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What is PFMS? - public financial management system

August 08, 2021

What is PFMS? Many people do not know about it, so even if you do not know What is  PFMS? So in this post, you will get answers to all your questions. Let us tell you that PFMS was started in 2016 by the Government of India. In this, both the Finance Ministry and the Planning Commission work together.

Apart from this, before PFMS, funds were given directly to the users through Direct Benefit Transfer System, which started in the year 2013.

What is PFMS? Many people do not know about it, so even if you do not know What is PFMS? So in this post, you will get answers to all your questions. Let us tell you that PFMS was started in 2016 by the Government of India. In this, both the Finance Ministry and the Planning Commission work together. Apart from this, before PFMS, funds were given directly to the users through Direct Benefit Transfer System, which started in the year 2013. What is PFMS? - public financial management system What is PFMS? In fact, PFMS is a method with the help of which the subsidy given by the government and other financial benefits related to it is directly deposited in the bank account of the users. This is the best step by the Indian government so that with the help of this, cases like fraud and corruption can be stopped and the users can get the full benefit of this subsidy and benefits. PFMS is a kind of electronic system. without any interference, millions of rupees are sent to the bank accounts of all the users with just one click. https://www.hinditechnoguru.com/pfms-kya-hai-kaise-kam-karta-hai/#EthicalHacking What is the full form of PFMS? The full form of PFMS is Public Financial Management System and as you have been told that with the help of this, funds are given to the users by the central government. Which is directly deposited in the bank account of the users by the Government of India. How does PFMS work? So we have come to know that what is PFMS? Now you know how it works. So let us tell you that this is a kind of user-generated software, which is controlled by the Government of India. In which the details of every person associated with the government are in it, which are updated from time to time by the government. With the help of preserving details in the users with the government, the government is able to give subsidies or financial benefits to the users. The Planning Commission does the work of updating the data of the same users. Talking about the NITI Aayog, it prepares a list of users who have to be given benefits by the government. Then when the government has to benefit the users under any scheme, then NITI Aayog makes a list of all the users to whom the benefit is to be given. Then it prepares the complete details of all those users, in which a list of their names and bank account details are prepared, then the funds are distributed to all these bank accounts simultaneously. In this way, money is directly transferred to the accounts of the beneficiaries easily and without any interruption. What are the benefits of PFMS? With the help of this, money is deposited directly into the bank account of the users, due to which corruption is not possible and the users get their full money. Apart from this, after the arrival of PFMS, users no longer have to travel to their offices much. Otherwise, due to its absence earlier, the users had to make many rounds of the offices and had to beg the officials to do the work. With the advent of PFMS, the benefits of any kind of government schemes run by the government have started coming soon, otherwise, this method used to take a lot of time. Due to this, a lot of time has been saved for the users and the work started with transparency. Now the government is able to send money to the accounts of the beneficiaries much faster and easier than before, due to its arrival, now the government is able to send money to the bank accounts of millions of users simultaneously. This system is a completely Electronic Payment System, which is completely based on Computer Software and the Internet. Which means that no one can tamper with it. Under DBT, the money in the bank accounts of the users goes to the bank account of the Beneficiary. In such a situation, there is no need to depend on anyone for money. Subsidy available through PFMS system? Under many schemes by the Government of India, the benefit of subsidy is given to the beneficiaries through PFMS which is sent to their bank accounts. are the following: To give scholarships to the students. Benefits of Pradhan Mantri Awas Yojana. Money received from the old-age pension. Loan waiver. The subsidy is given by the government on gas cylinders. Money of laborers working under MNREGA. Money benefits are related to other and many types of government schemes, which are sent to the beneficiaries through PFMS in the bank account of the users. When was the PFMS scheme started? This scheme was started by the Government of India in the year 2016. This scheme was done in collaboration with the Ministry of Finance and Planning Commission. Where meeting with both of them gave ease to both of them in doing their work. Before the start of the same PFMS system, the amount of subsidy in the accounts of the users was sent to the accounts of the users under DBT (Direct Benefit Transfer). DBT was started on 1st January 2013, where the main purpose of starting it was that the subsidy money could be transferred directly to the bank accounts of its beneficiaries. Initially, the name of PFMS was CPSMS (Central Plan Scheme Monitoring System). But from the year 2016, the money benefits of all the schemes run by the Government of India through the PFMS system started being sent directly to the users (beneficiaries) bank account under DBT. How to use PFMS? If you want to use PFMS then you have to first go to its official website. Where on its home page itself, you will see the option of 'Know Your Payments'. Now you have to click on it. Here you have to fill in the information related to your bank account. In which you will have to fill in your name and bank account number as soon as you fill it all. After that, you have to fill in the below-given captcha. On which some words will be written, it has to be filled in the box. After filling the captcha, now you have to click on the search option, after which your information will go to your PFMS website. In this way you can access the PFMS website, the government already has our bank details because Aadhaar which is linked to PAN card, and Aadhaar and PAN are linked to Bank Account. In this way, the government has our complete information and it comes when we have to get money for benefits under any government scheme. So, friends, I hope that you have understood the above-mentioned things correctly and must have understood that PFMS Kya Hai? How does it work and what are the benefits of PFMS? If I have missed any information or you have something to tell, then you can comment below. For more such information, keep coming here and share this post with your friends and boost our morale. And if you want an article on a new topic or need any kind of information, then definitely tell through comment or contact.

