Loan growth better than 2007: RBI

BANGALORE: Growth in advances by Indian banks was better than last year, Reserve Bank of India deputy governor V Leeladhar said on Tuesday when asked whether high interest rates were hurting loan growth.
The central bank raised its key lending rate to a seven-year high of 9 percent in July to rein in double-digit inflation.
Loans by Indian banks as at Aug 1 were 25.8 percent higher than a year earlier, RBI data showed.