The Public Financial Management System or PFMS Scholarship is a unique initiative by the central government to channelize scholarships directly to the intended user without the need of any middlemen engaging in disbursal of scholarship amount.
Every year in budget allocations, the central government allocates and invests a certain amount of funds in giving out selective scholarship amounts to deserving and meritorious candidates.
This fund/scholarship amount is facilitated through the ‘Direct Benefit Transfer’ method to reach the hands of the candidate, thereby reducing any foul play/misuse of money by other agents in the fund transmission process.
Money is lent to the Candidates’ account from the central government fund through NEFT process. The whole process is governed by the O/O controller general of accounts, under the ministry of finance.
More than 82,000 students across the country are availing this benefit every year for various study purposes.
Some of the necessary points to note with regard to PFMS Scholarship 2020 are:
PFMS offers a wide range of scholarships that caters to different categories of students belonging to different levels of education, from school to college and merits based on reservation. The PFMS list of scholarships available for the year 2019-2020 is listed below:
PFMS scholarship for college/university students
PFMS post-matric scholarships for SC/ST students
PFMS scheme of post-matric scholarship for SC students
PFMS scholarship of national means cum merit scheme
PFMS national scheme of incentive for girl child
PFMS post-matric scholarship for OBC students
PFMS up-gradation scheme for the benefit of SC students
PFS scholarship to provide top-class education to SC students
PFMS Scholarship 2020 – Registration Process
Candidates can apply for more than one application under the PFMS scheme. For this purpose, candidates need to complete the application form with all the compulsory and necessary details and submit the form.
Candidates can login to the official website of PFMS to fill up and submit the application form. All information pertaining to the scholarship name, the 12th passing marks of the candidate, and other relevant data shall be kept ready before applying.
Candidates must ensure that all data they enter in the application form can be cross-checked and verified, and no data is incorrect/irrelevant.
Documents must support all information. The government shall cross-check the entered data of each candidate while processing all applications. Applications shall be available and must be submitted in the ONLINE mode only.
There shall be no other way/means to submit the form whatsoever. Once the candidate is sure of meeting the minimum eligibility conditions, he shall proceed to register himself first on the website and then apply for the scholarship.
Once the application portal under PFMS is open to the public (is activated), then candidates may begin applying for it.
While applying for the scholarship, all relevant details like contact information, bank details, etc. must be kept ready, so there is no delay in entering information. Upon entering the correct mobile number, students shall receive an OTP on the entered number, thus validating the information.
Candidates should be careful while selecting the class/category they belong to.
Steps to Register on the PFMS Website
Go to the official PFMS website.
Check out for “PFMS 2020 scholarship – student registration’.
In the same portal, click on “ Scholarships for university/ college students.’
Enter education details like the year of passing the 12th standard.
Enter the respective bank account details like account number and IFSC code of the bank branch correctly.
Select the correct category of the candidate.
Check and validate all details.
Enter your correct mobile number, and thereafter the OTP number received on the number you entered.
Candidates now have to verify their identity by providing their valid e-mail id.
Click on the link sent to your mail inbox. Create a login and password.
Once all details are found to be correct, hit the submit button.
Documents Required while submitting the PFMS Scholarship Form
All candidates who wish to avail the scholarship under the PFMS scholarship 2019-2020 scheme need to upload certain documents to validate the details they entered in their respective application form.
All documents uploaded in the portal should match in correspondence with the entered information in the candidates’ application form.
Any information found mismatching with the application form and the documents presented for verification might lead to the candidates’ cancellation of his chance of getting the scholarship amount. Here we present the list of necessary documents:
Recent passport size photograph of the candidate. (Scanned copy. Photo specifications – Photo must be either in jpeg/jpg/png/bmp/tiff/ gif formats. Size of the photo must not exceed 1 MB in size.)
Mark sheets of the candidate. (TO be uploaded in PDF format)
Signature of the candidate. (scanned copy)
Fee receipt. (Scanned copy to be uploaded in PDF format)
Class/category/ reservation certificate of candidate. (Scanned copy to be uploaded in PDF format)