The new system, which will enhance convenience and reduce payment-related delays ... to authorise insurers to block a specific amount in their bank accounts via UPI before an insurance proposal ...

From February 1, 2025, a routine UPI payment might not go through—not because of insufficient funds, but due to an unexpected restriction. Any transaction ID containing special characters such ...

via Unified Payments Interface (UPI) to simplify premium payments for life and health insurance policies. The new system allows policyholders to block funds in their bank accounts for premium ...