• “Paisa – Portal for Affordable Credit & Interest Subvention Access”
• PAiSA – A centralized electronic platform for processing interest subvention on bank loans to beneficiaries under Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM).
• It is designed and developed by Allahabad Bank (Nodal bank).
• PAiSA 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 a timely manner
• All 35 States/UTs & all scheduled commercial banks, RRBs and Cooperative Banks are expected to be on board the PAiSA portal the year end.

About Deendayal Antyodaya Yojana:

The scheme has two component one for urban India and other for rural India.

• The Urban component named as Deen Dayal Antyodaya Yojana will be implemented by the Ministry of Housing and Urban Poverty Alleviation.
• The rural component named as Deen Dayal Upadhyaya Grameen Kaushalya Yojana will be implemented by the Ministry of Rural Development.

Main Highlights of The Scheme

• Employment through Skill Training and Placement - An expenditure of Rs.15, 000 per person is allowed on training of urban poor which is Rs.18, 000 in North-East and J&K. Moreover, Training urban poor to meet the enormous demand from urban citizens by imparting market-oriented skills through City Livelihood Centers.
• Social Mobilization and Institution Development - It will be done through formation of Self-Help Groups (SHG) for training members and hand holding, an initial support of 10, 000 is given for each group. Assistance of Rs.50, 000 is provided to Registered Area Level Federations.
• Subsidy to urban poor - An interest subsidy of 5% - 7% for setting up individual micro-enterprises with a loan of up to 2 lakh and for group enterprises with a loan limit of up to Rs.10 lakhs.
• Shelters for urban homeless - Cost of construction of shelters for urban homeless is fully funded under the Scheme.
• Other means - Development of vendor markets and also the promotion of skills for the vendors through setting up infrastructure and special projects for the rag picker and differently abled etc.