuvanshi will be responsible for the day-to-day management decisions, and to implement the firm’s long- and short-term plans,” it said in a notification to the exchanges.
- Earlier this week, Raghuvanshi had resigned from NHL after an 18-year stint. He had left Manipal Hospitals, along with Shetty, in 1997 when the latter decided to start his own hospital chain.
♦ Cognizant appoints Vodafone Executive Brian Humphries as CEO
- Cognizant for the first time has picked an outsider, Brian Humphries, as its new CEO. Humphries will replace Francisco D’Souza, who has been with the firm since 2007.
- Cognizant president Rajeev Mehta will step down on April 1, ending speculation that the firm would go for an insider to lead the technology company.
- He is currently the CEO of Vodafone Business. Humphries appointments will be effective from April 1, 2019.
- Humphries joined Vodafone from Dell where he most recently held the position of President and Chief Operating Officer of its Infrastructure Solutions Group, based in Boston and Geneva. Previously, he was President of Dell’s Global Enterprise Solutions, a group with approximately $15 billion in revenue, and before that he was Vice President and General Manager, EMEA Enterprise Solution.
♦ Bharti Airtel unit to merge with Telkom Kenya
- India’s Bharti Airtel on Friday said its unit, Airtel Networks Kenya Ltd, has agreed to merge with Telkom Kenya Ltd, the East African nation’s smallest telecom operator.
- Last month, three industry sources had told Reuters that Bharti Airtel was in talks to buy Telkom Kenya, to create a stronger challenger to market leader Safaricom .
- The companies will combine their respective mobile, enterprise and carrier services businesses in Kenya to operate as Airtel-Telkom, Airtel said, without revealing further details.
♦ British actor Albert Finney, five-time Oscar nominee, dies aged 82
- British actor Albert Finney, who rose to fame on a post-war wave of gritty, working-class dramas and became an Oscar-nominated international star, has died at the age of 82. Finney died after a short illness, the BBC reported on Friday. Born in Salford, Greater Manchester, in 1936, he began his career as a Shakespearean theatre actor.
- He made his name in 1960 with “Saturday Night and Sunday Morning,” one of a new generation of down-to-earth British films dubbed kitchen-sink dramas in which he played an angry young factory worker.
- His fame spread further when he was cast as the lead in bawdy historical romp “Tom Jones” in 1963, which won four Oscars including Best Picture and brought Finney the first of his four nominations for Best Actor.
♠Vocabulary (The Hindu)♠
- PURVIEW (NOUN):ken(ज्ञान)
Synonyms: acumen, apprehension
Antonyms: misconception, misinterpretation
Example: The politics in the office is beyond my purview.
- PROFANE (ADJECTIVE):blasphemous (अपवित्र)
Synonyms: indecent, irreverent
Antonyms: reverent, respectful
Example: Churches should not be used for profane orsecular purposes.
- NEGATE (VERB):contradict (विरोध करना)
Synonyms: annihilate, believe
Antonyms: allow, approve
Example: I can neither negate nor affirm this claim.
- ABNEGATION (NOUN): refusal (अस्वीकृति)
Synonyms: rejection, forbearance
Antonyms: sanction, allowance
Example: George’s abnegation of responsibility for his son’s behavior angered the judge.
- DYNAMIC (ADJECTIVE): Charismatic : (गतिशील)
Synonyms: effective, energetic
Antonyms: lethargic, lifeless
Example: Vishal has a very dynamic personality.
- DEBACLE (NOUN): Catastrophe : (पराजय)
Synonyms: beating, collapse
Antonyms: attainment, accomplishment
Example: When the movie was released, it was called a debacle by the audience.
- BEFOUL (VERB): Defile : (गंदा करना)
Synonyms: dishonor, pillage
Antonyms: honor, praise
Example: Many graves were befouled.
- DEMUR (VERB): Object : (मन डांवाडोल होना)
Synonyms: refuse, dissent
Antonyms: support, help
Example: She demurred enter into the new business deal.
Close Test Based on The Hindu Editorial
On a cliff edge: on Brexit
The prospects for Britain’s orderly withdrawal from the European Union on March 29 have receded further, even as MPs rallied to stop a no-deal scenario. An amendment to the draft bill on the termination of London’s membership of the bloc obliges Prime Minister Theresa May to renegotiate her withdrawal agreement with Brussels. A Tory backbencher’s ……..(1)…….. calls on the government to come up with ……(2)…….. to the Irish backstop, a central tenet of the deal Britain agreed with the rest of the EU. The arrangement is meant to guarantee continuation of the soft border between Northern Ireland and the Republic of Ireland, even if London and Brussels fail to strike a concrete relationship after Brexit. The reservations that Conservative Eurosceptics have over the backstop was a crucial factor why Ms. May delayed a House of Commons vote on her withdrawal agreement. Her subsequent attempts to secure assurances from Brussels to set a time limit on the backstop, or for Britain to quit the mechanism unilaterally, yielded no tangible outcome. A strong Eurosceptic opposition on the issue was also the reason for Ms. May’s overwhelming defeat in the House of Commons a fortnight ago. Ironically, this is the same deal Ms. May has all along insisted as being the one that could deliver the Brexit that people voted for, and to avoid Britain’s crashing out of the EU. Soon after the passage of the amendment on Tuesday, the President of the European Council reiterated the bloc’s unanimous position, ruling out a reopening of the withdrawal agreement. The Irish government has been equally categorical that as the basic guarantor of the 1998 Good Friday accord, the soft border was non-negotiable.
With less than 60 days to the deadline, the scope to overcome such fundamental differences in approach is rather narrow. Moreover, the Commons voted down a move, by Conservative and Labour proponents, to initiate legislation to ………(3)……… the leave date. The latter had hoped the postponement plan would be a way to gain time, if the government failed to reach any agreement with Brussels or could not secure ratification at Westminster by late-February. Opponents, including Ms. May, dubbed the idea a remainer’s ploy to delay Brexit, or worse still, to lay the groundwork for a second referendum. But Parliament has wrested control of the Brexit process, and the demand to defer the deadline could well resurface. In that event, the EU’s favourable disposition to ……..(4)…….. the Article 50 process could serve to influence the parliamentary balance. But Ms. May has seemed reluctant to confront the extreme stance of her Tory backbenchers and might remain hostage to a hard Brexit reality, notwithstanding the resulting chaos and upheaval. That outcome is surely not one that most leave voters would have even remotely imagined.
Question 5: Select the word which is most nearly the SAME MEANING as the word printed in bold as used in the passage.
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