Can time delay be generated in C through loops? If yes,how?

Yes, delay can be produced using the loops. but the delay cannt be same on all processors.
That means, each processor shall have its own speed of executing an instruction. hence the execution speed influence the delay value.

Same code with loops produce delay as x msec on 16 bit processor, but the same piece code produce Y msec of delay on 32 bit processors. sometimes same 16 bit processors also produce different delays. it mainly contain the clock frequencies ( internally relate to crystal frequencies).