Indian Banks’ Loans Rose by 272.7 Billion Rupees in Two Weeks

Indian banks’ loans rose by 272.7 billion rupees in the two weeks ended Nov. 19, raising outstanding advances to 35.6 trillion rupees, according to central bank data.

Loans to industry and consumers rose 230.1 billion rupees during the period, while food credit advanced 42.6 billion rupees, the Reserve Bank of India said in an e-mailed statement in Mumbai today. Deposits rose 393.8 billion rupees in the two weeks ended Nov. 19 to 48.5 trillion rupees.

Credit rose 22.7 percent, or by 6.58 trillion rupees, in the 12 months through Nov. 19. Total bank deposits rose 15.8 percent, or 6.6 trillion rupees in the period, according to the statement.

To contact the reporter on this story: V Ramakrishnan in Mumbai at rvenkatarama@bloomberg.net

To contact the editor responsible for this story: James Regan at jregan19@bloomberg.net

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