How PFMS scholarship benefits students?

by Austin Clarke Content Writer

The Public Financial Management System (PFMS) is a financial management initiative undertaken by the Government of India. Initiated by the Controller General of Accounts (CGA) under the direction and monitoring of the Finance Ministry, Department of Expenditure.

This initiative focuses on keeping a track of all the resources employed for the social sector programs and ensures that the procured resources are utilized legitimately. PFMS offers multiple scholarships to its applicants for students from different sections of the country with a view of making education affordable and accessible.

The Public Financial Management System (PFMS) is a comprehensive fund flow management system integrating safe payment and accounting system.

List of scholarships provided under Financial Management System (PFMS) 2019-2020

  1. PFMS Scholarship 2019 to Universities/College Students

  2. PFMS 2019 Post Matric Scholarship for SC Students ( sc)

  3. PFMS Scholarship 2019 Pre-Matric Scholarship for SC Students

  4. PFMS Student Scholarship National Means cum Merit Scholarship

  5. PFMS Scholarship 2019 National Scheme for Incentive for the girl child for secondary education

  6. scholarship 2019 Top Class Education Scheme for SC

  7. scholarship for Up-gradation of Merit of SC Students

  8. scholarship for Post-Matric Scholarship for OBCs

Benefits of Public Financial Management System (PFMS) Scholarship to students

Apart from making education affordable and accessible to the underprivileged students, the PFMS scholarship makes it easier for applicants to receive monetary scholarships instantly and on time.

Mentioned below are some of the important indicators describing the benefits of the PFMS scholarship:

  1. Simplified fund transfer
    PFMS has made the fund transfer easy and direct to the applicants without the need of a third intermediary. Now the government scholarship funds will be directly transferred to the concerned students with the aid of PFMS.

  2. Quick transfer
    Students can raise the application of their scholarship in a couple of minutes and since there are no lengthy procedures of documentation, the transfer is done instantly within no-time.

  3. Automated payment mechanism
    The payment gateway at PFMS is based on the automated mechanism, free of human intervention. It operates automatically and disburses the scholarships with great precision and efficiency.

  4. Dedicated account dashboard
    Each student gets a dedicated account with username and password login. Ensuring efficient and secure tracking of all the transactions in one place.

  5. Constant Helpline
    PFMS provides a helpline for all students appliers to solve all the quires and issues and concerns if there happened to be any.

  6. Easy Renewal
    The renewal of the scholarship becomes more relaxed as the students can make use of their existing account with the PHMS for submitting their renewal application.

  7. Constant updates and alerts
    The students are given periodic updates on various phases of the scholarships so that the students do not miss out on any relevant and critical information.

  8. Assistance through online journals
    There is an online guide which helps novice students to fill out their applications. It is a step by step manual which to simplify filling of the application.

Important contact details of the Public Financial Management System (PFMS)

Contact Number: 1800 118 111

Email address:

Feature Image Credit: Source

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About Austin Clarke Junior   Content Writer

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Joined APSense since, July 9th, 2019, From Auckland, Switzerland.

Created on Dec 13th 2019 09:18. Viewed 668 times.


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