PFMS – Public Financial Management System
The Public Financial Management System / PFMS was basically a scheme launched in 2008 – 2009 by the CGA ( Controller General of Accounts ), It was previously known as the CPSMS ( Central Plan Scheme Monitoring System ). The aim behind this was to keep a track of the funds for the plans and schemes of the govt. of India, digitalizing the process made it transparent, easily accessible, and monitorable. In 2013 there was a certain enhancement done in the functionality of the PFMS and it was made responsible to cover the direct payment of welfare schemes to the beneficiary’s accounts. PFMS covers both central and state-sponsored schemes like IAY, NREGP, PMGSY, etc.
PFMS portal registration & Login
- To register on the portal visit the official portal of the Public Financial Management system and from the home page click on the Login button.
- Now select from the options given for registration such as:
- Agency register
- MIS report user register
- State govt. DDO register
- DBT Beneficiary Mgmt Checker register
- Treasury Users
- Click on the required option and a new page will open where users will be required to provide data according to the selection of the registration option as shown in the image below.
- Visit the official Public Financial Management System portal from here.
- Click on the login button from the homepage.
- Fill in your login credentials and click on the login
- After submitting it, you will receive verification OTP if you are a new user on your registered mobile or email id.
- After verification of your account, your dashboard will open.
Know your payments status on the PFMS portal
The process of checking your PFMS balance or payment status is pretty easy. Just follow the step by step process given below to know your payment status.
- Whatever official detail you want to check, first of all, you will have to visit the official Portal of PFMS from here.
- From the home page click on the Know your payment option and a new page will open where you need to fill in the details like bank name, bank account number, enter the verification, and search.
- Your provided credentials will be validated and after that, the record of your balance and past payments will show up on the screen, you can check the date of payments, the amount, and the status of the current balance.
What is NSP? NSP Payment checking process
The National scholarship portal is stated as NSP, Students who have got scholarships under the NSP can track their payment status and balances through the PFMS portal. To track your payments from the National scholarship portal follow the process given below.
- The very first step as mentioned above is to visit the official PFMS portal and the link for the same is given above.
- On the home page, as mentioned in the image above, you need to click on the Track NSP payment option.
- A new page will open where You need to either search your payment status by account number or by your Nsp Application id ( which is provided by the national scholarship portal after a successful registration. )
- After filling in the details carefully click on the search button and your bank name, scheme name, amount, and payment status will show up on the screen.
Process to check Salary Slip on the PFMS portal
For existing PFMS employees the process to get their salary slip from the official portal is given below, follow the step by tep process to download your salary slip according to your requirement.
- Visit the official portal of PFMS through this URL ” pfms.nic.in ” and click on the login button.
- Now select the financial year and fill in your Login id / PAN number and password then click on the login button.
- On your dashboard, click on the Pay Related option, and under it click on View Pay Slip.
- Select the year or month according to your requirement and click on the View Pay Slip option.
- Your payslip will be displayed and you can download it print it from there.
List of Scholarship Schemes covered under the Public Financial Management System
There are multiple scholarship schemes which are covered under the Public financial management system. A list of scholarship schemes is mentioned below which is sourced from the official portal of PFMS. Users can find the link to the scholarship page in front of the respective scholarships, the link will redirect them to the official portal where they can check the eligibility criteria and registration details of the scholarship schemes.
|Pre-Matric Scholarship for SC Students||Eligibility & Application|
|Post-Matric Scholarship for SC Students||Eligibility & Application|
|Scholarship to Universities/College Students||Eligibility & Application|
|Top Class Education Scheme for SC||Eligibility & Application|
|National Scheme for Incentive for the girl child for secondary education||Eligibility & Application|
|National Means cum Merit Scholarship||Eligibility & Application|
|Post-Matric Scholarship for OBCs||Eligibility & Application|
|Up-gradation of Merit of SC Students||Eligibility & Application|
How to apply for Scholarship Scheme under the PFMS Portal?
Students who are looking for ways to apply for the scholarship schemes on the PFMS portal must go through the easy process given below, by following this process you will be able to check the list of scholarships offered under the PFMS and also if you are eligible for it or not.
- Visit the Scholarship schemes section of the PFMS portal from here.
- The list of scholarship schemes offered will display. Now you need to select whichever scholarship scheme you want to apply for. After selecting the scheme all the details about eligibility and other requirements will also display. Make sure to check all the important details before starting the application process.
- Now go to the student registration page to create your account on the portal as a student through which you will be able to apply for the selected scholarship scheme.
- After completing the student registration, log in to your account on the PFMS portal. From the dashboard select the scholarship you want to apply for. Fill in the basic details required such as your educational background and some personal details.
- Then you will have to provide the financial details like your bank account number and IFSC code for branch verification.
- Users also need to upload some documents which are required for the registration, the list of required documents is given below.
Documents required for scholarship application.
Keep the documents mentioned below with yourself while applying for scholarship portal on the PFMS portal.
|Scanned copy of the candidate’s signature|
|The PDF file of the premium receipt|
|The PDF file of the candidate’s mark sheet of the required class|
|Scanned copy of a passport-sized photo of the applicant or candidate|
Note – Your Aadhar card must be linked with your mobile number to complete the application or the registration process and students can only create 3 user id’s with the same email and mobile number
DBT and EAT modules
EAT module is basically for the vendors so we will be covering that in a different article, for now, the main option for the beneficiaries is the DBT module. The full form of DBT is the direct benefit transfer. The financial aid provided by the govt. through the welfare schemes are directly transferred to the Aadhaar linked bank account of the beneficiary. DBT is now only applicable to limited govt. schemes and not all of the payments of schemes are done through the Direct benefit transfer. It is definitely a good module as it increasess transparency in the process of providing financial aids to the beneficiaries.
List of Banks integrated with PFMS
According to a list given on the official portal of the Ministry of Home Affairs, there are around 62 banks which are also given below. The list includes several Public Sector Banks, Regional Rural Banks & private sector banks. Some of the PFMS integrated banks are mentioned below. To check the full list of banks integrated with PFMS, users can go through the list given on the official portal by following this link.
|BANK OF BARODA|
|CITY UNION BANK|
|KOTAK MAHINDRA BANK|
|ORIENTAL BANK OF COMMERCE|
|PUNJAB NATIONAL BANK|
|STATE BANK OF INDIA|
|STANDARD CHARTERED BANK|
|THE FEDERAL BANK LTD|
|UNION BANK OF INDIA|
|YES BANK LTD|
Benefits of the Public Financial Management System
According to a recent report from the economic times, the finance minister of India stated that the govt. has saved as much as ₹ 1 lakh crores because of the improving structure of the PFMS. Further, she mentioned that the PFMS portal made the nation accountable, responsive, and transparent. In the report, it Is mentioned that around ₹ 6.29 Lakh crores have been transferred till date directly to beneficiaries of multiple government welfare schemes through DBT ( direct benefit transfer ). The system is performing well for both the government and the public hence it will keep improving and helping the nation.
How to check PFMS balance?
On the homepage of the official PFMS portal, click on know your payments, now provide the details asked such as your bank details, and click on search. after validation of your bank details your balance will show up
PFMS DBT credited to your account, what does it mean?
The financial aid of some of the govt. schemes like MNREGA or scholarship schemes are paid through DBT which is Direct Benefit Transfer. PFMS DBT credited to your account states that the payment of such schemes has been credited to the beneficiary’s Aadhar linked bank account.