What is PFMS?
Actually, it’s an online software application that was developed for some specific purpose. PFMS online system was developed by the Office of Controller General of Accounts (CGA).
It provides an online platform for e-payment to achieve direct benefit for subsidy transfer to both Non-Aadhar based & Aadhar based bank accounts.
This application was designed in a very flexible manner and is compatible with integrating with the country's core banking system.
Let me tell you a bit about PFMS (PFMS History)
PFMS was released during 2009 as a Central Sector Scheme of Planning Commission with the intention to monitor funds introduced under the Government of India Plan strategies and real-time reporting of cost in any way levels of the execution of this strategy.
Following a couple of decades, from the year 2013, the range was enlarged to pay direct payment to beneficiaries under the Strategy and non-plan schemes. Read More......