Dud or near distinction?

Thomas Mathew, joint secretary, capital markets, is always ready with free advice for the press. Last week, it turned out to be a language class on the English word “dud”. Mathew did not like the media description of the auction of government securities to foreign institutional investors as a “dud” because only 72 per cent of the auction was subscribed. An angry Mathew said, “In my entire education no one taught me that 72 per cent was a dud. I passed from Kendriya Vidyalaya. Maybe people who went to public schools would know better.” Mathew went on to explain under his education system, 75 per cent was distinction and 72 per cent was near distinction. “If I meet any of my teachers, some of whom may be alive, I would ask them why did they not tell me the real meaning of dud,” he went on. Perhaps he is unaware of the cut-off marks for university admission these days, which are nothing short of the nineties.