Indian banks' loans rise at slower pace

Down almost 5% year-on-year.

The Reserve Bank of India said year-on-year non-food bank credit improved by 13.4% in June compared with a growth of 18.2% in the same period last year.

The central bank also said credit to industry increased by 14.1% in June 2013, lower than an increase of 20.7% last year.

Credit to agriculture rose by 9.9%, lower than the increase of 15.5% last year.