Reserve Bank of India Bank Loans Provisional up 20.2%

23 August 2011 - Which Way to Pay

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Reserve Bank of India Bank Loans Provisional up 20.2%

Provisional central bank data from the Reserve Bank of India have shown that national bank loans have risen this year by 20.2% as of August 12.

This latest statistic furthers the 18.5% yearly rise in bank loans seen as of July 29. At the start of July, outstanding loans rose by 848.06 billion rupees to 40.86 trillion rupees in the two weeks to July 1. Non-food credit rose by 825.27 billion rupees to 40.07 trillion rupees and food credit rose by 22.79 billion rupees to 796.07 billion rupees in the period, the bank said. As such, Augustís statistics indicate the lending environment is expanding in line with the global financial turbulence.

Deposits as on August 12 were provisionally up 18.4% on the previous year. On a fortnightly basis, deposits rose 0.2% whilst credit was up 1.08%, the data showed. The final data for the two weeks to Aug. 12 will be released on Friday.

Indian banks' investments in bonds and other government approved securities were up 15.95% on year up to Aug. 12. RBI also said that in the fortnight bond investments and other government approved securities grew 0.3% to 16.86 trillion rupees.

The central bank releases a weekly statistical supplement enabling economists to keep track of Indiaís credit state.

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