Indian bank loans up 14.1pc

MUMBAI: Indian bank loans rose 14.1 percent from a year earlier in the two weeks to May 31, while deposits were up 13.4 percent, the Reserve Bank of India's weekly statistical supplement showed on Friday.

Outstanding loans rose 488.4 billion rupees ($8.5 billion) to 53.79 trillion rupees in the two weeks to May 31.

Non-food credit rose 509.3 billion rupees to 52.61 trillion rupees, while food credit fell 20.9 billion rupees to 1.18 trillion rupees.

Bank deposits rose 922.3 billion rupees to 69.67 trillion rupees in the two weeks to May 31, the supplement showed.