Banks' loan growth picks up on demand from retail borrowers
MUMBAI (Reuters) - Banks' loan growth improved in the first two months of the second half of the fiscal year as demand from home loan and retail borrowers picked up.
Bank loans grew 3.1 percent to 49.6 trillion rupees during October-November from 2.2 percent in the April-September period, according to the Reserve Bank of India data released on Wednesday.
"I think the remaining four months in the fiscal year will be good and will cover up for the last few months," said T.M. Bhasin, chairman and managing director at state-run Indian Bank.
However, deposit growth remained muted in October-November at 0.5 percent against growth of about 5 percent in the first half, due to festive season currency withdrawal. (Reporting by Suvashree Dey Choudhury; Editing by Jijo Jacob)
- Tweet this
- Share this
- Digg this
- U.S. plans to arm Iraq's Sunni tribesmen with AK-47s, RPGs, mortars
- China building South China Sea island big enough for airstrip - report
- Bighorn sheep escapes Los Angeles Zoo, dies after car strikes it
- Apple $450 mln e-book settlement gets final court approval
- India approves $2.6 bln mounted gun purchase - official
India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article