PFMS Scholarship

We many times have heard about PFMS scholarship, but what is it? What are the eligibility criteria? Why you should know about it? And many more questions you need to get answered about PFMS Scholarship.

PFMS stands for Public Financial Management System (PFMS). Public Financial Management System(PFMS) is a platform for e-payment of subsidy under Direct Benefit Transfer (DBT) to both Aadhar based & Non- Aadhar based bank accounts through NPCI.

This scholarship is the distribution of scholarships to all of the Candidates who are expecting to deliver exceptional performance in higher education in renowned colleges and Universities. It is a web-based application developed to organize the different scholarship schemes.

 The eligibility criteria are different for each scholarship scheme. The information about the varied scholarship schemes is available on the PFMS website. The students can also trace the PFMS payment status on the official portal. The scholarship funds are credited directly to the student's bank account or post-office account through the Direct Benefit Transfer (DBT) system.

What are the schemes of the PFMS Scholarship?

PFMS scholarship schemes are categorized into two types. They are central sector schemes and centrally sponsored schemes. The central sector scheme is a scholarship funded wholly by the central government. Whereas, in centrally sponsored schemes, the central government and the state government share the scholarship funds. 

Given below are the list of different PFMS scholarship schemes:

Below listed are the different PFMS scholarship schemes:

• PFMS scholarship for students in colleges/universities

• Pre-matric scholar given underneath glory students

• Post-matric scholarship for SC category students

• PFMS national means cum merit scholarship

• National scheme of incentive to girl students for secondary education

• Post-matric scholarship for OBC category

• PFMS merit scholarship up-gradation scheme of SC category students

• PFMS top-class education scheme for SC category

What are the Eligibility Criteria for PFMS Scholarship?

The PFMS scholarship eligibility criteria are given underneath:

• The parent’s Annual income should be less than 6 Lakhs per annum.

• The family income should not exceed INR 6,00,000 per annum.

• The students should pursue class 12th and score high score and be in the list of the top  20% of students.

• The age of the candidate should be between 18 to 25 years and there is no relaxation in this condition.

How is PFMS Scholarship beneficial for students?

The selected students receive the following scholarship rewards :

•  Students pursuing graduation for three years are provided with an amount of INR 1,000 per annum.

• Students pursuing postgraduate courses will receive INR 2,000 per month.

• A reward of INR 2,000 per month is provided to students pursuing professional studies in the fourth and fifth years.

The process to Fill Online PFMS Scholarship Application Form:

• Enter the official website of PFMS home page https://pfms.nic.in/

• Click on the section below i.e. Click on 'PFMS Scholarship  Student Registration.’

• Select the system “Scholarship for Universities / College Students.” on the register section.

• Along with the Education Board from which the applicant entered  12th and the academic year of 12th standard.

• Enter the bank details such as bank account number and bank branch IFSC code.

• Click the menu button, pick the category and press “Search.”

• The system will search for the title and fill in the type presented on the display automatically.

• Enter the mobile number, send an OTP to that code, fill in the OTP socket.

• Click the “Verify” button and enter the email ID. Creating a user ID and password and filling in the captcha code below.

• To complete the method, click on “Submit.”

What Documents are Required for PFMS Scholarship Registration?

• Scanned copy of Passport size photo of a Candidate.

• The requirements for photographs will be stated in the Official Notice that the applicant will have to go through very closely.

• The candidate will not be allowed to upload the photo if false information is detected.

• A scanned copy of the Marksheet should be in a pdf format.

•  The candidate’s signature is scanned as per the requirements.

• Premium receipt copy is scanned in a PDF file.