The disruption caused by demonetisation has been a positive one for companies offering financial instruments, including mutual funds, banks, and life insurance companies. The shift away from physical assets like cash, real estate, and gold has boosted fortunes of financial service sector companies. “We actually benefitted from the move. With a lot of money coming into the formal channel, the financial services industry witnessed unprecedented growth during that time. Our company saw its individual new business premium grow at about 68% between December 2016 and March 2017 against the same period last financial year,” said Kedar Patki, Chief Financial Officer, IDBI Federal Life.