The knock-on effects of the boost to rural production and consumption augur well for banks’ loan growth. IMPACT:— Perhaps the only splash in the Union budget for the financial services industry was the flagship health insurance plan. Much like the crop insurance boost in the previous year, the health insurance scheme can fire up penetration of insurance. STOCKS IN FOCUS:— Shares of general insurance companies rose with ICICI Lombard General Insurance Co. Ltd surging over 5%, the New India Assurance Co. Ltd rising 5.45% and even life insurers gaining on the hope of greater insurance penetration. — The knock-on effects of the boost to rural production and consumption augur well for banks’ loan growth.

Source: Mint February 01, 2018 12:11 UTC