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|
|3||Allahabad Gramin UP Bank|
|5||Andhra Pragati Grameena 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|
|14||Catholic Syrian Bank Ltd|
|15||Central Bank of India|
|17||City Union Bank Ltd|
|19||CSB Bank Ltd|
|20||DCB Bank Ltd|
|23||Dhanlaxmi Bank Ltd|
|29||Indian Overseas Bank|
|30||Indusind Bank Limited|
|31||Jharkhand Gramin 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|
|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|
|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|
|59||Union Bank of India|
|60||United Bank of India|
|62||Yes Bank Ltd|
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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.