U.S. Markets closed

Indian banks' loans, deposits grow slower vs RBI's FY14 estimate

MUMBAI (Reuters) - Indian banks' loan and deposit growth continues to be slower in the current fiscal year compared with the Reserve Bank of India's (RBI) full-year projection, according to data released by the central bank.

Banks' loans grew about 10 percent to 57.94 trillion rupees, while deposits rose 11 percent to 75.09 trillion rupees from March 22 to October 18, data released on Wednesday showed, mainly due to the overall slowdown in GDP growth in Asia's third-largest economy.

The RBI projects loans to grow at 15 percent and deposits by 14 percent in the current fiscal year ending in March 2014.

(Reporting by Aditi Shah; Editing by Anupama Dwivedi)