Gem of a scam – The Hindu (Feb 16 2018)

Gem of a scam – The Hindu (Feb 16 2018)

A regulatory filing to the stock exchanges by Punjab National Bank has blown the lid off a ₹11,500-crore fraud. For further reading, visit “The Hindu”.

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Courtesy: The Hindu

Word List-1 (To Improve English Vocabulary)

1. gem (noun) – outstanding example, perfect example, model.
2. blow the lid off (phrase) – expose, reveal, make public.
3. perpetrate (verb) – commit, carry out, perform.
4. maverick (noun) – atypical, unorthodox, distinctive.
5. collusion (noun) – conspiracy, complicity, collaboration.
6. defraud (verb) –  cheat, rob, deceive/trick.
7. astounding (adjective) – staggering, shocking, surprising.
8. heightened (adjective) – intensified, increased, enhanced.
9. ostensibly (adverb) – apparently, seemingly, allegedly.
10. substandard (adjective) – faulty, defective, poor.
11. default (noun) – non-payment, failure to pay, non-remittance.
12. pile (noun) – large amount, large quantity, abundance.
13. crony capitalism (noun) – it is a term describing an economy in which success in business depends on close relationships between business people and government officials (Courtesy: Wikipedia).
14. unveil (verb) – present, disclose, make public.
15. infuse (verb) – introduce, inject, add.
16. capital-starved (adjective) – relating to Some institutions (PSBs) which deprive of Capital.
17. incur (verb) – experience, be subject to, suffer.
18. recapitalisation (noun) – it is a type of corporate reorganization involving substantial change in a company’s capital structure, especially by replacing debt with stock.
19. tank (verb) – fail completely (particularly at large financial cost).
20. top brass (noun) – very important/famous people in authority.
21. orchestrate (verb) – organize, arrange, plan.
22. lapse (noun) – failure, negligence, oversight.
23. money-laundering (noun) – a secret act of moving illegally acquired funds into legal bank accounts or investments.
24. meteoric (adjective) – rapid, lightning, fast/quick.
25. in the offing (phrase) – on the way, coming soon, likely to happen.
26. buyout (noun) – gaining of control, purchase, acquisition/buying.
27. ramp-up (noun) – boost, increase.
28. circumvent (verb) – bypass, avoid, dodge.
29. fly (noun) – attempt.
30. in the face of (phrase) – despite, notwithstanding, regardless of.
31. due diligence (noun) – careful investigation before signing off a contract.
32. nexus (noun) – link, relationship, connection.
33. set off (phrasal verb) – start out, depart, embark.

Note:   

1. Click each one of the words above for their definition, more synonyms, pronunciation, example sentences, phrases, derivatives, origin and etc from http://www.oxforddictionaries.com/.

2. Definitions (elementary level) & Synonyms provided for the words above are my personal work and not that of Oxford University Press. Tentative definitions/meanings are provided for study purpose only and they may vary in different context. Use it with the corresponding article published on the source (website) via the link provided. 

3. This word list is for personal use only. Reproduction in any format and/or Commercial use of it is/are strictly prohibited.