The Hindu Editorial (Patchwork progress) – Jul 31, 2021

The Government hopes to ring in fresh changes to the 1961 Deposit Insurance and Credit Guarantee Corporation law in the monsoon session, after the Cabinet nod this week. For further reading, visit “The Hindu”. Below is today’s word list-1 for The Hindu Editorial (Patchwork progress) – Jul 31, 2021.

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The Hindu Editorial (Patchwork progress) – Jul 31, 2021:

patchwork (noun) – something that is made of different parts/elements; assortment, alphabetic soup.
insured (adjective) – covered by insurance.
hasten (verb) – speed up, quicken, accelerate, expedite.
ring in (phrasal verb) – announce, introduce, launch.
Deposit Insurance and Credit Guarantee Corporation law, 1961 (DICGC Act) (noun) – it is an Act to provide for the establishment of a Corporation for the purpose of insurance of deposits and guaranteeing of credit facilities and for other matters connected therewith or incidental thereto.
nod (noun) – a sign of approval.
perspective (noun) – viewpoint, point of view, stand.
be on the anvil (phrase) – in a state/condition of discussion (not implemented); being discussed or prepared but it is not yet completed to be put into action.
remit (verb) – send, forward, transmit (money).
troubled (adjective) – (of a bank) distressed, stressed, suffering, gone under (with non-performing assets/bad loans/troubled accounts).
impose (verb) – force, thrust, inflict (an unwelcome decision/ruling).
curb (noun) – restriction, limitation.
the clock is ticking (phrase) – the time is passing quickly and there is not much time.
thereabouts (adverb) – approximately.
outstanding (noun) – pending.
cap (noun) – limit, upper limit, ceiling.
retrospectively (adverb) – with effect from a date in the past.
lender (noun) – financial institution (bank) which lends money.
moratorium (noun) – a temporary suspension/postponement of activity (for example; payment of a debt).
bar (noun) – restriction, limitation.
seek (verb) – try, aim, attempt.
park (verb) – deposit, put down, put, place.
go under (phrasal verb) – (of a business) go bankrupt, cease trading, go into liquidation, become insolvent, be closed down, be shut down.
elude (verb) – escape from, run away from, evade, avoid, get away from, dodge.
fork out (phrasal verb) – pay money (reluctantly).
hit (verb) – reach (a particular point/level).
hurdle (noun) – obstacle, difficulty, problem, impediment, obstruction, hindrance.
myriad (adjective) – various, many and various, manifold, multiple.
lay down (phrasal verb) – formulate, frame, draw up.
incremental (adjective) – gradual, step-by-step, staggered, phased.
in quick succession (phrase) – following quickly one after another.
piecemeal (adjective) – disorganized, unplanned, unsystematic, unmethodical, step by step.
rather than (phrase) – instead of.
system-wide (adjective) – relating to the whole of a system.
stress (verb) – emphasize, draw attention to, focus attention on, underline, underscore, highlight.
nevertheless (adverb) – in spite of everything, notwithstanding, regardless, anyway, anyhow, however.
given (preposition) – considering, taking into account, bearing in mind.
distress (noun) – (financial) hardship, trouble, difficulty, misfortune.
household (noun) – family, house.
downward (adjective) – moving toward a lower level; descending, falling, sinking, sliding.
momentum (noun) – pace, rate; driving power, strength.
due to (phrase) – because of, owing to, on account of, as a result of.
pandemic (noun) – the worldwide spread of a new disease; The illness spreads around the world and typically affects a large number of people across a wide area.
make through (phrasal verb) – to successfully complete (something) without significant stress/pressure.
din (noun) – uproar, noise, commotion.
renewed (adjective) – re-established, revived.
grapple with (verb) – tackle, confront, deal with, cope with.
sour/bad loans (noun) – non-performing assets (NPAs), stressed assets/loans; an account where the principal and/or interest remains overdue for a period of time.
dwindling (adjective) – diminishing, reducing, decreasing.
fledgling (adjective) – emerging, beginning, developing.
insolvency (noun) – a condition in which the financial difficulties of an individual or organisation are such it is unable to pay its debts.
bankruptcy (noun) – legal state of insolvency. An individual or organisation is declared bankrupt if a court judges that the party involved can no longer meet debt payments to creditors. It is defined as the outcome of a legal procedure.
framework (noun) – structure, system.
financial stability (noun) – financial stability is a condition where the financial system is able to withstand internal or external economic shocks and also able to smoothly conduct its core tasks.
stash (verb) – store/hide something secretly & safely in large amounts.
mattress (money) (noun) – the uninvested savings of private individuals; money being held by the borrower in cash some place other than a bank account, and cannot be documented where it came from.
literacy (noun) – knowledge.
instrument (noun) – financial asset.
neighbourhood (noun as modifier) – surrounding area, local area, locale, locality.
up (verb) – increase, make greater, augment, enlarge, expand.
oversight (noun) – supervision, surveillance, superintendence, inspection.
moreover (adverb) – besides, furthermore, in addition.
provision (noun) – clause, requirement, condition.
in line with (phrase) – in alignment with, in accordance with, conforming to.
inflation (noun) – simply meaning “cost of living”; increase of price level of goods & services and vice versa decrease of currency value.
per capita (adverb & adjective) – per person, for each; relating to each person.