It is worth mentioning that the steady performance is even before the festive season has brought its cheer. As such, there are tailwinds for customer additions with consumers potentially making purchases during the festivals.
Life Insurance Corp of India (LIC), the largest insurer in the country, has been increasing its purchases of federal and state debt in order to reduce capital volatility. This shift has helped lower government borrowing costs and has resulted in states reducing their costs by more than 40 basis points over the past 15 months.
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