Indian banks' loans rose over 6% in just two weeks post demonetisation
A man exchanging damaged Indian currency counts 100 rupee notes along a roadside in Kolkata. Image Source: Reuters
Indian banks` loans rose 6.6 % in the two weeks to November 25 from a year earlier, while deposits rose 15.9 %, the Reserve Bank of India`s weekly statistical supplement showed on Friday.
Outstanding loans fell 609.90 billion rupees ($9.04 billion) to 72.92 trillion rupees in the two weeks to November 25.
Non-food credit fell 656.80 billion rupees to 72.01 trillion rupees, while food credit rose 46.90 billion rupees to 917.80 billion rupees.
Bank deposits rose 4.03 trillion rupees to 105.18 trillion rupees in the two weeks to November 25.