Allahabad Bank designs & developed PaiSA portal for processing interest subvention on bank loans to beneficiaries under DAY-NULM

On 26th November, the Ministry of Housing and Urban Affairs launched a centralized electronic platform ‘PaiSA’ for processing interest subvention on bank loans to beneficiaries under Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM). The web platform named “PAiSA – Portal for Affordable Credit and Interest Subvention Access”, has been designed and developed by Allahabad Bank which is the Nodal bank. All 35 states / UTs & all Scheduled Commercial Banks (SCBs), RRBs and Cooperative Banks are expected to be on board the PAiSA portal the year end.