The Full Form of PFMS Meaning, and Definition 

On this page, We are going to learn about the full form of PFMS and the meaning of PFMS, As well as the meaning, definition, and acronym for PFMS in different categories. So you should read this post till the end.

The Full Form of PFMS: Public Financial Management System

“PFMS” stands for Public Financial Management System. PFMS is a web-based online portal, developed and implemented by NITI Aayog, the Union Government, and the Ministry of Finance. Initially, the PFMS portal was known as CPSMS (Central Plan Scheme Monitoring System).

This portal was started in the year 2009. It allows recipients to deposit subsidies and other monetary benefits into their bank accounts.

There are records of every aspect of the central government’s assistance. Any citizen may check the amount of assistance provided by the government through this portal.

Benefits of PFMS

  • The money that the government receives is deposited into the user’s bank account with the aid of PFMS.
  • Through the PFMS portal, anyone can check their payment online from home.
  • The amount of benefit will not need to be collected from multiple offices by citizens.
  • The online process will bring transparency to the work.
  • The advantages of government programs will be immediately available with the help of PFMS.
  • Beneficiaries will get online subsidies or other monetary benefits directly in the bank account
  • This system is based on the electronic payment system, which can avoid any kind of fraud.
  • Under DBT (Direct Benefit Transfer) the benefit of funds in the bank account of the user is provided.

How to Check Your PFMS Payment Status

The process of online checking your PFMS payment status can be checked very easily with the help of PFMS, The steps listed below can be used by users to check the status of their payments. Here are those steps:

  1. Candidates can check their payment status by clicking on the official website of the Public Financial Management System (PFMS).
  2. Following that, the homepage of the PFMS website will appear on your screen.
  3. You can access the Know Your Payments option on the home page itself.
  4. Your screen will display the payment check form after clicking.
  5. Enter the bank, and account number, and confirm the account number, followed by the captcha code (word verification).
  6. Then click the button to send OTP to your registered mobile number.
  7. You will receive an OTP (One Time Password) on your registered mobile number.
  8. Enter your OTP
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