Government launches PAISA Portal under Deendayal Antyodaya Yojana

Union Ministry of Housing and Urban Affairs launched 'PAiSA' - Portal for Affordable Credit and Interest Subvention Access during the National Workshop on Municipal Finance and Urban Planning held in New Delhi.

About PAISA Portal:

• It is a centralised electronic platform for quicker processing of loans under the Deendayal Antyodaya Yojana - National Urban Livelihoods Mission (DAY-NULM). 
• It aims to connect directly with beneficiaries and ensure that there is greater efficiency in the delivery of services.
• It has been designed and developed by Allahabad Bank, the nodal bank under the scheme.
• All 35 States and Union Territories (UTs) & all scheduled commercial banks, Regional Rural Banks (RRBs) and Cooperative Banks are expected to be on the PAiSA portal by the year end.

About Deen Dayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM):

• It is a Centrally Sponsored Scheme implemented by Union Ministry of Housing and Urban Poverty Alleviation.
• Its objective is to uplift urban poor folks by enhancing sustainable livelihood opportunities through skill development.
• Its intended beneficiaries are urban poor (street vendors, slum dwellers, homeless, rag pickers); unemployed and differently abled.
• It provides for employment through Skill Training and Placement through City Livelihood Centers to reduce poverty and vulnerability of the urban poor households.
• It also provides social mobilization and institution development through formation of Self-Help Groups (SHGs) for training members and hand holding, an initial support of Rs 10,000 is given for each group.
• It also provides subsidy to urban poor i.e. interest subsidy of 5% - 7% for setting up individual micro-enterprises with loan of up to 2 lakhs and for group enterprises with a loan limit of up to Rs.10 lakhs.
• It fully funds the cost of construction of shelters for urban homeless.
• It also provides for development of vendor markets and also promotion of skills for vendors through setting up infrastructure and special projects for rag pickers and differently abled etc.

Question:

Q. Union Ministry of Housing and Urban Affairs launched which portal during the National Workshop on Municipal Finance and Urban Planning held in New Delhi?
a. PAiSA - Portal for Actual Credit and Interest Subvention Access
b. PAiSA - Portal for Affordable Credit and Interest Subvention Access
c. PAiSA - Portal for Accessible Credit and Interest Subvention Access
d. None of the above