What is PFMS?

In fact, PFMS is a method with the help of which the subsidy given by the government and other financial benefits related to it is directly deposited in the bank account of the users.
This is the best step by the Indian government so that with the help of this, cases like fraud and corruption can be stopped and the users can get the full benefit of this subsidy and benefits. PFMS is a kind of electronic system. without any interference, millions of rupees are sent to the bank accounts of all the users with just one click.
https://www.hinditechnoguru.com/pfms-kya-hai-kaise-kam-karta-hai/#EthicalHacking

What is the full form of PFMS?

The full form of PFMS is Public Financial Management System and as you have been told that with the help of this, funds are given to the users by the central government. Which is directly deposited in the bank account of the users by the Government of India.

How does PFMS work?

So we have come to know that what is PFMS? Now you know how it works. So let us tell you that this is a kind of user-generated software, which is controlled by the Government of India.
 
In which the details of every person associated with the government are in it, which are updated from time to time by the government.
With the help of preserving details in the users with the government, the government is able to give subsidies or financial benefits to the users. The Planning Commission does the work of updating the data of the same users.
 
Talking about the NITI Aayog, it prepares a list of users who have to be given benefits by the government. Then when the government has to benefit the users under any scheme, then NITI Aayog makes a list of all the users to whom the benefit is to be given.
Then it prepares the complete details of all those users, in which a list of their names and bank account details are prepared, then the funds are distributed to all these bank accounts simultaneously. In this way, money is directly transferred to the accounts of the beneficiaries easily and without any interruption.

What are the benefits of PFMS?

  • With the help of this, money is deposited directly into the bank account of the users, due to which corruption is not possible and the users get their full money.
  • Apart from this, after the arrival of PFMS, users no longer have to travel to their offices much. Otherwise, due to its absence earlier, the users had to make many rounds of the offices and had to beg the officials to do the work.
  • With the advent of PFMS, the benefits of any kind of government schemes run by the government have started coming soon, otherwise, this method used to take a lot of time.
  • Due to this, a lot of time has been saved for the users and the work started with transparency.
  • Now the government is able to send money to the accounts of the beneficiaries much faster and easier than before, due to its arrival, now the government is able to send money to the bank accounts of millions of users simultaneously.
  • This system is a completely Electronic Payment System, which is completely based on Computer Software and the Internet. Which means that no one can tamper with it.
  • Under DBT, the money in the bank accounts of the users goes to the bank account of the Beneficiary. In such a situation, there is no need to depend on anyone for money.

Subsidy available through PFMS system?

Under many schemes by the Government of India, the benefit of subsidy is given to the beneficiaries through PFMS which is sent to their bank accounts. are the following:
  • To give scholarships to the students.
  • Benefits of Pradhan Mantri Awas Yojana.
  • Money received from the old-age pension.
  • Loan waiver.
  • The subsidy is given by the government on gas cylinders.
  • Money of laborers working under MNREGA.
  • Money benefits are related to other and many types of government schemes, which are sent to the beneficiaries through PFMS in the bank account of the users.

When was the PFMS scheme started?

This scheme was started by the Government of India in the year 2016. This scheme was done in collaboration with the Ministry of Finance and Planning Commission. Where meeting with both of them gave ease to both of them in doing their work.
 
Before the start of the same PFMS system, the amount of subsidy in the accounts of the users was sent to the accounts of the users under DBT (Direct Benefit Transfer). DBT was started on 1st January 2013, where the main purpose of starting it was that the subsidy money could be transferred directly to the bank accounts of its beneficiaries.
Initially, the name of PFMS was CPSMS (Central Plan Scheme Monitoring System). But from the year 2016, the money benefits of all the schemes run by the Government of India through the PFMS system started being sent directly to the users (beneficiaries) bank account under DBT.

How to use PFMS?

If you want to use PFMS then you have to first go to its official website. pfms.nic.in/NewDefaultHome.aspx
  • Where on its home page itself, you will see the option of ‘Know Your Payments’. Now you have to click on it.
  • Here you have to fill in the information related to your bank account.
  • In which you will have to fill in your name and bank account number as soon as you fill it all.
  • After that, you have to fill in the below-given captcha. On which some words will be written, it has to be filled in the box.
  • After filling the captcha, now you have to click on the search option, after which your information will go to your PFMS website.
  • In this way you can access the PFMS website, the government already has our bank details because Aadhaar which is linked to PAN card, and Aadhaar and PAN are linked to Bank Account. In this way, the government has our complete information and it comes when we have to get money for benefits under any government scheme.
  • So, friends, I hope that you have understood the above-mentioned things correctly and must have understood that PFMS Kya Hai? How does it work and what are the benefits of PFMS? If I have missed any information or you have something to tell, then you can comment below.

For more such information, keep coming here and share this post with your friends and boost our morale. And if you want an article on a new topic or need any kind of information, then definitely tell through comment or contact.

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