Modelled after the UPI-linked ASBA mechanism for initial public offering (IPO) applications, Bima-ASBA allows the premium ...

Irdai's decision to implement ASBA facility for insurance premium payment will benefit customers by eliminating unauthorised deductions and delayed refunds, say experts. Insurance Regulatory and ...

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The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a new payment mechanism called Bima-ASBA (Applications Supported by Blocked Amount) via Unified Payments ...

Bima-ASBA enables policy seekers to authorize a one-time mandate (OTM) via UPI, blocking a specified amount in their bank account for premium payment. The blocked amount remains untouched until ...

The Insurance Regulatory and Development Authority of India's (IRDAI's) fresh set of guidelines on Bima-ASBA could resolve the longstanding problem of unclaimed policy amounts cluttering the ...