A deeper malady – The Hindu (Feb 21 2018)

Barely days after news of the ₹11,500 crore fraud at Punjab National Bank broke, another but very different scam of a ₹3,695 crore wilful loan default has surfaced. For further reading, visit “The Hindu”.

Courtesy: The Hindu

malady (noun) – a serious problem.
breakdown (noun) – failure, collapse, disintegration/foundering.
wilful default (noun) – a condition of purposefully not repaying banks/lenders’ debt on time for various reasons.
surface (verb) – arise, appear, come up.
consortium (noun) – union, league, syndicate/corporation.
siphon off (phrasal verb) – draw off, extract, remove (money illegally).
disburse (verb) – pay out, give, spend/expend.
lie (verb) – consist, be present, exist/be found.
avail (verb) – help, aid, assist/profit.
complicit (adjective) – relating to an act of involving with others in a crime or unfair activity.
commission (noun) – perpetration, committal, execution (of a crime).
non-performing assets (NPAs) (noun) – bad loans, toxic/ troubled assets;stressed assets/loans; an account where principal and/or interest remains overdue for a period of time.
malfeasance (noun) – wrongdoing, deceit, falseness.
oblivious (adjective) – unaware, heedless, unconcerned.
vest with (verb) – bestow/confer on, grant to, give to.
keep an eye on (phrase) – careful monitoring, scrutiny, examination.
reiterate (verb) – repeat, say again, restate.
infuse (verb) – introduce, inject, add.
empower (verb) – authorize, allow, entitle.
lapse (noun) – failure, negligence, oversight.
salutary (adjective) – beneficial, advantageous, productive/practical.

Note:

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