[Updated*] PFMS Bank List 2022

PFMS Bank List 2022: Public Financial Management System PFMS Scholarship has been publicly announced by the government of India. It offers financial funds and resources to students to help them meet their educational expenses. This scheme is largely beneficial to students from scheduled caste, scheduled tribe, other backward castes, and economically deprived classes. The list of banks integrated with PFMS 2022-23 and the PFMS bank master list is given below.

List of Banks Integrated with PFMS

The robust implementation of PFMS has brought in transparency, monetary flow consistency, accountability, clarity of records, efficient utilization of funds at all levels, manage cash flow from various agencies, recording actual utilization of fund releases, improvised financial debt management system, offering public information and online status of fund availability. All banking channels and financial institutions have earned profit and reaped benefits from this magnanimous venture by the government. The list of PFMS banks is given below

Sr No.	Bank Name
1	Abu Dhabi Commercial Bank
2	Allahabad Bank
3	Allahabad Gramin UP Bank
4	Andhra Bank
5	Andhra Pragati Grameena Bank
6	Axis Bank
7	Bank of Bahrain and Kuwait
8	Bank of Baroda
9	Bank of India
10	Bank of Maharashtra
11	Bassein Catholic Co-op. bank Ltd
12	Bombay Mercantile Co-op. Bank Ltd
13	Canara Bank
14	Catholic Syrian Bank Ltd
15	Central Bank of India
16	Citibank
17	City Union Bank Ltd
18	Corporation Bank
19	CSB Bank Ltd
20	DCB Bank Ltd
21	Dena Bank
22	Deutsche Bank
23	Dhanlaxmi Bank Ltd
24	HDFC Bank
25	HSBC
26	ICICI Bank
27	IDBI Bank
28	Indian Bank
29	Indian Overseas Bank
30	Indusind Bank Limited
31	Jharkhand Gramin Bank
32	Karnataka bank
33	Karur Vysya Bank
34	Kotak Mahindra Bank
35	Madhya Bihar Gramin Bank
36	Maharashtra Gramin Bank
37	Manipur State Co-op. Bank Ltd
38	New India co-op. Bank Ltd
39	NKGSB Co-op. Bank Ltd
40	Oriental Bank of Commerce
41	Punjab and Sind Bank
42	Punjab National Bank
43	RBL Bank
44	South Indian Bank
45	SARVA U.P Gramin Bank
46	Standard Chartered Bank
47	State Bank of India
48	SVC Co-operative Bank Ltd
49	Syndicate Bank
50	Tamil Nadu Mercantile Bank Ltd
51	The Cosmos Co-operative Bank Ltd
52	The Federal Bank Ltd
53	The Jammu and Kashmir Bank Ltd
54	The Kalupur Commercial Co-op. Bank Ltd
55	The Lakshmi Vilas Bank Ltd
56	The Saraswat Co-operative Bank Ltd
57	The Thane Janata Sahakari Bank Ltd
58	UCO Bank
59	Union Bank of India
60	United Bank of India
61	Vijaya Bank
62	Yes Bank Ltd

Related Articles – PFMS Login 2022 | PFMS Know Your Payment

Benefits of PFMS

The benefits of PFMS are instrumental in bringing about real-time changes at the district level, state level, and national level. The citizens benefit in many ways:

The Draft Sanction Modules reduces typing work, data entry work, and errors in sanctions. The sanction orders can be tracked from the implementing agencies, and releases can be communicated to respective individuals and entities.
It issues time-stamped releases and generates reports on pending and settled sanction orders. The pending sanctions are effectively phased out to the banks and further clearance advisories from the DDO and further to the PAO.
BE system inside PFMS generates fund transfer records, investment statements, sanction orders per scheme, agency, state, and ministry.
NGOs and other organizations can easily withdraw designated grants from more than one scheme seamlessly while the government ensures adequate utilization and percentile exertion of funds.
For citizens, it offers timely alerts upon fund outreach, provision to do direct payment/ conditional cash transfers for social sector schemes, citizen registration, online banking transactions, payments through DD/Cheque/ RTGS/ ECS, and other means.

Please Note: The above given PFMS Banks List is updated as per the academic year 2022-23.