PFMS or Public Financial Management System is a financial management platform installed by the Government of India (by the office of the Controller General of Accounts, Ministry of Finance along with the Planning Commission). It is one of the unique interfaces where the Core Banking System of all banks to provide a real-time report of all of the transactions happening from all over India.
With the help of PFMS, Students can also be benefited as PFMS has started its new scheme of Scholarships. In this scheme, the scholarship money gets directly into their bank accounts. There are various schemes involved in this scholarship program each designed for all of the students like students going to Universities or Colleges.
A shortlist of all the schemes offered:
- PFMS Scholarship 2020 to Universities/College Students
- PFMS 2020 Post Matric Scholarship for SC Students
- PFMS Pre Matric Scholarship for SC Students
- PFMS Student Scholarship National Means cum Merit Scholarship
- PFMS National Scheme scholarship for Incentive for the girl child for secondary education.
- PFMS Scholarship for Top Class Education Scheme for SC.
- PFMS Scholarship for Up-gradation of Merit of SC Students
- PFMS Scholarship for Post-Matric Scholarship for OBCs
As there are many scholarships under this program, only the eligible students would get the scholarship. The eligibility criteria for PFMS scholarship 2020 :
- Students who apply must have completed 12th class and should be in the top 20% of the students.
- Age must be in between 18 to 25yrs.
- The annual income of the parents must be less than 6 lakh per annum.
There are about 82,000 students who get benefited from this scheme each year. Students who are at the Graduation level shall receive a scholarship amount of Rs.1,000 per month for the first three years of College and University courses and Rs.2,000 per month in case of Post Graduation level. The amount directly goes into their bank accounts at the beginning of each month. One needs to apply to the scholarship to avail it, and the application process is simple.
All you need to do is fill in the form online, and that’s it!! It’s as simple as that. The application would require you to fill in some necessary details like Name, Contact number, E-mail, Date of Birth, Education Board, Marks Obtained in the previous class, Grade, Last year results, Institute name in which the student has completed his 12th class. You would be required to set a password at the end and please do note down that password as it is essential and it is the only way to track and get your scholarship.
Each application has to undergo a severe checking process so to know where exactly your scholarship stands, all you have to do is go to the website and track it. You can track your scholarship either by using your Aadhar number or by using your bank account number. You will also have to renew your scholarship every year. If the student has been found of maintaining an excellent academic record throughout the year, then his scholarship can continue. You can renew your scholarship by visiting the portal, and all you have to do is select the renewal option. Enter the required details, and in the end, you are required to give an active mobile number for which you shall receive an OTP. You then have to provide a valid e-mail ID for verifying purposes.
The official site for PFMS Scholarship is pfms.nic.in