JOIN USWhat is PAiSA Portal mentioned by Finance Minister Nirmala Sitharaman in presser?
Union Finance Minister Nirmala Sitharaman has announced the disbursal of Revolving Fund to Self-Help Groups through an online PAiSA portal.
The PAiSA portal was launched on November 26, 2018. The web portal was designed and developed by Allahabad Bank.
The fund was on-boarded on PAiSA portal in April 2020 on a pilot basis in Gujarat and will soon be across states in May 2020.
We are delighted to announce that DAY-NULM has been conferred the prestigious SKOCH Governance Gold Award for its Portal for Affordable Credit and Interest Subvention Access (PAiSA).#TransformingIndia#TransformingLives pic.twitter.com/PAj3JVoyuk
— DAY-NULM (@NULM_MoHUA) August 30, 2019
The PAiSA Portal is a centralized electronic platform for processing interest subvention on bank loans to beneficiaries under Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM).
Portal for Affordable Credit and Interest Subvention Access (PAISA) was launched on November 26, 2018.
The then Secretary of Ministry of Housing and Urban Affairs, Durga Shankar Mishra, who unveiled the portal, said that it was an effort by the government to connect directly with the beneficiaries, ensuring that there is greater transparency and efficiency in the delivery of services. It was done to benefit small entrepreneurs across all states and union territories.