PAiSA Portal Launched For Quicker Processing Of Loans Under National Urban Livelihoods Mission

Ministry of Housing and Urban Affairs announced PAiSA portal for processing subvented loans for beneficiaries of Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM), according to a Press Information Bureau (PIB) press release.

Allahabad Bank is the nodal bank for the scheme. The Portal for Affordable Credit and Interest Subvention Access (PaiSA) is designed and developed by Allahabad Bank.

Secretary of Ministry of Housing and Urban Affairs, Durga Shankar Mishra, said, “PAiSA is yet another effort by the government to connect directly with the beneficiaries, ensuring that there is greater transparency and efficiency in the delivery of services.”

All 35 states, Union Territories, all scheduled commercial banks, Regional Rural Banks (RRBs) and Cooperative Banks are expected to integrate in the PAiSA portal by the end of 2018.

DAY-NULM is a programme by the government to tackle urban poverty by enabling people to access self-employment opportunities and skilled wage employment. And it supports urban street vendors by providing suitable spaces, institutional credit, social security and skills to access new opportunities.