“What people are looking for is someone to explain life tothem. But there is no explanation and nothing to explain.”

Marty Rubin 03EXPLAINER

NAMES, PLACES & TERMS

The Reserve Bank of In-dia has placed Yes Bankunder MORATORIUM.

Yes Bank customers cannotmake regular withdrawals ofmore than `50,000 a day tillApril 3, subject to a maximumof `5 lakh.

WHAT IS A MORATORIUM?Moratorium means suspension

of activity. Legally, it is an authorisedperiod of delay in the performanceof a legal obligation or the paymentof a debt.

HOW DOES A MORATORIUM WORK?A moratorium is a temporary sus-

pension of an activity or a law untilfuture events warrant lifting the sus-pension or related issues have been re-solved. A moratorium may be imposedby a government or by a business.

How did Yes Bank reach this stage?

1It went on a loaning spree betweenFinancial Year 2014 and 2019

2Many borrowers started default-ing. The bank’s gross non-per-

forming asset percentage, that is thepercentage of loans overdue for morethan 90 days, zoomed to 7.39% as ofSeptember 2019, the highest amongcomparable banks.

3While bad loans piled up, the bankdid not make enough provisions in

its profits.

4Customers withdrew largeamounts, resulting in the

credit-deposit ratio crossing 100% in 2018-19. That is, it lent more than it received.

5The bank’s stock price fell steadi-ly in the past year.

WILL YES BANK’S FALL AFFECT OTHERS?The banking system runs on trust. The Yes Bank episode could likelypush depositors away from private sec-tor banks.

1 YES BANK CRISIS: HOW DID IT EMERGE?

B efore Yes Bank founder RanaKapoor could shift his base fromIndia to any foreign country, the

Enforcement Directorate (ED) took himin its custody and his plan to sell histhree Delhi-based properties amountingover `1,000 crore failed.The three properties —40, AmritaShergill Marg; 18 Kautilya Marg,

Chanakya Puri; and in the DiplomaticEnclave on Sardar Patel Marg — are notdirectly linked to Kapoor but officialssaid he had tasked some top propertydealers here for hunting some buyers tosell these assets to.It is learnt that all the properties arelinked to Kapoor’s wife Bindu Kapoor,who is also under the scanner as ED

probes suspi-cious transac-tions ofaround`4,300crore.Bindu Kapoorbought a luxu-rious bunglow at40, AmritaShergill Marg — aprime location inLutyens’ Delhi — in the nameof her company Bliss Abode Ltd whilethe other two properties belong to BlissVilla (Delhi) Private Ltd.Known for a flamboyant lifestyle andpenchant for publicity, Kapoor, sourcessaid, wanted to shift his base in the US,the UK or France by selling properties inDelhi and Mumbai soon after he got tipoff about ED’s investigation against him.

THREE PLUSH DELHI PROPERTIES UNDER ED LENS

Y es Bank founder Rana Kapoorwas placed under arrest by theEnforcement Directorate on

March 8. The CBI has issued a look outcircular against Kapoor’s wife Bindu andtheir three daughters.The ED, as well as the CBI, have regis-tered separate cases against RanaKapoor, his wife, their three daughters —Rakhee Kapoor Tandon, Roshni Kapoor and

Radha Kapoor, and DewanHousing Finance Ltd (DHFL)promoter Kapil Wadhwan forhatching a criminal conspir-acy from April to June2018. They extended finan-cial assistance to DHFL byYes Bank Ltd. For this, theKapoors were paid kickbacks of `600 crore.

You know the news,but did some terms puzzle

you? On this page, we explain theterms used in news or by our

newsmakers. Figure out why thenames, places and terms became

the actual newsmakers this week.

Aday after quitting the Congress, four-timeMP and former union minister JYOTIRA-DITYA SCINDIA joined the BJP in presence

of party chief JP Nadda this week.Scindia walked out of Congress

along with 22 state legislators,pushing the Congress-led gov-ernment in Madhya Pradesh onthe brink of collapse. Scindiahad posted his resignation let-ter on Twitter minutes aftermeeting Prime Minister Naren-dra Modi along with UnionHome Minister Amit ShahTuesday morning.

2 JYOTIRADITYA SCINDIA JOINS BJP

Jyotiraditya Scindia is the grandson of late Vijaya Raje Scindia,the chief matriarch of Gwalior’s royal family. Vijaya Raje firstcontested the Lok Sabha elections in 1957, and won the Gunaseat for the Congress. She continuedher winning streak, this time fromGwalior in 1962. However, she quit theCongress due to differences with thethen CM of Madhya Pradesh, DPMishra. Over 35 MLAs broke away withher and formed a coalition govern-ment in 1969. In 1971, Vijaya Rajehelped the Jan Sangh win three seatsin Gwalior, Guna and Bhind.

