PFMS/PFMS MEANS? PFMS REGISTRATION/ KNOW YOUR PAYMENT

Today we are going to discuss about public financial management system (PFMS). What this PFMS means? So let us begin.

The PFMS full form is Public Financial Management System.

Its name only tell us certain things about it. Earlier it was known as Central Plan Schemes Monitoring Systems (CPSMS). When there were distinction between govt. expenditure as plan expenditure and non- plan expenditure PFMS used be a CPSMS which is the system which monitors the plan schemes of the central govt.

PFMS is web based online software application developed and implemented by the office of Controller General of Accounts (CGA), Ministry of Finance.

Initially started during 2009 as a Central Sector Scheme of Planning Commission. And objective of this PFMS was to track fund released under all Plan Schemes of the govt. of India, and real time reporting of expenditure at all levels of programme implementation, and this was the basic objective with which it was launched.

Subsequently in the year 2013 the scope was enlarged to cover direct payment to beneficiaries under both plan and non-plan schemes. In 2017, the govt. scrapped the distinction between plan and non-plan expenditure and thereby renamed as Public Financial Management System.

The primary objective of PFMS to facilitate a sound Public Financial Management System for the govt. of India by establishing an efficient fund flow system as well as a payment cum accounting network.

At present, the ambit of PFMS coverage includes Central Sector and Centrally Sponsored Schemes as well as other expenditure including the Finance Commission Grants. So these are the present jurisdiction or present scope of the PFMS.

Central Sector schemes means for which 100% of funding is given by Union govt. or by the Central govt. and implementation of this type of scheme is done by also Central govt. whereas Centrally Sponsored schemes, these are the schemes for which financial part finance for the scheme is shared between Central govt. and State govt. in some particular ratio.

PFMS provides various stakeholders including citizens with a real time, reliable and meaningful management information system and an effective decision support system, as part of the Digital India initiative of the govt. of India.

PFMS is integrated with the core banking system in the country. And core banking system in the country is E-kuber initiated by the central bank RBI.

E-kuber is the Core Banking Solution (CBS) of Reserve Bank of India. CBS can be defined as a solution that enables banks to offer a multitude of customer-centric services on a 24*7 basis from a single location, supporting retail as well as corporate banking activities.

The centralisation thus makes a “one-stop” shop for financial services a reality. Using CBS, customers can access their accounts from any branch, anywhere, irrespective of where they have physically opened their accounts.

PFMS Payment / Know Your Payment

PFMS carry out your all online transaction. Many of us thinks that they can check their account main balance through this but it is not like that you can check only the amount that is transferred to your account by Government.

NOTE: While checking your payment status if you find ‘No Record Found’ option that means no amount is transferred to your account. 

·        Search for PFMS on Google.

·        Open the first website that is pfms.nic.in.

·        Then click on ‘Know your payment’ option.

·        Enter the name of bank, enter starting letters of it and it will show you the name of the bank.

·        Then enter your account number.

·        Again enter your account number for confirmation.

·        Enter the captcha code which is shown to you on screen.

·        You will able to check the amount which is transferred to your account.

PFMS Registration/ Agency Registration on PFMS Portal

I am going to guide about registration process and which are the field required to be filled.

·        First you should enter ‘pfms.nic.in’ in web browser.

·        Then click on the login menu. You will able to see the link called Agency Registration, click on that link and you will arrive on that page which contain all the information about.

·        The documents and the instruction you need to read carefully before proceeding registration process.

·        Also make sure that the information related to the following documents is ready during the entire process of registration.

1.     Act and Registration No. under which your agency is registered.

2.     Date of Registration.

3.     TIN/TAN/PAN No. depending upon the type of registration.

4.     A valid (operational) e-mail ID and mobile number.

5.     Scheme Name. (under which you intend to register)

6.     Bank Account Number

7.     Bank Name and branch details.

·        First you will have to fill type of registration. Click on drop down menu and you will see various type of registration on this portal, select the type of registration which you want.

·        Next is agency name, carefully write your agency name as per your agency document

·        Act/Registration no. the act under which your agency is registered and the registration no. as per your documents.

·        The next is the date of registration your agency.

·        Then comes registering authority, the authority which has registered your agency.

·        The state of registration, the state in which your agency exist.

·        Other two fields belong to TIN No and PAN No you have to provide any one of them.

·        The address of your agency, this should be the mailing address, please fill this very carefully because all the written communication all into this address.

·        Enter city, state, district and pin code.

·        Then contact person, can be any person or designation of your agency who is responsible to respond from either side.

·        In the next field you can give the phone no. of this person.

·        The next field is email ID, this is very important because all the communication and even your login ID and password will be sent to this email address.

·        The next field is unique agency code, the code which you have to generate yourself and you have to remember it  and it is advisable to keep little note of separately because in case if forgot this code you can refer that written code.

·        The word verification, enter the letters which appears in green colour.

·        After filling word verification you have to verify all the information you have provided so far. When you ensures that all the information you have submitted is correct then click on next button.

·        The next page will open after that with heading ‘scheme bank details’.

·        First field on this page is ‘scheme’ the scheme you have to choose from right side link and you will see the pop up box will open, there is search field, and you can search the scheme.

·        Next is bank, again you have to select the bank from link given on right side link, another pop up box will open and you can select the bank.

·        Similarly you have to fill the branch address through pop up box.

·        Next field is Account no. and the name as per your bank document. This you have to enter it very carefully as per appearing on your documents.

·        After this click ‘add bank scheme’ button and you will see the details of scheme that you have selected and bank details.

·        After getting ensure that whatever you have submitted is correct you can click ‘accept terms and condition’ button and then submit button

.

·        You will able to see on the top of the registration page that agency saved successfully.