2020年经济学人 印度银行--当是意味着不是(1)

India, which has few declared cases of covid-19, has not escaped the turmoil¹ in global markets.

印度几乎没有公布covid-19病例情况，但也未能逃脱全球市场的动荡。

On March 9th its stock-markets suffered their biggest one-day fall in absolute terms ever,

3月9日，尽管低油价会对一个能源进口大国产生积极影响，

notwithstanding the positive impact low oil prices should have on a big energy importer. Its problems go beyond people's health.

但印度股票市场的绝对价值却出现了有史以来最大的单日跌幅。印度的问题远不仅是人民健康的问题。

On March 6th a different crisis came to a head when a government-controlled but publicly listed lender,

3月6日，当一家由政府控制的公开上市银行——印度国家银行（SBI）

State Bank of India (SBI), threw a lifeline to Yes Bank, once a darling of the stock-market,

向曾经的股市宠儿Yes银行抛出了救生索，另一场危机到了紧要关头，

which now faced a scramble² to withdraw deposits. It was India's second banking³ scare in six months.

后者现在正面临挤兑。这是印度6个月来出现的第二次银行业恐慌。

It raises questions about who is safeguarding the financial system.

这引发了有关谁在保护金融体系的问题。

Yes's problems are hardly new. As far back as 2013 concerns were raised by a small group of sceptics at the Reserve Bank of India (RBI),

Yes银行的问题并不新鲜。早在2013年，印度中央银行——印度储备银行（RBI）的一小群怀疑者就提出了这样的担忧：

the central bank, that Yes, then a nine-year-old institution, had grown at an extraordinary rate while reporting only a trivial number of bad loans,

尽管Yes银行（当时一家成立9年的机构）向一些陷入困境的印度公司发放了贷款，但它在公布少量不良贷款的同时，

even though it lent to some of India's most troubled companies.

仍以惊人的速度增长。

Its name was widely understood to contrast it with stodgier⁴ operators too willing to say "no". Investors⁵ were entranced.

人们普遍认为，它的名字和那些不愿意说“不”的古板运行商形成了鲜明对比。投资者们非常开心。

Yes's share price went on a tear. At its peak in 2017 it was valued at $13.4bn,

Yes银行的股价一路飙升。在2017年的巅峰时期，它的估值为134亿美元，

making its cofounder and chief executive, Rana Kapoor, a billionaire.

这使其共同创始人兼董事长Rana Kapoor成为了一名亿万富翁。

By 2019 reality had set in. The RBI forced Mr Kapoor out of his job and new management reported a pile of bad loans.

到2019年，现实到来。RBI迫使Kapoor下台，新的管理层报告了一堆坏账。

A search for desperately⁶ needed new capital failed to satisfy regulators,

对新资本的迫切寻求未能满足监管机构的要求，

prompting the RBI on March 5th to depose⁷ Mr Kapoor's successor and the bank's board in favour of its own caretaker regime.

促使RBI于3月5日罢免了Kapoor的继任者，并且银行董事会支持自己的看守政权。

A series of dramatic actions followed. Deposit withdrawals⁸ were capped at 50,000 rupees ($670).

后续采取了一系列戏剧性的行动。提款上限设置为为5万卢比（670美元）。

Then SBI stepped in, agreeing to inject $330m as part of a $1.5bn resolution plan in exchange for up to 49% of Yes's shares,

SBI介入，同意注入3.3亿美元作为15亿美元解决方案的一部分，以换取Yes高达49%的股份，

as well as the cancellation⁹ of $1.2bn of bonds on Yes's balance-sheet.

并取消Yes资产负债表上12亿美元的债券。

1 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

2 scramble   

v.爬行，攀爬，杂乱蔓延，碎片，片段，废料

参考例句：

• He broke his leg in his scramble down the wall.他爬墙摔断了腿。
• It was a long scramble to the top of the hill.到山顶须要爬登一段长路。

3 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

4 stodgier   

adj.（食物）吃下去感觉撑的( stodgy的比较级 )；易饱的；滞涩的；古板的

参考例句：

5 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

6 desperately   

adv.极度渴望地，绝望地，孤注一掷地

参考例句：

• He was desperately seeking a way to see her again.他正拼命想办法再见她一面。
• He longed desperately to be back at home.他非常渴望回家。

7 depose   

vt.免职；宣誓作证

参考例句：

• The witness is going to depose.证人即将宣誓做证。
• The emperor attempted to depose the Pope.皇帝企图废黜教皇。

8 withdrawals   

n.收回，取回，撤回( withdrawal的名词复数 )；撤退，撤走；收回[取回，撤回，撤退，撤走]的实例；推出（组织），提走（存款），戒除毒瘾，对说过的话收回，孤僻

参考例句：

• He has made several withdrawals from his bank account. 他从银行账户上提了几次款。 来自《简明英汉词典》
• It is not the bank's policy to deduct interest on withdrawals. 提款需扣除利息这并非是本银行的政策。 来自辞典例句

9 cancellation   

n.删除，取消

参考例句：

• Heavy seas can cause cancellation of ferry services.海上风浪太大，可能须要取消渡轮服务。
• Her cancellation of her trip to Paris upset our plan.她取消了巴黎之行打乱了我们的计划。