Banks' loan growth inches closer to RBI's FY14 estimate

MUMBAI Wed Dec 11, 2013 8:01pm IST

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai October 29, 2013. REUTERS/Danish Siddiqui/Files

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai October 29, 2013.

Credit: Reuters/Danish Siddiqui/Files

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MUMBAI (Reuters) - Banks' loan growth moved closer to the Reserve Bank of India's full-year projection, provisional data released by the central bank showed on Wednesday.

Bank loans grew around 13.8 percent to 76.94 trillion rupees, while deposits rose 11 percent to 58.43 trillion rupees from March 22 to November 29, the provisional data showed.

The RBI projects loans to grow at 15 percent and deposits by 14 percent in the current fiscal year ending in March 2014.

(Reporting by Himank Sharma; Editing by Rafael Nam)

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