We all are very familiar with the fact that most of the students residing in this country are unable to pay the fees for their schooling and education. Due to these reasons, most of the people are looking for an opportunity ever to visit the school and get the freedom to get educated. But the government of our country always strives to offer different kinds of scholarships to such underprivileged students under the PFMS. 

So, if you’re looking for such opportunities in your life and get a proper education in your life, then you have come to the right place. You should go through the below-mentioned details and share such important information with your friends and family members to get an educated life. So, let’s dive into the PFMS Scholarship, how can we apply for this PFMS scholarship, what are the eligibility criteria of this PFMS scholarship, and many more things. Let’s get started:

What is a PFMS Scholarship?

India’s government had started this scheme of scholarship and launched it by the government body, Public Financial Management System, PFMS. This PFMS scholarship scheme is both for the students of schools and colleges. This scholarship’s leading emphases are on the people who are under the poverty line, which includes the scheduled tribes and all the other backward classes.

Individuals striving to apply for the scholarship should be familiar with the website upheld by the government pfms.nic.in on which a person needs to apply for this scholarship. There are no alternative means through which one can apply for this scholarship. Now everyone must be concerning that who is eligible for this PFMS scholarship and who is not. So, here is a list of all the facts that are detailed under the eligibility criterion of the scholarship.

Eligibility Criteria of the PFMS Scholarship

  1. The first criterion is that the students who are willing to apply for the scholarship must be Indian citizens. In case if the students are citizens of other foreign countries who want to get any scholarship in India are not eligible for the pfms scholarship.
  2. There is a minimum salary bar of the family that is required to be fulfilled, and that is INR 6 lakh annually. If the family income of the applicant is more than this amount, then they will be disqualified from the list of PFMS.
  3. The age of the person should be more than 18 and less than 25 years. The reason behind this age is that before the time of college there is a whole list of government schools that are open for education and usually students need money to pay for college.
  4. If the applicant has not yet passed their class 10th board exam, then they are very unfortunate as they can’t apply for this scholarship.

If you think that you have followed all the criteria mentioned above, then you should start the procedure of filling the application form through the PFMS portal. 

Which Sholarships are offered by PFMS Scholarship?

There is a list of complete PFMS scholarships available on the portal. There is a scholarship planned for every level of an individual. The updated list of scholarship that has been offered is mentioned below.

  • The first scholarship is the PFMS Scholarship for the students of colleges and universities. Those who are about to enter their college and have insufficient funds can apply for this scholarship.
  • The next scholarship is the PFMS Post Metric scholarship that is offered to the scheduled caste students.
  • There is a pre-metric scholarship for the SC students like the post metric one.
  • The next scholarship is based on the merit in which the numbers and the status of the child are seen, and then the amount of scholarship is decided. It is known as PFMS Student Scholarship for Merit.
  • Those girls who are unable to get senior secondary education can also apply for a special PFMS Scholarship National Scheme For Incentives.
  • After that, there is a post metric scholarship for the other backward class student of the country having a low income.
  • Those who are looking for a top-class education in the SC category can also apply for the scholarship available for them.

If anyone falls in the above category of scholarships, they can visit the pfms portal anytime and start their application form.

How Can You Apply for PFMS Scholarship?

All the students who are thinking of getting a scholarship should surely go through the below-mentioned steps. These are the part of the most crucial registration on which their receiving of the scholarship money depends. They are as follows.

  • First of all, as the person enters the pfms official website, they will see the student registration option on the homepage. One should click on that to commence their procedure of registration.
  • After that, the scheme’s selection is required to be done out of the one scheme mentioned above.
  • After that, the student’s details are asked in which they have to give their passing year of class12th and the board from which they have cleared it.
  • After that, the student’s banking details are asked as the money is always transferred by the partner bank in the child’s account.
  • As you fill the IFSC code and your account number, they will show your bank name and branch name, and after that, there is a fill-up form required to be filled.
  • In this, the mobile number and the email address are required to be entered, which is active.
  • After that, the applicant has to create the ID and the password and fill in the captcha to proceed.
  • The last step is the uploading of the list of the required documents of which is attached below.

After this, a student is successfully registered with the website for the scholarship, and all they need to do is track their pfms scholarship processing.

