PAISA Portal

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Context:

  • A centralized electronic platform for processing interest subvention on bank loans to beneficiaries under Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM) named “PAiSA – Portal for Affordable Credit and Interest Subvention Access”, was launched.

About the Platform:

  • The web platform has been designed and developed by Allahabad Bank which is the Nodal bank. Launching the portal, Ministry of Housing and Urban Affairs said , “PAiSA is yet another effort by the government to connect directly with the beneficiaries, ensuring that there is greater transparency and efficiency in delivery of services.
  • DBT of subvention on monthly basis under DAY-NULM will give the necessary financial support to small entrepreneurs in a timely manner”.
  • The portal was launched during the course of a day long National Workshop on Municipal Finance and Urban Planning organised by the Ministry of Housing and Urban Affairs and provided a platform to identify key areas of concern regarding municipal finance and urban planning, and exploring the options available to resolve them by inviting senior officials / experts to shed light on best practices.
  • More than 300 delegates comprising officers from the States, Urban Local Bodies, Town Planning Offices across the country and Banks participated in the workshop.
  • All 35 states / UTs & all scheduled commercial banks, RRBs and Cooperative Banks are expected to be on board the PAiSA portal the year end.

Source:PIB