One of the beneficiaries of the huge inflow of money to banks after the invalidation of high-value currency notes on 8 November last year was the life insurance sector. In November 2016 the total first-year premium collected by insurers was Rs16,061 crore, a jump of 113% from a year ago and 45% from the preceding month, according to figures released by the Insurance Regulatory and Development Authority of India (Irdai).
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