The hard choice: Banking over banker

The hard choice: Banking over banker

At a time when public confidence in banking has been shaken — 16% of banks’ asset portfolio(निवेश सूची) is stressed(प्रभाव डालना/ज़ोर देना), 11 public sector banks are in need of what banking regulator RBI calls Prompt and Corrective Action, a scam worth several thousand crore rupees has come to light as having been an ongoing practice at the country’s second-largest public sector bank and allegations(आरोपों/अभियोग) of omission(चूक/छोड़ देना), if not commission, at the level of senior bankers at high-profile private sector banks refuse to go away — the government and the RBI appear to have taken the call that individual careers and reputations(प्रतिष्ठा/प्रसिद्धि) can be sacrificed for restoring public confidence in banking, the goal of paramount importance at the moment.It is a tough choice, but it makes sense to err on the side of caution. It is on this ground that the RBI has intervened(हस्तक्षेप किया/बीच में आना) to cut short Shikha Sharma’s term at the helm of Axis Bank.Fairness demands that the regulator treat public sector banks and their chiefs with equal dispassion(उदासीनता), although few of those who presided over the creation(निर्माण/निर्मिति) of assets(संपत्ति) that have turned sour continue to lead their banks.

Fairness also demands that the regulator and the public at large factor in the nonbanking factors turning many loans non-performing.Take the power sector. About 75,000 MW of power generation capacity is in trouble(मुसीबत/चिंतित करना) because coal supply is uncertain(अनिश्चित), regulatory pronouncements(घोषणाओं/राय) have the consistency(संगति/स्थिरता) of quicksand or bankrupt state power utilities fail to enter into or honour power purchase agreements. Banks carry the can for the loans to these projects.At the same time, the RBI and the boards of the banks in question must investigate the circumstances(परिस्थिति/अवस्था) that led to an assessment of subpar management at Axis Bank and other banks.It is important to nail the wrongdoing, if there is any, and, if there is none, to clear the cloud of suspicion hanging over the heads of professionals who have served long and hard in the business of mediating(मध्यस्थता) the public’s savings into credit, enabling thriving(संपन्न) businesses that create jobs, generate investor wealth and returns, pay taxes and drive the nation to prosperity(समृद्धि/सफलता).


Important Vocabulary

1.Omission(चूक/छोड़ देना),
Synonyms: breach, carelessness, exclusion, failing, lapse
Antonyms: success, accomplishment, achievement, allowance, closure

Synonyms: character, fame, honor, influence, name
Antonyms: unimportant, disapproval disbelief, disfavor, dislike

3.Intervened(हस्तक्षेप किया/बीच में आना)
Synonyms: arbitrate, intercede, interfere, involve, meddle
Antonyms: combine, connect, join, leave, unite

Synonyms: assets, capital, chances class, command
Antonyms: debt, poorness, poverty

Synonyms: accomplishment, benefit, boom, expansion, growth
Antonyms: decrease, disadvantage failure, lessening, loss

Synonyms: booming, burgeoning, developing, flourishing, growing
Antonyms: failing, infirm, poor, unhealthy, declining

7.Trouble(मुसीबत/चिंतित करना)
Synonyms: anxiety, concern, danger, difficulty, dilemma
Antonyms: benefit, calm calmness, contentment, ease

Synonyms: firmness, flexibility, texture, bendability, compactness
Antonyms: erratic ism, incongruity, inconsistency, inconstancy, irregularity

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