Public Financial Management System(PFMS) Latest News

Are you searching for PFMS? This is the phase of financial management that the Planning Commission and the Controller General of Accounts office of the Ministry of Finance started. The PFMS Payment allows the government to directly distribute various plan benefits to the intended beneficiary. 


The Public Financial Management System is referred to as PFMS. To provide constant announcements of banking exchanges, it collaborates with the central financial arrangement of banks. The government uses this stage to electronically distribute funds under Direct Benefit Transfer (DBT) to financial accounts based on Aadhar and Non-Aadhar through NPCI.


What is PFMS?

The Controller General of Accounts (CGA) IT platform, known as PFMS, was designed to track the distribution of funds from the Government of India to various levels below under all Schemes up to the point of final usage. It has now developed into a combined accounting and tracking gateway for payments.

NIC offers technical help, including application development, database management, portal hosting, etc. Through its interface with all banks and state treasuries, PFMS established a common platform for fully tracking fund flows from the Central Government to numerous program implementing agencies, both under the Central Government and the State Governments, until they reach the final intended beneficiaries.

It helps the Government of India's Ministries and Departments make good decisions through real-time monitoring of disbursements and resource use.

Objectives of PFMS

  • Monitoring of funds flowing from the Centre to the lowest level of implementation, including funds flowing to State Consolidated Funds and Implementing Agencies.
  • Registration of all organizations receiving money, at all levels of operation, along with their bank accounts.
  • Transferring funds through a financial channel to the final beneficiary.
  • A decrease in the amount of float/funds in the bank accounts of the agencies.
  • "Just in time" funding distribution to agencies dependent on floats/available funds.
  • Recording component-wise spending in real-time at all implementation levels, including at the Panchayat and village levels.
  • Decision Support System (DSS) to all levels of program administration, including the Center, State, District, and Local Government, or Panchayat/Municipality.
  • Increase accountability & openness in public spending.

Effectiveness of PFMS

The best feature of PFMS is its integration with the central financial framework, which allows PFMS the unique capacity to send online payments to virtually any recipient and seller. PFMS interfaces with all open division banks, local rural banks, significant private sector banks, the Reserve Bank of India, India Post, and agreeable banks via the CBS.

Pre-requisites for payment through PFMS

  • State-Level Agency Registration and Approval on the PFMS Portal.
  • PD's mapping of the Agency with the scheme/location.
  • Agency Administration creates "Data Operator and Data Approver" type Users.
  • DSC enrollment & Signatory Configuration in PFMS Account activation for e-payment (DSC & PPA).
  • Payment can also be made via PPA.
  • Agency bank account mapping with a component.

DBT Through PFMS

Direct Benefit Transfer (DBT) will be provided through the Central Government in specified areas of the country beginning on January 1, 2013. Previously, the beneficiary amount would be instantly deposited to the bank account of individuals who have registered for the scholarship. As a result, everyone will be able to benefit from direct incentives, removing the middleman from the equation.

Interface with different Systems

PFMS is integrated with all public sector banks, RRBs, central commercial banks, Gramin Banks, Cooperative Banks, India Post, and the Reserve Bank of India's Core Banking Solution (CBS).

This enables near-real-time bank account validation, fund transfers, and access to implementing agencies' bank balances. The system is set up to accept electronic payments via Digital Signature, Corporate Internet Banking (CINB), and Payment Print Advice. PFMS is also linked to several MIS of Ministries/Departments and DBT Bharat.

PFMS Scholarship Application Process

  • Access the PFMS portal.
  • For the first time, users must register by providing basic information.
  • Find the appropriate link for the PFMS scholarship application form.
  • Check the qualifying conditions first, and if you find yourself eligible, complete the form.
  • Upload the papers as mentioned above.
  • Once you have completed all of the fields, click the submit button.
  • It is recommended that you print your application form for future reference.

Eligibility Criteria For PFMS Scholarship

To apply for this award, you must meet the eligibility requirements below.

  • The grant is only available to Indian students who are permanent residents.
  • The family's annual income should be less than 6 lakh rupees.
  • The applicant must be between the ages of 18 and 25.
  • Only students who have completed the 10th-grade examination are eligible to apply.

PFMS Scholarship Required Documents

The following documents are required for online registration for this scholarship.

  • Aadhar Card
  • School fee receipt
  • 10th class mark sheet
  • 12th class mark sheet
  • Passport size photo
  • Family income certificate

How do I Check My Scholarship Status?

How do I Check My Scholarship Status
  • Visit to access the website.
  • Snap-on is aware of your installment - When the PFMS site loads, select the "know your installment" page.
  • Currently, newcomers must input Bank Account subtleties - Enter the requested details in the required territory to view your UP grant Payment status online via the Payment by Account Number office. Enter your bank's name, account number, and captcha code. 
  • Click on the inquiry button - Once a rising star has effectively filled all the subtleties, click on the hunt button at the end.
  • If your subtleties are correct, it will reveal the information.


The PFMS Payment System is a tremendous step by the government to ensure that benefits are delivered directly and quickly to the right people. All transactions conducted through this gateway are highly transparent.

So we can now say that government subsidies are reaching and assisting qualified folks. The PFMS transaction figures demonstrate that it gets the appropriate people on time. With this Public Financial Management System, India becomes the world's first country to provide government subsidies to this degree.

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