PaiSA

PaiSA

Question: Consider the following statements regarding PaiSA:

  1. It is a portal for Affordable credit and interest subvention access.
  2. 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
    Answer: (a)
    Related facts:
  • 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

Links:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=185954

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