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Indian banks’ loans rose 5.3% y/y in two weeks to April 9: RBI

Banks’ loans rose 5.3% in the two weeks to April 9 from a year earlier, while deposits rose 10.9%, the Reserve Bank of India’s weekly statistical supplement showed. Outstanding loans fell by 603.33 billion rupees ($8.04 billion) to 108.89 trillion rupees in the two weeks to April 9. Non-food credit fell by 487.78 billion rupees to 108.39 trillion rupees, while food credit fell by 115.55 billion rupees to 496.99 billion rupees. Bank deposits rose by 1.01 trillion rupees to 152.15 trillion rupees in the two weeks to April 9.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.