In a major leap for the insurance sector, Bajaj Allianz Life has become the first company to introduce the Bima-ASBA facility. The innovative service is in line with the Insurance Regulatory and ...

Irdai's implementation of Bima-ASBA for insurance premium payments will enhance transparency and security by blocking the ...

IRDAI has permitted insurers to block funds in a customer’s bank account via UPI for premium payments for life and health ...

The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a new payment mechanism called Bima-ASBA ...

This feature will allow policyholders to block funds in their bank accounts for premium payments, ensuring transactions ...

Bima-ASBA allows policyholders to opt for the Unified Payments Interface (UPI) One-Time Mandate (OTM) and authorise the blocking of a specified amount-up to Rs 2 lakh-in their bank account via UPI ...

The Insurance Regulatory and Development Authority of India (IRDAI) has floated the Bima-ASBA facility to simplify insurance ...

Under this new payment method, the insurer can send a one-time mandate to block a certain amount for their insurance policy.

ASBA, a facility eliminating unauthorised deductions and enhancing transparency in premium payments. Policyholders can now block funds in their bank accounts, which are debited only upon policy ...

Irdai's decision to implement ASBA facility for insurance premium payment will benefit customers by eliminating unauthorised ...

Bima-ASBA allows policyholders to block a specified amount (up to ₹2 lakh) in their bank account via UPI’s One-Time Mandate ...

This eliminates the need for upfront premium payments and ensures greater financial security and transparency, says a release ...