February 14, 2020 / 12:59 PM / 12 days ago

Indian banks' loans rise over 7% in two weeks to Jan. 31 - RBI

FILE PHOTO: A worker walks past the logo of Reserve Bank of India (RBI) inside its office in New Delhi, July 8, 2019. REUTERS/Anushree Fadnavis/File Photo

BENGALURU (Reuters) - Indian banks’ loans rose 7.1% in the two weeks to Jan. 31 from a year earlier, while deposits increased 9.9%, the Reserve Bank of India’s (RBI) weekly statistical supplement showed on Friday.

Outstanding loans rose 989.26 billion rupees ($13.86 billion) to 101.03 trillion rupees in the fortnight to Jan. 31.

Non-food credit rose 1.02 trillion rupees to 100.24 trillion rupees, while food credit fell 32.02 billion rupees to 788.99 billion rupees.

Bank deposits rose 1.98 trillion rupees to 133.24 trillion rupees.

($1 = 71.3695 Indian rupees)

Reporting by Philip George; Editing by Subhranshu Sahu

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