Question: Consider the following 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:

  • PaiSA is a “portal for affordable credit and interest subvention access” launched on 26th November, 2018. 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. Ministry Of Housing and Urban Poverty Alleviation is responsible for launching this portal.
  • 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


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