NEWS & ADVICE : PERSONAL LOAN
Indian banks loan rise by 11.25 percent
By Vaibhav Aggarwal
Dec 31, 2009
Print    Email    RSS   

According to provisional data released by the Reserve Bank of India, bank loans increased by 11.25 percent year-on-year as on December 18.

Outstanding loans were up by 2.94 trillion rupees as on Dec. 18 from 2.64 trillion in the comparable period. Bank credit had risen 10.5 percent year-on-year as of Dec. 4. Final figures for the week ending September would be released by the apex bank in its weekly statistical supplement on Friday.

The supplement further revealed that the deposits increased by 17.85 percent from the previous year. Banks' investments in government approved securities increased 24.21 percent during the year.

This is the fourth consecutive fortnight that bank credit has increased.

Bankers say the improving credit offtake numbers indicate that economic recovery has begun.

According to an official with a public sector bank, there has been an increase in demand for credit across sectors. The demand for funds has been greatest in the infrastructure sector.

In the previous fortnight, credit had increased by Rs 20,930.43 crore.

 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Man caught for committing bank fraud
Is the Base Rate system really transparent?
Guidelines to apply for NRI Personal Loans
Get a loan to meet your any personal need
Pay income tax through ATM


HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive