The Reserve Bank of India (RBI) has raised its policy rate for the first time in about four years. The move will eventually (1) prompt lenders to hike interest rates. The common man will have to (2) bear the brunt of increased EMIs for purchasing property or car. Interestingly, pre-empting the move, some banks had raised their benchmark rates last week and others will follow suit. This is because the RBI has raised by 0.25 per cent the repo rate- the rate at which it lends money to commercial banks. The RBI uses several instruments, including the repo rate and the reverse repo rate, to manage money supply in the economy to check inflation. The bimonthly monetary policy of the RBI is a (3) tightrope walk. It is essentially a trilemma where the Monetary Policy Committee (MPC) has to (4) juggle with three key elements — inflation, growth and currency. Apparently, in the present circumstances, all the three are (5) incongruous.
Most of the economic analysts and market enthusiasts were in favor of the RBI maintaining a (6) status quo and giving a chance to growth for two more months. They were fully aware that the constantly rising inflation that had surpassed the 4 per cent comfort zone was a cause of worry, but they had hoped that the RBI would wait and see the impact of an expected good monsoon before (7) tinkering with the interest rate as inflation was nowhere around the alarming level. The RBI has tried to justify the rate hike by citing examples of other Asian economies. While China, the Philippines and Indonesia have recently raised their (8) benchmark rates, the US Fed is expected to hike the interest rate in its next policy meeting. The rate hike would slow economic growth. Even details provided by the central bank show that the state of the economy is not in good shape and it is facing some serious (9) headwinds. The RBI has increased the policy rate and kept the stance “neutral”. This is a sign of hope as well as despair. (10) The devil is in the detail, which will be decoded only after the RBI publishes the minutes of the MPC on June 20.
1. PROMPT (verb) प्रेरित करना
Meaning: (of an event or fact) cause or bring about an action.
Synonyms: cause, occasion, result in, lead to, elicit, produce, bring on, engender, induce, call forth, evoke, precipitate, trigger, spark off, provoke, instigate.
Antonyms: impede, limit, restrict, quash, quell, repress, smother, squash, squelch, stifle, subdue, suppress, curb, inhibit, restrain, retard, deter.
2. BEAR THE BRUNT OF (idiom) खामियाजा उठाना
Meaning: To suffer the worst part of an unpleasant or problematic situation.
Usage: When our system crashed, the call center employees bore the brunt of our customers’ anger.
3. WALK A TIGHTROPE (idiom) नाजुक परिस्थिति से गुज़रना
Meaning: to be in a situation where one must be very cautious.
Usage: Since there’s been talk of layoffs, I’ve been walking a tightrope at work to prove how valuable I am.
4. JUGGLE (verb) हथकंडा करना
Meaning: to handle or deal with usually several things (such as obligations) at one time so as to satisfy often competing requirements.
Synonyms: arrange, maneuver, hoax, fetch, device, take in, artifice, shuffle, dodge, catch, humbug, bamboozle, conjure.
Antonyms: neglect, debunk, expose, reveal, show up, uncloak, uncover, unmask
disclose, divulge, disenchant, disillusion, undeceive.
5. INCONGRUOUS (adjective) असंबद्ध
Meaning: not in harmony or keeping with the surroundings or other aspects of something.
Synonyms: inappropriate, discordant, dissonant, conflicting, clashing, jarring, in opposition, contrary, contradictory, irreconcilable, absurd, bizarre, extraneous, inconsistent, incompatible.
Antonyms: akin, similar, accordant, agreeing, compatible, concordant, conformable, congruent, congruous, consistent, consonant, harmonious.
6. STATUS QUO (noun) यथापूर्व स्थिति
Meaning: the existing state of affairs, especially regarding social or political issues.
Synonyms: normalcy, circumstances, conditions, status, situation, usual, norm, posture.
Antonyms: lapse, reverse, disorderliness, disruptiveness, disruption, disturbance, anomalousness, deviance, exceptionalness, abnormality.
7. TINKER (verb) ठीक करना
Meaning: to try to repair or improve something by making small changes or adjustments to it
Synonyms: fiddle, mess, putter, meddle, dabble, fidget, doodle, repair, puddle, dally, twiddle, tamper.
Antonyms: blight, deface, bust, grub.
8. BENCHMARK (noun) मानदण्ड
Meaning: a standard or point of reference against which things may be compared.
Synonyms: standard, basis, gauge, criterion, specification, canon, convention, guideline, norm, touchstone, yardstick, measure, model, exemplar, paradigm, prototype, ideal.
Antonyms: aberration, abnormality, deviation, guess, supposition, estimation.
9. HEADWINDS (noun) विपरीत परिस्थितियां
Meaning: A wind blowing directly against the course of a moving object or a source of resistance, as to progress or success.
Synonyms: windstorm, gust, gale, crosswind, mistral, sirocco, sandstorm.
10. THE DEVIL IS IN THE DETAIL (idiom) जांच पड़ताल करना
Meaning: Plans, actions, or situations that seem sound must be carefully examined, because minor details can end up causing major, unforeseen problems.
Usage: Double check your code—with software, the devil is in the details.