Public finance management system is a government of India initiative which monitors programs in the social sectors and tracks funds disbursed . this public management reform was also known as central plan scheme monitoring system.
Official information of the scheme
|Name||PFMS (Public Finance Management System) Scholarship|
|Started by||Central government of India|
PFMS was initially started during 2009 as a Central sector scheme of planning commission with the objective of tracking funds released under all plan schemes of the government of India, and real time reporting of expenditure at all levels of program implementation.
At present , the ambit of PFMS coverage includes central sector and centrally sponsored schemes as well as other expenditure including the finance commission grant. PFMS is integrated with the core banking system of the country.
The need for the establishment of PFMS felt high when deficiency was noted in the existing accounting system and was also not strong enough to support budgeting, effective monitoring , consolidated financial information system and planning of these schemes.
Know UP Government’s free coaching scheme.
PFMS Scholarship 2023
The future of our country is in the hands of youth, so the priority of our country is the education of kids. This scholarship programs are the unique initiative by the Indian government.
PFMS is a web based application designed to monitor the different scholarship schemes .
Through PFMS scholarships the central governments channelize scholarships to users with less documentation and no mediators.
The central government invests a certain amount of funds in selective scholarships to the deserving candidates every year . The candidates are selected on the basis of their merit and performance.
These funds are directly distributed into the account of the students or the guardians, in short the students get the whole scholarship amount without paying any charge or commission.
The central government provide a wide range of scholarships that links with the needs of different students, most of the scholarships are provided to the backward classes but still general category students can also enjoy the benefits.
To avail this benefit, students needs some documents to complete the registration process.
Also read: Mentor India Campaign
This scholarship amount is transferred through the NEFT process. The process of transferring funds is managed by controller general of accounts , under the ministry of finance.
According to the reports more than 80,000 students are enjoying this benefits.
Registration process for the PFMS scholarship
- After visiting the official portal of PFMS scholarship.
- You have to find the option “PFMS SCHOLARSHIP” – Student registration according to the given year.
- On the same page you’ll find the option of “ Scholarship for university students” . open that option and fill in your details.
- The details would be further verified so make sure to put correct details. if wrong then the application would be rejected.
- After that you have to enter your bank details like account number and IFSC code of the bank branch correctly.
- After validating all your details and entering your correct class category , you have to enter a mobile number and submit the OTP you’ll receive on your number.
- As a student you have to verify the identity by giving an official email id, after that you’ll receive a link on your given email , open it and create your login credentials.
- Finally recheck and click on the submit button.
Necessary documents required –
- Scanned copy of your recent passport size photograph of the candidate
- Mark sheet of candidate in pdf format
- Scanned copy of the signature of the candidate
- Fees recipt in pdf format also scanned
- Scanned copy of the class/category/reservation certificate of the candidate in pdf format
- Aadhar card
- Bank details
- Identity proof of the candidate income/ caste certificate
Must read : What is NIOS?
Benefits of PFMS Scholarships –
- Direct scholarship amount transfer
- Diversity : the list of PFMS scholarships offers different programs and scholarship schemes to cater to different categories of candidates.
- Easy registration through an online portal.
- Transparency in the process as it provides timely updates at every single stage of the process.
- PFMS scholarships is applies from school to the college level of education
- Students can check their application status by entering their adhar number and bank account number.
- PFMS scholarships and schemes are helping and encouraging more students for higher education.
After all these details if you are a little bit confused about it. Then there is a helpline number and email id given by the central government.
|Number||1800 118 111|
This article ends here, hope you like it. If you liked it then share it and if you have some kind of thought or suggestion in your mind then please comment us. Because we are eager to know your point of view.
Formal News has always strived hard to provide up-to-date information and commentary on Centre and State Government Schemes that are of interest to you, your family and your Society. We believe in free, fair and credible information.
Even during these difficult times arising out of Covid-19, we remain committed to keeping you informed and updated.
However, We have a request:
As we battle the economic impact of the pandemic, we need your support even more so that we can continue to offer you more quality content. Your support in the form of Donations will be encouraging for us. Your donation can only help us achieve the goals of offering you even better and more relevant content. Your encouragement and constant feedback can help us to improve our offering. We need your financial support. You can support us through the Patreon Link:
Become a Patron!