one-time mandate

Bima-ASBA: New UPI-based insurance payment system for policyholders; here’s how it works

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Bima-ASBA: New UPI-based insurance payment system for policyholders; here’s how it works

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 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 payments, ensuring smooth transactions … Read more

Explained: What is one-time mandate (OTM) in mutual funds

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Explained: What is one-time mandate (OTM) in mutual funds

Mutual funds have become a popular investment vehicle for individuals seeking to diversify their portfolios and achieve financial goals. Among the various investment options and strategies available within mutual funds, the One-Time Mandate (OTM) stands out as a versatile tool for investors. A One-Time Mandate (OTM) is a directive given by an investor to a … Read more