PFMS Full Form
PFMS means the Public Financial Management System (formerly Central Plan Scheme Monitoring System) which is used by government agencies to make payments directly into the recipient’s bank account.
What is PFMS ?
Public Financial Management System (PFMS) was established as a web-based online transaction system for fund management and e-payment to implementing agencies and beneficiaries. The primary objective of is to link with the financial networks of Central and the State Governments and the agencies of State Governments. The PFMS system is linked to the Core Banking System (CBS) of banks, to get real-time reporting of banking transactions and for making e-payment of subsidy under Direct Benefit Transfer (DBT) to both Aadhar based & Non- Aadhar based bank accounts through NPCI. This system uses NACH PLATFORM (National Automated Clearing House) to transfer funds to accounts of people all over the country as India has many government subsidy schemes. This PFMS acts as a robust mechanism to transfer the subsidies to the bank accounts of the beneficiaries.
Transferring subsidies directly to the beneficiaries through their bank account is known as Direct Benefit Transfer (DBT). The purpose of this direct transfer is to bring to the citizen, efficiency, effectiveness, transparency and accountability in the Government system. Through the DBT, Government intends to achieve electronic transfer of benefits thus cutting down delays in payments and more importantly, accurately targeting of beneficiaries, thereby arresting leakages and duplication.in short this system
1. Acts as a financial management system for all plan schemes. It stores all data of all recipient agencies and integrates with core banking solution of banks, which handle plan funds, integrates with State Treasuries. This helps in efficient and effective tracking of fund flow to the lowest level of implementation for plan scheme of the Government.
2. Provides information across all plan schemes/ implementation agencies in the country on the utilization of funds leading to better monitoring, review and decision making to enhance public accountability in the implementation of plan schemes.
3. Helps in better cash management for Government, through transparency in public expenditure, real-time information on resource availability and utilization across schemes.
4. Results in improved program administration and management, reducing the float in the system, directly making payments to beneficiaries and thereby creating greater transparency and accountability in the use of public funds.
5. The proposed system will also act as an important tool for improving governance.
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The objective of Expenditure, Advance and Transfer (EAT) module of Public Financial Management System is to help Program Implementing Agencies (PIAs) in filing of expenditure, transferring funds, advances and its settlement. The process of feeding the day to day transactions as recorded in the cash book of the PIA on the Public Financial Management System is to help Program Implementing Agencies (PIAs) in fil portal is called expenditure filing. A step by step guide for each activity is provided in detailed in this user manuals. The following activities need to be completed by the Program Division (PD) for
implementation of EAT:
1. PIA Registration
2. Hierarchy Mapping
3. Identifying Components Once PIA is registered on Public Financial Management System is to help Program Implementing Agencies (PIAs) in fil , it will receive an Agency Admin log in and
- Visit official Website https://pfms.nic.in/ .
- Click on Login
- Fill username and password.
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PFMS forgot password
- Visit official Website https://pfms.nic.in/
- Click on Login
- Click on forgot password on left side , following screen will appear
Provide necessary details and reset your password.
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The Public Financial Management System is a web-based application designed to monitor the different scholarship schemes. The candidate can also track the Public Financial Management System payment status on the official portal. The eligibility criteria differ for each scholarship scheme.
The information about the various scholarship schemes is available on the Public Financial Management System website. The scholarship funds are credited directly to the candidate’s bank account or post-office account through the Direct Benefit Transfer (DBT) system.
Given below are the list of different PFMS scholarship schemes:
- Scholarships for colleges and universities
- Post-matric scholarship for SC category students
- National means cum merit scholarship
- PFMS pre-matric scholarship for SC category students
- National incentive PFMS scheme for secondary education of a girl child
- PFMS post-matric scholarship for OBC category
- PFMS merit scholarship up-gradation scheme of SC category students
- Top-class education PFMS scheme for SC category
The PFMS scholarship eligibility criteria are as follows:
- Candidates should have secured the top 20% position in the Class XII examination.
- Candidates should be between 18-25 years of age.
- The family income should not exceed INR 6,00,000 per annum.
The selected students receive the following scholarship rewards :
- An amount of INR 1,000 per annum is provided to students pursuing graduation for three years.
- Students pursuing postgraduate courses will receive INR 2,000 per month.
- A reward of INR 2,000 per month is provided to students pursuing professional studies in the fourth and fifth year.
PFMS.NIC.IN 2021 Documents and Renewal Process
Candidates need to keep their documents with themselves in order to apply for the Public Financial Management System Student Scholarship Scheme 2021
Here is the list of some important documents required:
- Aadhar Card
- Bank Account Details
- Proof of Residence
- Income Certificate
- Caste Certificate
- 12th DMC
Renewal Steps for PFMS Scholarships
Step 1: Already enrolled candidates will have to visit the official website: pfms.nic.in.
