Jumbo life covers bought by rich Indians under ED radar
Unbeknownst to most outside the secretive world of wealth management, such covers, sold at substantially lower premium than the rates charged by domestic insurers, are often structured as investment products with a single-premium ‘life insurance wrapper’.
Prem Watsa-backed CSB Bank's profit jumps 14%, but gold loan NPAs spikeNet profit increase to Rs 61 crore in the quarter ended June 2021 from Rs 54 crore a year earlier. Loans grew 23% leading to a 45% growth in net interest income (NII) to Rs 268 crore.
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