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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,...
Reptile with massive jaws lived in Connecticut 200 million years ago

Reptile with massive jaws lived in Connecticut 200 million years ago

Science
March 23 (UPI) -- Some 200 million years ago, what's now Connecticut was home to a massive-mouthed reptile. According to new research published in the journal Nature Communications, the jaws of Colobops noviportensis were much larger than those of other reptiles from the Triassic.Even compared to today's diversity of reptiles, the ancient lizard-like species boasted an impressively large bite -- especially considering the reptile' small size."Colobops would have been a diminutive but plucky little beast, part of a little-known menagerie of small animals that lived among the first dinosaurs," Bhart-Anjan Bhullar, assistant professor and assistant curator in geology and geophysics at Yale University, said in a news release. "Despite its lizard-like aspect, it is in fact an early branch-off o...
SpaceX set to launch massive Falcon Heavy rocket

SpaceX set to launch massive Falcon Heavy rocket

Technology
SpaceX is launching arguably its most daring mission to date Tuesday, when the Falcon Heavy rocket takes off on its first test flight. The Falcon Heavy rocket is massive, larger than anything that has launched since NASA's Saturn V missions, which took people to the moon. The rocket's target launch is set for Tuesday at 1:30 p.m. ET from Cape Canaveral, Florida, with a 2.5-hour launch window. There are windows scheduled on Wednesday and Thursday as well, in case Tuesday's launch doesn't work. Thousands of excited viewers are already lining up along the Florida coast to witness the event. Even actor Harrison Ford will be in attendance -- the Falcon, after all, is named after his Millennium Falcon from "Star Wars." This is a private mission funded by billionaire Elon Musk, CEO of SpaceX -...
Scientists find massive Mayan society under Guatemala jungle

Scientists find massive Mayan society under Guatemala jungle

Technology
Researchers using a high-tech aerial mapping technique have found tens of thousands of previously undetected Mayan houses, buildings, defense works and pyramids in the dense jungle of Guatemala's Peten region, suggesting that millions more people lived there than previously thought. The discoveries, which included industrial-sized agricultural fields and irrigation canals, were announced Thursday by an alliance of U.S., European and Guatemalan archaeologists working with Guatemala's Mayan Heritage and Nature Foundation. The study estimates that roughly 10 million people may have lived within the Maya Lowlands, meaning that kind of massive food production might have been needed. "That is two to three times more (inhabitants) than people were saying there were," said Marcello A. Canuto, a p...
Tax bill provisions may help parents defray this massive cost

Tax bill provisions may help parents defray this massive cost

Finance
A few breaks in the tax overhaul may soften the blow of sky-high child care expenses.The Tax Cuts and Jobs Act, the GOP's overhaul of the tax code, includes an enhancement of the child tax credit, doubling it to $ 2,000 per qualifying child.Lawmakers also expanded the availability of the child tax credit to higher-income earners: This break will begin to phase out for taxpayers who are married and filing jointly with adjusted gross income of $ 400,000 ($ 200,000 for singles). Under current law, the child tax credit begins to phase out at $ 110,000 for joint filers who are married and $ 75,000 for singles.Further, lawmakers have kept the child and dependent care credit, which can be worth up to $ 1,050 for one child under age 13 or $ 2,100 for two kids under 13.Finally, the bill leaves int...