PAISA portal launched for processing interest subvention on bank loans to beneficiaries

All 35 states and UTs, scheduled commercial banks, RRBs and cooperative banks are expected to be on board by December end

To connect directly with beneficiaries and ensure there is greater efficiency in the delivery of services, a portal for processing interest subvention on bank loans under the Deendayal Antyodaya Yojana-National Urban Livelihoods Mission was launched on November 26 by the Ministry of Housing and Urban Affairs.

The  centralised electronic platform titled PAiSA or Portal for Affordable Credit and Interest Subvention Access was launched at a workshop on Municipal Finance and Urban Planning organised by the ministry in the Capital on Monday. The portal has been designed and developed by the Allahabad Bank, which is the nodal bank.