https://www.taxtmi.com/news?id=34587 Irdai mandates that life and health insurers offer a Bima-ASBA facility using UPI One Time Mandate to block premium amounts in a prospect's bank account and debit them only when the insurance policy is issued; insurers may block funds up to NPCI specified limits, must enable UPI OTM for premium collection, offer the facility to individual prospects, partner with multiple banks, and implement appropriate systems and processes. en-us Wed, 19 Feb 2025 18:31:03 +0530 Wed, 19 Feb 2025 18:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=34587 Irdai mandates that life and health insurers offer a Bima-ASBA facility using UPI One Time Mandate to block premium amounts in a prospect's bank account and debit them only when the insurance policy is issued; insurers may block funds up to NPCI specified limits, must enable UPI OTM for premium collection, offer the facility to individual prospects, partner with multiple banks, and implement appropriate systems and processes. News - Wed, 19 Feb 2025 18:31:03 +0530 https://www.taxtmi.com/news?id=34587