Indian bank loans up 16.6pc

MUMBAI: Indian bank loans rose 16.6 percent from a year earlier in the two weeks to Aug. 9, while deposits were up 13 percent, the Reserve Bank of India's weekly statistical supplement showed on Friday.

Outstanding loans rose 1.04 trillion rupees ($16.25 billion) to 55.09 trillion rupees in the two weeks to Aug. 9.

Non-food credit rose 965.4 billion rupees to 54 trillion rupees, while food credit advanced 72.7 billion rupees to 1.08 trillion rupees.

Bank deposits rose 168.5 billion rupees to 71.04 trillion rupees in the two weeks to Aug. 9.