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India Bank Loans Rose 188.6 Billion Rupees in 2 Weeks to Sept 23

Indian banks’ loans rose by 188.6 billion rupees ($3.8 billion) in the two weeks ended Sept. 23. The outstanding advances stood at 40.9 trillion rupees, according to central bank data.

Loans to industry and consumers rose 240.3 billion rupees during the period, while food credit declined 51.7 billion rupees, the Reserve Bank of India said in an e-mailed statement today. Deposits increased 82.3 billion rupees in the two week period to 55.3 trillion rupees.

Credit rose 19.5 percent, or by 6.67 trillion rupees, in the 12 months through Sept. 23, according to the statement.

To contact the reporter on this story: Tushar Dhara in New Delhi at tdhara1@bloomberg.net

To contact the editor responsible for this story: Pradeep Kurup at pkurup3@bloomberg.net

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