Originally posted 2022-02-12 19:57:44.
The full form of PFMS is Public Financial Management System. It is also known as the Central Plan Schemes Monitoring System. As the name suggested, you all know it is about financial management. It is an online software application that is generally used by banks & it was developed by the Controller General Of Accounts. PFMS supports online payment methods, it is very safe & quick. The electronic payment of subsidy gives to both adhaar based & non-adhaar based accounts. Moreover, this is under the DBT (Direct Benefit Transfer) through the National Payment Corporation of India (NPCI).
PFMS means Public Financial Management System. You all know it is about financial management. It is an online software application that is generally used by banks. PFMS supports online payment methods; it is very safe & quick. Many of the banks have applied for DBT payments through the National Payment Corporation of India.
Furthermore, many of the banks have implemented DBT payments through the National Payment Corporation of India. This is for the benefits transferred to the beneficiary covered under the schemes. The main objective of the Public Financial Management System is to provide a fund flow system & a payment cum accounting system. They promote the online banking system. This is the system where all banks record their real-time transactions in the addition to Core Banking System. Moreover, the purpose of PFMS is to provide greater transparency & accountability to social sector monitoring that has not existed until now. The person behind making this system whose name is “Sameer Jaiswal”.
Who is eligible for the PFMS(Public Financial Management System)?
Eligibility Criteria for PFMS Scholarship –:
The candidate must be an Indian citizen. The candidate must have passed the Class 12 examination. He or she must be the top scorers (among the best 20%) in the education field. Age criteria -:The candidate must be between 18 to 25 years.
There are three types of financial decisions such as investment decisions, financing decisions, and dividend decisions. Public Finance Management System (PFMS) was called The Central Plan Scheme Monitoring System (CPSMS). PFMS is implemented by the Office of Controller General of Accounts (CGA), Ministry of Finance.
Using advanced technology, the Public Financial Management System (PFMS) has established fifty beneficiary management systems connected with several ministries and departments, such as NSAP, AwasSoft, MNREGA, Soft, MCTS, PM-KISAN, and Kanyashree. All 28 states and 2 union territories have different PFMS. PFMS launches a variety of improvement programs.
| Term | Full Form |
| PFMS | Public Financial Management System |
FAQ’s
It is also known as the Central Plan Schemes Monitoring System. As the name suggested, you all know it is about financial management. It is an online software application that is generally used by banks & it was developed by the Controller General Of Accounts.
PFMS is short form of Public Financial Management System.
Public Financial Management System is full form of PFMS.