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“Paisa – Portal for Affordable Credit & Interest Subvention Access”, Launched under Day-NULM

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Topic Covered:

  1. Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
  2. 2. Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes

 

“Paisa – Portal for Affordable Credit & Interest Subvention Access”, Launched under Day-NULM

 

Context: PAiSA – A centralized electronic platform for processing interest subvention on bank loans to beneficiaries under Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM).

It is designed and developed by Allahabad Bank (Nodal bank).

Benefits of PAiSA:

  • Another effort by the government to connect directly with the beneficiaries for ensuring 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.

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