Central govt. has launched Paisa Portal for Affordable Credit & Interest Subvention Access under Deendayal Antyodaya Yojana – National Urban Livelihood Mission. PAiSA portal is yet another effort by the central government to connect directly with the beneficiaries. This portal would ensure that there is greater transparency and efficiency in delivery of services.
Paisa web platform has been designed and developed by the Allahabad bank which is the Nodal bank. This is a centralized electronic platform to process interest subvention on bank loans to beneficiaries under DAY-NULM. PAiSA portal was launched during the National Workshop on Municipal Finance and Urban Planning in New Delhi.
All the 35 states / union territories and all scheduled commercial banks, RRBs / cooperative banks likely to be on board Paisa Portal by the year end.
Paisa Portal under DAY-NULM
Paisa portal provides for a quick, efficient and transparent process for transfer of interest subvention amount to the accounts of the beneficiaries directly by the banks through DBT. This 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.
DBT of subvention on monthly basis under DAY-NULM will provide the necessary financial support to small entrepreneurs in a timely manner. This platform is going to identify key areas of concern regarding municipal finance and urban planning.
PAiSA portal will help to explore the options available to resolve the key areas by inviting senior officials and experts to shed light on best practices.
The Portal for Affordable credit and Interest Subvention Access (PAiSA) being launched today will help in a quicker, efficient and transparent process for transfer of interest subvention amount directly to the beneficiaries via DBT. pic.twitter.com/fW5giNZCNj
— DAY-NULM (@NULM_MoHUA) November 26, 2018
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More than 300 delegates which comprises of officers from the states, urban local bodies (ULBs), town planning offices across the country and banks participated in the workshop.