Public Financial Management System (PFMS) also known as CPMS Central Plan Scheme Monitoring System. PFMS is a web-based online fund transaction system to manage the fund and online payment to implementing agency and to the beneficiary.
The objective of PFMS is to establish an efficient fund flow system and expenditure network. PFMS also provides various stakeholders with a reliable and meaningful management information system and an effective decision support system.
An integrated PFMS scholarship payment portal for end-to-end paperless workflow for scholarship application processing for crediting scholarships directly to the bank accounts of the beneficiaries and linked with the payment and accounting system of the Government of India using its linkages with the Aadhaar Payment Bridge (APB).
PFMS portal provides a facility for a one-time registration of students and upload of required documents for processing scholarship applications at various stages. Documents once submitted and verified by concerned authorities become a permanent record of the student till completion of education. The portal provides SMS/email alerts and provides comprehensive MIS to all stakeholders.
The main objective of a public financial management system is to create an organized fund transaction system. Applicants can now easily check their PFMS scholarship payment status online by entering a bank account number. You can also check the PFMS bank list to check the bank name. Know the payment status of benefits transferred through PFMS by using the “Know Your Payments” link on the left side panel.
PFMS Details:
Organization: Public Financial Management System (PFMS)
PFMS Contact Address: Controller General of Accounts, Ministry of Finance 3rd and 4th Floor, Shivaji Stadium Annexe, Connaught Place Shaheed Bhagat Singh Marg, New Delhi–110001
Centrally Sponsored Schemes: Funded directly by the central / departments and implemented by states or their agencies.
CSS (Central Sector Schemes): CSS is implemented by central agencies and fully funded by the center.
DBT (Direct Benefit Transfer): Through the Direct Benefit Transfer Ministry of Finance, the Government of India intends to attain electronic transfer of benefits, lower delays, and accurate targeting of beneficiaries. Transfer the scholarship amount directly to the applicant’s bank account.
ACA (Additional Central Assistance): This scheme assistance is only for special programs. The Additional Central Assistance linked schemes are fully funded by the ministry of finance.
Users can now check and track NSP payment status through the public financial management system by using the Track NSP Payments button on the PFMS website at pfms.nic.in and also check the complete list of banks integrated with PFMS.
How to Track Your NSP Scholarship Payments through PFMS?
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