The Finance Ministry’s unequivocal missive to 10 state-owned lenders to submit time-bound turnaround plans, or forsake any further capital infusion from the government, is a small yet timely step in the right direction. For further reading, visit “The Hindu”.
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Courtesy: The Hindu
- turnaround plan/strategy (noun) – a plan or strategy to stop a company’s poor performance and to recover it as financially successful.
- strive (verb) – make an effort, try hard, aim/attempt.
- unequivocal (adjective) – unambiguous, unmistakable, indisputable.
- missive (noun) – message, communication, notification/announcement.
- time-bound (adjective) – relating to a certain moment or era in time.
- forsake (verb) – renounce, give up, abandon, discard.
- Capital infusion (noun) – Often refers to the cross-subsidization of divisions within a firm . When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions.
- flag (verb) – indicate, signal, point out.
- deterioration (noun) – worsening, decline, collapse/failure.
- administer (verb) – manage, direct, control/regulate.
- tough love (noun) – A political policy designed to encourage self-help by restricting Governmental benefits.
- come to a (pretty) pass (phrase) – reach a bad/regrettable condition.
- fester (verb) – suppurate, become septic, form/secrete pus (spoil, deteriorate, degrade).
- amputation (noun) – the (surgical) act/procedure of cutting off (a limb-leg/hand)
- harness (verb) – use, utilise, make use of.
- revolving door (noun) – happening of some actions/events again and again continuously.
- redress (verb) – rectify, correct/set right, reform/improve.
- burgeoning (adjective) – growing/increasing rapidly, mushrooming, snowballing/skyrocketing.
- ultimatum (noun) – order, rule, decree/command.
- vested interest (noun) – personal/private interest of a person/group.
- in concert with (phrase) – in combination with, in collaboration with, in cooperation with.
- haircut (noun) – write-down (a reduction in the estimated or nominal value of an asset) on the value of debt.
- stipulation (noun) – condition, provision, prerequisite.
- have one’ work cut out (phrase) – to have a tough task.
- spectre plural form of spectrum (noun) – a wide range.
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