The FinTech Hub
Source: Live Mint Insurance regulator IRDAI has allowed one time mandate for blocking the amount towards premium through unified payments interface (UPI mandate) for issuance of life and health insurance policies. This facility — known as Bima-ASBA (applications supported by blocked amount) — transfer of money from a prospective policyholder to the insurer will take…
Source: Live Mint With the prevalence of digital payments, it is quite common among the public at large to use a unified payment interface (UPI) service for a slew of transactions. Be it for paying your food bill or your cab, for shopping or for the fuel bill, making payment digitally is seen as convenient….
Source: Live Mint The Reserve Bank of India’s (RBI) Governor Shaktikanta Das on Wednesday announced to raise the transaction limits of UPI 123 and UPI Lite, thus expanding the scope of UPI for an increasingly large number of people. While acknowledging that Unified Payments Interface (UPI) has transformed India’s financial landscape by making digital payments…
Source: Live Mint Unified Payments Interface, or UPI, undoubtedly, has lately become ubiquitous. It has emerged as one of the world’s most popular alternative payments method, processing transactions to the tune of ₹80.8 lakh crore ($964 billion) in April-July 2024, a sharp 37 per cent year-on-year (y-o-y) surge in comparison to previous year. To give…