Step 2: Check the link displaying ‘ Public Financial Management System Scholarship Student Registration’. The applicant needs to select the Scholarship Scheme which they plan to renew.
Step 3: Now select the year in which you passed 12th and the education board in which you were or are enrolled.
Step 4: Provide the IFSC Code and the account number. and click on the search button.
Step 5: The form will be filled automatically by the system if you are already enrolled in the Public Financial Management System Scholarship 2021 program.
Step 6: Provide the mobile number and an OTP will be sent to you. Enter OTP.
Step 7: After the verification process, provide your Email ID.
Step 8: Now create your User ID and Password.
Step 9: Click on the submit button for the final submission of the Renewal Application form.
Apply for the PFMS 2021 Scholarship Scheme
- First of all, visit the official website: www.pfms.nic.in
- Check New Scholarship List under
- Selected your desired scheme and Click Apply
- Register Yourself
- After successfully registering yourself, fill the application form.
- Enter all your details carefully.
- Upload the necessary documents demanded by the department.
- That’s All !!
PFMS Know your payment
Students can also check their Payment status by following the below-mentioned steps:
- On the Main Page of the Official Website, Click on Know your Payments.
- Enter the Bank Name
- Enter your Account Number
- Click on Search
- You will get to know your PFMS Payment Status Online.
Candidates can check the status of their scholarship for the session year 2021-22 by entering their details asked on the login page.
Check your PFMS Status 2021
pfms bank master list | pmfsBank List | pmfs pfms.nic.in Bank List ?
- Abu Dhabi Commercial Bank
- Allahabad Bank
- Allahabad Gramin UP Bank
- Andhra bank
- Andhra Pragathi Grameena bank
- Axis bank
- Bank of Bahrain and Kuwait
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Bassein catholic co-op.bank ltd.
- Bombay mercantile co-op.bank ltd.
- Canara bank
- Catholic Syrian bank ltd.
- The central bank of India
- City union bank ltd
- Corporation bank
- Dcb bank limited
- Dena bank
- German bank
- Dhanlaxmi bank ltd
- HDFC bank
- ICICI bank
- IDBI bank
- Indian bank
- Indian overseas bank
- Indusind bank limited
- Jharkhand Gramin bank
- Karnataka bank
- Karur Vysya bank
- Mahindra bank box
- Madhya Bihar Gramin bank
- Manipur state co-op.bank ltd.
- New India co-operative bank ltd
- NKGSB co-op bank ltd
- Oriental bank of commerce
- Punjab and Sind bank
- Punjab National bank
- RBL bank
- South Indian bank
- Standard chartered bank
- State bank of India
- Svc co-operative bank ltd.
- Syndicate bank
- Tamil Nadu mercantile bank ltd
- The cosmos co-operative bank ltd.
- The federal bank ltd
- The Jammu and Kashmir bank ltd
- The Kalupur commercial co. op. bank ltd.
- The Lakshmi Vilas bank ltd
- The Saraswat co-operative bank ltd
- The Thane Janata Sahakari bank ltd
- UCO bank
- Union Bank of India
- United bank of India
- Vijaya bank
- Yes bank ltd
Direct Benefit Transfer (DBT)
The DBT Scheme was announced by the Government of India for implementation w.e.f 01.01.2013. It has been decided that payments (Aadhaar enabled or via NEFT) to ultimate beneficiaries will be processed through PFMS (CPSMS). The erstwhile Planning Commission issued detailed guidelines on 12.4.2013 (OM No 4) regarding use of CPSMS by Ministries /Department/Implementing Agencies for DBT.
Further, the use of PFMS has been made mandatory for payment, accounting and reporting under Direct Benefit Transfer, with effect from 1st April 2015. No payments under the Direct Benefit Transfer schemes (except PAHAL) are to be processed, unless the electronic payment files for such payments are received through the PFMS system developed by the CGA from 1st April, 2015.
As a result, every Department/Ministry will transfer funds electronically to each beneficiary (individual or institution) through PFMS. Further, implementing agencies will transfer the cash components to beneficiaries through PFMS. In case where funds are transferred to State Government/Treasury, each Ministry will coordinate and ensure that the cash component of each scheme is transferred through PFMS. In both the above cases, all Departments/ministries will use the PFMS system of CGA for processing payments which is already linked with NEFT and APB of NPCI for settlement of funds, and can process both type of payments on a single platform.
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Toll-Free No: 1800118111