Flight to Safety by India Households May Benefit Banks, Insurers
People gather in a near-empty Connaught Place during a partial in New Delhi, on May 14.
Photographer: Prashanth Vishwanathan/BloombergThis article is for subscribers only.
Indian households will probably shift toward liquid and safer financial assets as concerns over income losses rise, ICICI Securities Ltd. said in a note to clients.
“Financial intermediaries in sectors such as insurance and banks with strong brand loyalty, proven retail franchise, strong execution and clean balance sheets should benefit in current environment,” analysts Vinod Karki and Siddharth Gupta wrote in the note.