CREATE OR REPLACE FUNCTION JsonParse(inputdata json)
RETURNS void AS $$
DECLARE
BEGIN

    UPDATE
        MyTable
    SET
        settings_details= inputdata
    WHERE
        settings_key='my-list';

END;
$$
LANGUAGE PLPGSQL;

select * from JsonParse('{
            "myArray": ["New Text1 'abcd'", "New Text1 'efgh'"]
        }');