PAISA – PORTAL FOR AFFORDABLE CREDIT AND INTEREST SUBVENTION ACCESS
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.
The web platform has been designed and developed by Allahabad Bank which is the Nodal bank.
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.