PFMS Scholarship 2021- Eligibility, Benefits, and Application Process

PFMS Scholarship

PFMS, also known as (Public finance management system), formerly known as the central plan scheme monitoring system, is a web-based application. PFMS is used to track down the programs and schemes which are offered by the government.

The system makes it easier for the people to track their scholarships or the other offers available for them in the social sector and the complete tracking of their funds’ disbursement. PFMS also helps students track down their Payment and scholarship status, which are entirely centrally processed in the central sector. The Payment for such centrally processed schemes within the central sector is made through DBT (direct benefit transfer mode).

ABOUT PFMS SCHOLARSHIP PORTAL (PUBLIC FINANCE MANAGEMENT SYSTEM)

There are various questions related to pfms, like which scholarships are enlisted under the pfms section, what is the fundamental difference between the centrally processed central sector themes and others. In this post, you will get all the details related to PFMS scholarships.

PFMS or CPSMS started back in the year 2008-09 was initially created to take track of India’s four flagship schemes or scholarships. The names of the initially intended scholarship were-

  • MGNREGS
  • PMGSY
  • NRHM and
  • SSA

These schemes were started in the states like Madhya Pradesh, Punjab, Mizoram, and Bihar. Later, they were linked to the state/ central government along with the other state agencies.

When the tracking of these four schemes was going straight, the government of India launched DBT schemes which were meant to be tracked by the PFMS portal.

What Is the DBT scheme Under the PFMS portal?

DBT schemes were the great solution provided by the government of India to all the citizens. Under the direct benefit transfer schemes, the payments for pensions, scholarships, and other welfare programs were directly transferred to the beneficiary’s accounts through PFMS. The transaction was through IMPS. Therefore, it didn’t take much time to reach the person’s account. In turn, this excellent theme allowed the students to track the status of their online payments online.

PFMS SCHOLARSHIP SCHEME CATEGORIES

There are two categories of schemes that can be tracked under the pfms portal. The payments of the beneficiaries related to these schemes can easily be tracked and recovered via pfms.

The two broad categories of the schemes are-

  • Central sector schemes
  • Centrally processed schemes

Central Sector Schemes Under the PFMS portal 

  • Central sector schemes are the schemes which are purely funded by the central government. There is no interference from other authorities within the transaction.
  • The central government agency also processes the central sector schemes.
  • The National Scholarship Portal (NSP) can be solely termed as PFMS scholarships. Like it, it Is maintained and implemented through the pfms portal.

Centrally processed schemes under the PFMS portal (CSS)

  • Unlike the central sector schemes, these centrally processed schemes are not purely funded by the central government.
  • The state government contributes some of the percentages of the transaction or Payment.
  • The centrally processed plans are processed and maintained by the state government of India.
  • For example, the scholarships listed under the state section of the PFMS portal or NSP portal.

How to track your centrally processed PFMS scholarship payment status?

You are aware of the types of scholarship provided by the state and central government and how the funding is procured to give the final account to a particular beneficiary. Suppose any candidate has applied for any centrally sponsored scholarship through any state government agencies. In that case, they can check the status of their scholarship status through the PFMS portal by following the steps mentioned below.

STEP 1: Visit the official PFMS website https://pfms.nic.in/

STEP 2: Now, on the page, click on the ‘Know Your Payment section.’

STEP 3: A new separate window will pop up. Fill in the required details, asked on that particular window. Like your bank account number and the name of the bank

Step 4: Carefully read the captcha and enter in the box below on the same window.

STEP 5: Click for the search button

STEP 6: With the quick result, you will get the status of your transaction. Whether the amount has been transferred or in process or is not shared.

How to track your PFMS (NSP) scholarship?

Here’s the process with which you can easily track scholarships available on the national scholarship portal. Usually, students are provided with a varied feature to have a track of the centrally processed scholarships. But for nsp scholarships, you can directly track them.

STEP 1 Visit the official PFMS website.

STEP 2 Click on the track NSP payments.

STEP 3 Fill in all the required details, asked by the form like bank account number, name, and the NSP application id.

STEP4 Enter the verification word captcha carefully.

STEP 5 Click on the search button.

STEP6 You will get the status of your NSP scholarship within a few seconds.

Conclusion 

Here’s everything you need to know about the pfms. You can easily track the scholarship amount by following the steps mentioned above for the different categories of PFMS. Also, various other eligibility criteria are according to the oBC/SC/ ST to avail of the pfms scholarship.

Ensure you have an appropriate look at the pfms portal to have all the required designated documents for the centrally processed or the nsp scholarship services

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