PFMS Scholarship

Encouraging students from the lower economic strata to attend schools and be interested in education has perpetually been a challenge for governments and educational departments. And while the merits of a good education are countless, people are yet to be aware of how really beneficial education is, at least in the current scenario.

To spread awareness and incentivize education for students from the lower economic strata, the Government of India launched the PFMS scholarship of the Public Financial Management System scholarship.

The PFMS Scholarship started in 2008 and was implemented as a pilot scheme in four states: Madhya Pradesh, Bihar, Punjab, and Mizoram.

What are the benefits of the PFMS scholarship scheme?

  1. The student who has signed up on the PMFS portal will get money directly into their account through direct scholarship transfer.
  2. The student can immediately apply for the PFMS scholarship 2020 on the PMFS portal as it ideally does not need any documentation or papers submitted. The whole process therefore gets to be quite fast and hassle free.
  3. The PFMS scholarship conducts all processes regarding the scholarship like verification, approval, details of submission, etc through automated procedures. This only means that the student would have to register himself/herself and sit back in a relaxed manner.
  4. The students will also receive any kind of information they need with payments or any other query that vexes them in the long run. This way, they will enrol into the scheme in a much more seamless fashion.
  5. The biggest benefit of the PFMS scheme is that students can easily renew their applications over their pre existing applications quite easily. 

Eligibility for the PFMS scheme

  1. The applicant has to be a citizen of India
  2. PFMS applicant’s family must procure proof of annual family income and it should be equal to or less than Rs 6 Lakhs
  3. The applicant must be between the age group 18 years to 25 years
  4. Maintenance fees and several other miscellaneous charges will be covered up by the scheme and not add up as additional charges on the student.

Documents needed for the PFMS Scholarship

  1. It is very necessary for the applicant to have an Aadhaar card so as to be eligible for the benefits of the scheme
  2. The applicant must have educational certificates
  3. The applicant must at least be 12th pass; to prove it, the applicant must have 12th pass certificate
  4. To apply for PFMS online, the fee receipt should be procured.

How to apply for the scheme?

  1. Visit the official PFMS website: pfms.nic.in
  2. As the homepage loads, click on the PFMS Scholarship student registration which is an option available on the homepage.
  3. Enter the information necessitated by the form that loads up in front of you.
  4. Enter details of the 12th standard and the details of the board.
  5. Enter bank information and the IFSC code.
  6. Choose the category from the drop-down menu.
  7. Enter OTP received on the registered mobile number.
  8. Once the mobile number and email ID are verified, enter your email ID and create a User ID and Password.
  9. Enter the captcha code and proceed.
  10. Submit details.

You will receive an acknowledgement of the success of form filling.

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