Indian banks' loans rise faster in July at 14.8 pct: cbank data
MUMBAI Aug 30 (Reuters) - Bank loans rose 14.8 percent in July, faster than 13.4 percent in the month-ago period, led by credit to industry and services, provisional data from the Reserve Bank of India showed on Friday.
Loans to industry were up 15.9 percent in July, higher than 14.1 percent in June as credit picked up in food processing, gems and jewellery, and cement sectors, among others, the central bank said.
Credit to the services sector increased 13.3 percent, compared with 12.1 percent in June.
Farm loans rose 10.5 percent, higher than 9.9 percent in the month-ago period. (Reporting by Neha Dasgupta; Editing by Subhranshu Sahu)
- Housing, jobs data weaken, but overall economic picture still upbeat
- Target holiday cyber breach hits 40 million payment cards |
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Zuckerberg to sell Facebook shares worth about $2.3 billion |
- Special Report: Why Ukraine spurned the EU and embraced Russia