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PFMS stands for the Public Financial Management System. It was previously known as CPSMS (Central Plan Schemes Monitoring System). This is the online software program that was designed and introduced by the CGA (Controller General of Accounts). PFMS is the transaction based system which provides the real time utilization of the funds. These funds are released from the total funds of India. PFMS has been created in such a way that it meets the end to end requirements of the fund management and accounting department. PFMS (Public Financial Management System) is designed for transferring the money as subsidies directly to the person in their bank account. If there is a need to transfer money into a post office account, it can also be done through the public financial management system.
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Step-4: Once you click on that, a new page will open on your screen. Now fill-in the required details such as your account number, mobile number and bank name.
Step-5: Submit all those details to know your payment status.
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3. Click on that link and a new window will open. Now, you have to fill-in the required fields such as bank name. account number, application ID, etc.
4. Fill-in the asked details and search for the same.
5. After completing the final steps, you will get the NSP payment details on your screen.
History of PFMS?
PFMS, was also known as the Central Plan Schemes Monitoring System. It was the online programming application which was created by the Office of the Controller General of Accounts. PFMS was started in the year of 2009 as the Central Sector Scheme of Planning and Commission to follow support under all schemes of the Indian Government. In late 2014, the upgraded functionalities of PFMS started. Through the PFMS, the digitization of the records will be accomplished and also the extra functionalities would be incorporated for various stages.What is the purpose of PFMS?
- Encourage the open money related framework for the government by creating an effective reserve stream of the framework.
- Furnishes different partners with the different data framework such as ongoing framework, solid and important administrative work.
- Constant use at all degrees of the usage of program.
- Incorporation of focal division and midway supported plans as different consumptions including money commission awards.
- PFMS is designed for transferring the money as subsidies directly to the person in their bank account. If there is a need to transfer money into a post office account, it can also be done through the public financial management system.
Need of PFMS
There are various types of schemes initiated by the government for the public. Sometimes those schemes include subsidies and transferring the money to the public or needy people from the treasury. Unfortunately, any natural disaster harms many people, like flood, famine, or cyclone, harms entire areas or villages. Sometimes any natural calamities destroy an entire crop of farmers, and then all the victims deserve relief funds from the government. So when the government announces to distribute relief funds to every victim, there is the need and role of the public financial management system. PFMS becomes a link for distributing relief funds into the bank accounts of needy people or victims from the treasury. This issue defines the need to design PFMS. Besides transacting relief funds to victims, there is a feature of tracking the payment on the website of the public financial management system. It means any user can track the National scholarship portal payments from the website. The students looking forward to receiving the scholarship can track their payments from the PFMS website.Features of PFMS Website
Mainly there are three types of features available on the PFMS website. One of them is “Know your payment status.” The second of them is “Track your NSP (National Scholarship Portal) payment.” The third of them is “NTRP (Non-Tax Receipt Portal).”How to check the payment status?
Those who want to check the payment status can follow the below-mentioned steps – Step-1: Click on the open “PFMS” link. Step-2: A new page will be opened on your screen, and there you get three choices. Step-3: Now click on the “know your payment status”.
Step-4: Once you click on that, a new page will open on your screen. Now fill-in the required details such as your account number, mobile number and bank name.
Step-5: Submit all those details to know your payment status.
What are the categories in PFMS?
There is a division of categories on the PFMS website. The categories mentioned on the website are Farmers, health, social security and pensioners, women and children and certificates, etc.How can we track the NSP payment?
Those who want to track the National Scholarship Portal (NSP) payment, then you can follow the below provided steps – 1. Open PFMS official website. 2. Find the link for “track NSP payment”.
3. Click on that link and a new window will open. Now, you have to fill-in the required fields such as bank name. account number, application ID, etc.
4. Fill-in the asked details and search for the same.
5. After completing the final steps, you will get the NSP payment details on your screen.
