Banks' loan growth picks up on demand from retail borrowers

MUMBAI Wed Dec 12, 2012 7:24pm IST

Indian currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files

Indian currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012.

Credit: Reuters/Vivek Prakash/Files

Related Topics

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Global Trade Deal

Global Trade Deal

Rural votes, old traumas drive India's WTO brinkmanship.`  Full Article 

E-Commerce Funding

E-Commerce Funding

E-tailer Flipkart raises $1 billion in funding.  Full Article 

Adani Project

Adani Project

Australia approves Adani's $16 bln Carmichael coal project  Full Article 

New Frontiers

New Frontiers

EXCLUSIVE - Goldman moves executive to new role building ETFs.  Full Article 

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Argentina Debt Default

Argentina Debt Default

Insight - Jaded Argentines brace for looming debt default   Full Article 

Anti-trust Probe

Anti-trust Probe

Microsoft targeted in apparent Chinese anti-trust probe  Full Article 

Gaza Conflict

Gaza Conflict

Israel strikes house of Hamas Gaza leader, digs in for long fight.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage