- It is a centralized electronic platform for processing interest subvention on bank loans to beneficiaries under Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM).
- The web platform has been designed and developed by Allahabad Bank which is the 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 at the end of the year end.