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PFMS Bank List 2022 – Check Here!

January 31, 2022 by Karan

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
1Abu Dhabi Commercial Bank
2Allahabad Bank
3Allahabad Gramin UP Bank
4Andhra Bank
5Andhra Pragati Grameena Bank
6Axis Bank
7Bank of Bahrain and Kuwait
8Bank of Baroda
9Bank of India
10Bank of Maharashtra
11Bassein Catholic Co-op. bank Ltd
12Bombay Mercantile Co-op. Bank Ltd
13Canara Bank
14Catholic Syrian Bank Ltd
15Central Bank of India
16Citibank
17City Union Bank Ltd
18Corporation Bank
19CSB Bank Ltd
20DCB Bank Ltd
21Dena Bank
22Deutsche Bank
23Dhanlaxmi Bank Ltd
24HDFC Bank
25HSBC
26ICICI Bank
27IDBI Bank
28Indian Bank
29Indian Overseas Bank
30Indusind Bank Limited
31Jharkhand Gramin Bank
32Karnataka bank
33Karur Vysya Bank
34Kotak Mahindra Bank
35Madhya Bihar Gramin Bank
36Maharashtra Gramin Bank
37Manipur State Co-op. Bank Ltd
38New India co-op. Bank Ltd
39NKGSB Co-op. Bank Ltd
40Oriental Bank of Commerce
41Punjab and Sind Bank
42Punjab National Bank
43RBL Bank
44South Indian Bank
45SARVA U.P Gramin Bank
46Standard Chartered Bank
47State Bank of India
48SVC Co-operative Bank Ltd
49Syndicate Bank
50Tamil Nadu Mercantile Bank Ltd
51The Cosmos Co-operative Bank Ltd
52The Federal Bank Ltd
53The Jammu and Kashmir Bank Ltd
54The Kalupur Commercial Co-op. Bank Ltd
55The Lakshmi Vilas Bank Ltd
56The Saraswat Co-operative Bank Ltd
57The Thane Janata Sahakari Bank Ltd
58UCO Bank
59Union Bank of India
60United Bank of India
61Vijaya Bank
62Yes 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.

Filed Under: Scholarship

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