PFMS stands for Public Financial Management System, which is the platform designed by the government in association with NPCI to distribute various government schemes that benefit directly to the beneficiary. By this platform, the government ensures that the benefit is directly received by the actual beneficiary. This platform was designed to bring in efficiency, effectiveness, accountability, and transparency in the government system.
PFMS Payment and DBT work hand in hand to achieve faster transactions which reduce delays in payments and accurate targetting of the beneficiary. This also eliminates the requirement of the middle man in the system as the benefit will directly be transferred to the beneficiary’s account.
All the transactions done through the PFMS generated payment platform will be auto reconciled and authenticated by the government.
PFMS website portal is – https://www.pfms.nic.in/. Here you can know your payments and track NSP Payments as well. After login on to this portal.
PFMS bank list –
List of the Banks in PFMS Scholarships –
Catholic Syrian bank ltd. The central bank of India Citibank Allahabad Bank Allahabad Gramin UP Bank Andhra bank Bombay mercantile co-op.bank ltd. City union bank ltd Corporation bank Dcb bank limited Dena bank Dhanlaxmi bank ltd Andhra Pragathi Grameena bank Axis bank Bank of Baroda Bank of India NKGSB co-op bank ltd Oriental bank of commerce Punjab and Sind bank Punjab National bank RBL bank Indusind bank limited Indian overseas bank Indian bank IDBI bank State bank of India Svc co-operative bank ltd. Syndicate bank Yes bank ltd Vijaya bank United bank of India Union Bank of India UCO bank The Thane Janata Sahakari bank ltd The Saraswat co-operative bank ltd South Indian bank Standard chartered bank Bank of Maharashtra Bassein catholic co-op.bank ltd. Canara bank Bank of India NKGSB co-op bank ltd Oriental bank of commerce Punjab and Sind bank Punjab National bank HDFC bank HSBC ICICI bank New India co-operative bank ltd Manipur state co-op.bank ltd. Madhya Bihar Gramin bank Kotak Mahindra bank Karur Vysya bank Karnataka bank Jharkhand Gramin bank Lakshmi Vilas bank ltd The Kalupur commercial co. op. bank ltd. The Jammu and Kashmir bank ltd Federal bank ltd The cosmos co-operative bank ltd. Tamilnad mercantile bank ltd
As I mentioned above, the Government uses this platform for distributing various scheme benefits to direct beneficiaries. The PFMS Payment module was launched in India in 3 phases. These phases are as below.
PFMS scholarship is the government scheme wherein the government is giving a scholarship of a total of 82000 eligible candidates. The benefits will be equally divided between boys and girls as 41000 each for boys and girls.
The scholarship amount will directly be deposited into the candidate’s bank account. I will take you through the eligibility criteria and the process of applying for the scholarship by yourself.
For the PFMS scholarship, you must apply online through the portal. There is no offline form that will be accepted at any of the offices.
The eligibility criteria for PFMS scholarship for 2019 is as below.
The student must have passed the 12th class.
The student should be in the top 20% of the candidates.
The age of the student should be between 18 and 25 years.