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The reason India's banks show massive credit offtake before the end of a fiscal

The reason India's banks show massive credit offtake before the end of a fiscal

Finance
KOLKATA: Indian banks have reported credit offtake of a massive Rs 2.76 lakh crore in the last fortnight of FY18, Reserve Bank of India data showed. There is a possible catch though. It's unlikely that the demand for bank loans has suddenly risen to the roof as the data suggested. It's perhaps the usual dressing up of balance sheet before the close of the fiscal known as window dressing in financial parlance. "This credit offtake data does not reflect the demand for bank loans. It's the year-end phenomenon where everybody pushes up their balance sheet," said Madan Sabnavis, chief economist at CARE Ratings. Credit offtake during the preceding fortnight was about Rs 31,000 crore. The last fortnight credit figure was Rs 40000 crore less than what it was in the corresponding fortnight in FY17,...
Kinder Morgan’s attempt to build a pipeline reflects badly on Canada

Kinder Morgan’s attempt to build a pipeline reflects badly on Canada

Finance
ALMOST all Canada’s oil and gas is landlocked, so getting it to market requires pipelines—lots of them. But building them requires skills more suited to circus artists than engineers. They must walk the financial high wire, jump through ever-changing regulatory hoops and juggle conflicting demands from environmental groups and numerous governments. The list of failures is long. It includes Northern Gateway, meant to bring Alberta crude to a port in northwestern British Columbia; Energy East, which would have linked Alberta to the Atlantic coast; Pacific Northwest, to bring gas to the west coast; and the legendary Mackenzie Valley gas pipeline, first proposed in 1974 and dropped in 2017 by its last, exhausted promoter.Get our daily newsletterUpgrade your inbox and get our Daily Dispatch and
Channel that anxiety to avoid making bad investment decisions

Channel that anxiety to avoid making bad investment decisions

Finance
It's repeatedly been said that to succeed in the stock market, you must be cool, calm and collected. That's good advice. Unless you happen to be a human with emotions.And if you're one of those (and an investor), this year is likely to have unnerved you, financial experts say.Take this month, for example: On April 4, the Dow Jones Industrial Average rallied 700 points. Two days later it plunged more than 500 points. Trying to remain unfazed by your dropping profits is unlikely to work, said Sarah Asebedo, president of the Financial Therapy Association and a certified financial planner."Instead of 'Don't let emotions get in the way,' I'd say, 'The emotions are there. Recognize what they are and then take actions to combat them,'" she said.Here's how to emotionally tolerate the stock market'...