The Hindu Editorial (Serious setback) – Apr 04, 2019

The Supreme Court order quashing a circular issued by the RBI on resolution of bad loans is a setback to the evolving process for debt resolution. For further reading, visit “The Hindu”. Below is today’s word list-2 for The Hindu Editorial (Serious setback) – Apr 04, 2019.

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Courtesy: The Hindu

Today’s word list-2 for The Hindu Editorial (Serious setback) – Apr 04, 2019:

setback (noun) – problem, difficulty, issue.
set aside (phrasal verb) – annul, overrule, nullify/cancel.
quash (verb) – cancel, reverse, repeal.
undo (verb) – revoke, cancel, negate.
debt resolution (noun) – debt settlement; an attorney negotiated agreement between the debtor & creditor that the debtor can pay off a either percentage of overall debt or a reduced balance in full.
void (verb) – invalidate, annul, nullify.
aggregate (verb) – combine, merge/unite, consolidate.
default (noun) – non-payment, failure to pay, non-remittance.
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.
mount (verb) – increase/rise, escalate, soar.
sour/bad loans (noun) – non-performing assets (NPAs), stressed assets/loans; an account where principal and/or interest remains overdue for a period of time.
dent (noun) – reduction, depletion, deduction.
directive (noun) – instruction, direction, regulation.
nexus (noun) – junction/juncture, link; central point.
defaulter (noun) – a person who is (purposefully) not repaying banks/lenders’ debt on time for various reasons.
content (adjective) – satisfied, pleased.
drag into (phrasal verb) – involve in a matter unnecessarily.
take into account (phrase) – consider, bear in mind, heed/note.
peculiarity (noun) – incongruity, irregularity, abnormality.
come up with (phrasal verb) – submit/suggest, propose, put forward.
one-size-fits-all (adjective) – suitable for/used in all circumstances.
deliberate (adjective) – intentional, considered, predetermined.
externality (noun) – consequence, result/outcome, repercussion/reverberations.
hard line (noun) – uncompromising commitment.
heed (verb) – pay attention to, take notice of, consider/notice.
slacken (verb) – loosen, slow down, weaken.
bond market (noun) – debt market; the market where debt instruments (like bonds (government or corporate) and mortgages) are traded.
leeway (noun) – freedom, scope/flexibility, latitude/elbow room.
undone (adjective) – unfinished, incomplete, half-done.