Question: Consider the following statements regarding PaiSA:
- It is a portal for Affordable credit and interest subvention access.
- It is developed by Andhra Bank.
Choose the correct options of the following:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
- On 26th November 2018, PaiSA a “portal for affordable credit and interest subvention access” was launched by Sh Durga Shankar Mishra, Secretary, Ministry of Housing and Urban Affairs.
- It is a centralized electronic platform for processing interest subvention on bank loans to beneficiaries under Deendayal Antyodaya Yojna- National Urban Livelihoods Mission (DAY-NULM).
- It has been designed and developed by Allahabad bank which is the nodal bank.
- It is an 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 timely manner.
- All 35 states/UTs & all Scheduled commercial banks are expected to be on board the PaiSA portal the year end.
- More than 300 delegates comprising officers from the States, Urban Local Bodies, and Town Planning Offices across the country and Banks participated in the workshop.
By Ramayan Upadhyay