ROYALTY AND POLITICAL LEGACYEMERGENCY AND AFTER — SPLIT IN THE FAMILYDuring the emergency, Vijaya Raje was put in jail likemany other prominent leaders of the Opposition byIndira Gandhi. She shared her cell with another royal

figure and prominent opposition face— Gayatri Devi of Jaipur. Eventually,she became part of the Janata Partythat defeated Indira’s Congress in1977 in the first-ever rout witnessedby the Nehru-Gandhi family. However,by 1979, the government and JanataParty were tethering, and that waswhen her son, Madhav Rao Scindia,ended up with the Congress.

Madhav Rao was sidelined repeatedly for theposition of Madhya Pradesh’s Chief Minister,first due to the efforts of Arjun Singh in 1989,and later due to the actions of Digvijay Singhin 1993. By that time, he was a minister into the PVNarasimha Rao-led Congress government.Shortly before the 1996 elections though,

Madhav Rao resigned after his namefigured in the Jain hawala diaries.

Congress denied him a ticket inthe Lok Sabha elections of April-May 1996, and he ended up cre-ating his own Madhya PradeshVikas Congress

(MPVC). Hedefeated the offi-

cial Congress candi-date against him in Gwalior toenter Lok Sabha for the sev-enth time.In contrast, Vijaya Rajeended up as one of thefounding figures of theBJP, the successor ofthe Jan Sangh, givinglegitimacy to theparty. Her daughters,Yashodhara Raje andVasundhara Raje,have been prominentBJP members.

Two of the three extreme-ly rare WHITE GIRAFFEShave been killed by poach-

ers in Kenya, the BBC reportedquoting wildlife conservation-ists. The carcasses of a femalegiraffe and her calf were foundin Kenya’s Garissa County, ac-cording to the report.

Wildlife conservationiststold the BBC that the third whitegiraffe is thought to be the onlysurviving one in the world.

3 POACHERS KILL TWO WHITE GIRAFFES IN KENYAAND NOW THERE IS JUST ONE IN THE WORLD

producing pigment in all organs, and ani-mals with this condition often have pinkeyes. ➤ The white giraffes were firstspotted in 2016, according to theIshaqbini Hirola Community Conservancywebsite. ➤ Despite their inabil-ity to

produce colourful pigment, giraffes withleucism don’t face genetic disadvantagesto their survival, but their colour canattract unwanted attention. ➤ More thanhalf of all giraffes don’t make it past sixmonths of age, as per the GiraffeConservation Foundation. They’re target-

ed by predators such aslions and hyenas.

WHITE GIRAFFES:➤ While many have beenquick to label the giraffe asalbino, it suffers from a genet-ic condition called leucism,which inhibits skin cells fromproducing pigment but allowsother organs, like eyes, to bedark coloured. ➤ Albinism, a congenital con-dition, inhibits the body from

As night falls in London,Georgina Rowlands and Anna Hart start ap-

plying makeup. Instead of lip-stick and eyeliner, they’re cov-ering their faces with geomet-ric shapes.

Rowlands has long narrowblue triangles and thin whiterectangles criss-crossing herface. Hart has a collection ofred, orange and white angularshapes on hers. They’re two ofthe four founders of the Daz-zle Club, a group of artists setup last year to provoke dis-cussion about the growing us-ing of FACIAL RECOGNITIONTECHNOLOGY.

How it worksThe technique, developedby artist and researcher AdamHarvey, is aimed atcamouflaging against facialdetection systems, which turnimages of faces intomathematical formulas thatcan be analysed byalgorithms. CV Dazzle —whereCV is short for computervision — uses cubist-inspireddesigns to thwart thecomputer.

A similar technique wasused extensively in World WarI to camouflage British navalships and confuse opponentsabout the actual heading or lo-cation of the ships.

What is it?Facial recognition is a

way of recognising ahuman face through

technology. A facialrecognition system

uses biometrics to map facial

features from ap h o t o g r a p h or video.Themarket isexpected togrow to $7.7billion in2022 from$4 billionin 2017.

4 WITH PAINTED FACES, ARTISTSFIGHT FACIAL RECOGNITION TECH

HERE ARE THE BASIC STEPS:

STEP 1 A picture of yourface is captured from aphoto or video. STEP 2 Facial recognitionsoftware reads the geome-try of your face. The soft-ware identifies facial land-marks.STEP 3 Your facial signa-ture - a mathematical for-

mula - is compared toa database of

known faces. STEP 4 A deter-

mination is madeas faceprint

matches thatof an image

in systemdatabase.

SECURITY: Your facial datacan be collected and stored,often without your permis-sion. It’s possible hackerscould access and steal that data.PREVALENCE: Facial recogni-tion technology is becomingmore widespread. Thatmeans your facial signaturecould end up in a lot ofplaces. You probably won’tknow who has access to it.OWNERSHIP: You own yourface but your digital imagesare different. If someonetracks down images of youonline, he can sell the data.SAFETY: It could lead toonline harassment/ stalking.

WHY IS IT A PRIVACY CONCERN?