For those who have no idea what PFMS is, let me help you by telling you how to make payment through PFMS and all the details about it. PFMS is an IT console of the Controller General of Accounts (CGA) and was originally intended to track the funds disbursed from the Government of India to differing stages down below under all Schemes at various levels of implementation in real-time. It has now developed into a combined accounting and tracking portal for payments. NIC offers technical help including application development, database management, portal hosting, etc.
Make all your utility bills payment via NoBroker using your credit card and earn exciting cashback and rewards. Now, pay your monthly house rent via NoBroker using your credit card in an easy and hassle-free manner.Pre-requisites for how to make PFMS payment
State Level Agency Registration & Approval on the PFMS Portal.
Agency mapping using the PD's plan and location.
Agency Admn. creates users of the "Data Operator and Data Approver" kind.
Activate your PFMS account for e-payment and acquire DSC Class II or III for Data Approver DSC enrollment & Signatory Settings in PFMS (DSC&PPA).
PPA is another option for payment.
Account mapping for the agency with the component.
Interaction with several Systems
How to make payment in PFMS?
All Public Sector Banks, RRBs, major commercial banks, Gramin Banks, Cooperative Banks, India Post, and the Reserve Bank of India have linked PFMS with their Core Banking Solutions (CBS). This makes it easier to verify bank accounts, transfer funds, and view implementing agencies' bank balances in close to real-time.
Employing Digital Signature, Corporate Internet Banking (CINB), and Payment Print Advice, the system is set up to process electronic payments. Additionally, PFMS is connected with several MIS of Ministries/Departments and DBT Bharat.
Direct Benefit Transfer:With effect from January 1, 2013, the Government of India implemented Direct Benefit Transfer (DBT) within specific Schemes in specific districts nationwide. Due to the removal of the current intermediary layers, the beneficiary has received payments straight into the bank account that is linked to her or his Aadhaar.
Payment Routes (Debit Bank):
Treasury
Agency Bank Account
PAO (Central level)
Higher Level Agency`s Bank Account
Treasury Single Account (TSA)
From centralized bank account of the State Agency
For the purpose of aiding fledged Departments and Agencies of State Government in implementing PFMS, PFMS has created State Project Management Units (SPMU) in all the states and UTs. Heading SPMUs are State Nodal Officers (SNO).
Now you know all about how to make payment through PFMS.
Read More: What is PFMS in Bank Account? What is Microfinance Institution in India: Benefits? What Is NBFC Company?Your Feedback Matters! How was this Answer?
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Authors Of The Question
How to Make Payment Through PFMS?
Harsha Gupta
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1 Answers
2 Year
2022-09-08T18:50:46+00:00 2022-09-08T18:50:47+00:00Comment
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