Informative

Irdai permits insurance premium payment through blocked amount on UPI

Update / Judgement Date

18 Feb 2025

Source

Business Standard

Author

Team — WCP Legal Desk

Reading Time

1 min read

BankingInsurance

IRDAI has permitted insurance premium payment through blocked amounts on UPI. This provides greater flexibility and convenience for policyholders in paying their premiums. This move promotes the use of digital payment methods in the insurance sector. The IRDAI's decision aims to make insurance more accessible and user-friendly.

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Irdai permits insurance premium payment through blocked amount on UPI

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