PFMS - Public Financial Management System | All About PFMS

Posted by B2B on March 3rd, 2020

The word management has always connoted something that is arranged in its very well form. People say managing everything in life is easier than managing finance. But the PFMS which means the Public Finance Management system has given a new dimension of financial management which is backed up with technological innovations. The PFMS is earlier known as Central Plan Scheme Monitoring System. In common words, PFMS is used by government agencies to pay directly to the recipient’s bank account.

The common aim behind the use of PFMS is to give the users a common platform for e-payment of subsidy under direct benefit transfer (DBT) TO both the account users, that means Aadhar and Non-Aadhar based bank accounts through NPCI.

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