Indian banks' loan growth inches closer to cbank's FY14 estimate

Last Updated: Wed, Dec 11, 2013 14:31 hrs

MUMBAI, Dec 11 (Reuters) - Indian banks' loan growth moved closer to the Reserve Bank of India's full-year projection, provisional data released by the central bank showed on Wednesday.

Bank loans grew around 13.8 percent to 76.94 trillion rupees ($1.26 trillion), while deposits rose 11 percent to 58.43 trillion rupees from March 22 to Nov. 29, the provisional data showed.

The RBI projects loans to grow at 15 percent and deposits by 14 percent in the current fiscal year ending in March 2014. ($1 = 61.0950 Indian rupees) (Reporting by Himank Sharma; Editing by Rafael Nam)

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