Indian bank loans up 15pc in two weeks

MUMBAI: Indian bank loans grew 15 percent from a year earlier in the two weeks to May 3, while deposits were up 13.5 percent, the Reserve Bank of India's weekly statistical supplement showed on Friday.

Outstanding loans rose 509.5 billion rupees to 53.41 trillion rupees ($972.7 billion) in the two weeks to May 3.

Non-food credit rose 311.2 billion rupees to 52.25 trillion rupees, while food credit rose 198.3 billion rupees to 1.16 trillion rupees during the period.

Bank deposits rose 450.8 billion rupees to 68.84 trillion rupees in the two weeks to May 3, the supplement showed.