India banks' deposits rise faster than loans in April-June

Last Updated: Wed, Jul 10, 2013 11:26 hrs

Indian banks' deposits grew at a faster pace than loans in the first quarter of the fiscal year that started in April, provisional data from the Reserve Bank of India showed on Wednesday.

In the April-June quarter, banks' deposits grew 2.7 percent, while credit grew at 1.3 percent.

As of June 28, banks' deposits stood at 70.90 trillion rupees ($1.18 trillion), up 2 percent from two-weeks ago, while advances stood at 54.15 trillion rupees, up 1.1 percent from two weeks ago. ($1 = 60.03 rupees)

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