List of Documents Required in PFMS Scholarship

One should always remember that when they are filling their registration form for the first time, then they should have a peek at the documents and keep them with themselves as the website demands every new sign-up applicant to upload these documents. It would be best if one store all of these documents into a soft copy in the device they are using for registration. The list of documents is:-

  • The very first is the national identity of the person for which the radar card is preferred.
  • After that, the educational certificates should be there as the board mark sheets of the secondary and senior secondary, and if the person is applying for post-graduate, then the mark sheet of graduation is also required.
  • A clear and latest passport-size photograph.
  • The fee receipt of the course that they are applying into. One can ask their college or university to issue a demand letter which is used for scholarships. It is preferred by PFMS Scholarship. It is stated by the government of India that they are eliminating all the middlemen in this process, and they are going to get the money in their bank accounts directly, i.e., Direct Benefit Transfer (DBT).

PFMS Bank List

  • Abu Dhabi Commercial Bank
  • Allahabad Bank
  • Allahabad Gramin UP Bank
  • Andhra bank
  • Andhra Pragathi Grameena bank
  • Axis bank
  • Bank of Bahrain and Kuwait
  • Bank of Baroda
  • Bank of India
  • Bank of Maharashtra
  • Bassein catholic co-op.bank ltd.
  • Bombay mercantile co-op.bank ltd.
  • Canara bank
  • Catholic Syrian bank ltd.
  • Central bank of India
  • Citibank
  • City union bank ltd
  • Corporation bank
  • Dcb bank limited
  • Dena bank
  • Deutsche bank
  • Dhanlaxmi bank ltd
  • HDFC bank
  • HSBC
  • ICICI bank
  • IDBI bank
  • Indian bank
  • Indian overseas bank
  • Indusind bank limited
  • Jharkhand Gramin bank
  • Karnataka bank
  • Karur vysya bank
  • Kotak Mahindra bank
  • Madhya Bihar Gramin bank
  • Manipur state co-op.bank ltd.
  • New India co-operative bank ltd
  • NKGSB co-op bank ltd
  • Oriental bank of commerce
  • Punjab and Sind bank
  • Punjab National bank
  • RBL bank
  • South Indian bank
  • Standard chartered bank
  • State bank of India
  • Svc co-operative bank ltd.
  • Syndicate bank
  • Tamil Nadu mercantile bank ltd
  • The cosmos co-operative bank ltd.
  • The federal bank ltd
  • The Jammu and Kashmir bank ltd
  • The kalupur commercial co. op. bank ltd.
  • The Lakshmi Vilas bank ltd
  • The Saraswat co-operative bank ltd
  • The Thane Janata Sahakari bank ltd
  • UCO bank
  • Union Bank of India
  • United bank of India
  • Vijaya bank
  • Yes bank ltd

What are the benefits of the PFMS Scholarship?

Some of the benefits that are directly stated by the government which they are going to offer through the PFMS portal are:-

  • The PFMS is working as a focal body for providing all the government scholarships. Now an individual doesn’t have to visit different portals for the application of their scholarship. They can find the one suitable for them on this platform only.
  • The PFMS is in direct touch with 90 banks, which makes the process of money transfer to the students easy. Out of that, there are 26PSB, 59 RSB, and around five large private banks. One can look at the PFMS banks list on the official website of the scholarship.
  • The organization always collects the e-installment receipts of their approved financial balances.

How to Renew the Scholarship Application?

All those applicants who have their scholarships with the pfms have to renew their scholarships after a fixed period. For that, they have to follow the below steps.

  • First of all, visit the nic.in and log in to with their user ID and password.
  • After that, there is an option for renewal on the homepage. After clicking it, the applicant is taken to a new page.
  • After that, there is an information update required, and all the necessary documents are uploaded.
  • After that, the details re-entered should be submitted, and the printout should be kept for future reference.

The Final Wordings 

The above mentioned are some of the crucial information regarding the pfms scholarship. If we think that we are eligible for the scholarship and need them should visit the portal and apply as soon as possible. Everyone should notice that after filling the application, it may take few days till it gets completely processed and some actions are taken on it. That is why it is asked to every applicant that they should keep checking their application status regularly on the website.

Also, in case of any emergency, there are contact numbers of many executives and officers provided for the applicants that will help them in concluding their queries and help them in their online journey of getting the pfms scholarship. 

By Pradeep Kumar

Hi, I am a finance blogger especially writing in the BFSI industry for the last 4+ years. I love to write on different public interest-related topics. Feel free to reach out to me at [email protected] for any query or to publish your opinions.

Leave a Reply

Your email address will not be published. Required fields are marked *