PFMS Bank List 2025: List of Banks Integrated with PFMS. Numerous government initiatives are currently in operation to promote public welfare. The government transfers funds to the bank accounts of eligible members of the public in the majority of the schemes. Government officials and state ministers transferred all the money a few years ago. However, the funds were unable to reach the impoverished due to the corrupt individuals.
The government transfers funds directly to the bank accounts of the public following the digitalization of India.which necessitated the development of a comprehensive system, specifically the PFMS.
What is PFMS?
PFMS is an online software program that is accessible via the internet. The abbreviation for the Public Financial Management System is PFMS.The inception of this initiative came in 2009. PFMS serves as a foundation for the Indian government’s Digital India initiative. PFMS enables any Indian citizen to verify the status of their scholarship, housing scheme funds, and other government schemes from the comfort of their home using their mobile phone.
PFMS Bank List 2025: List of Banks Integrated with PFMS
| S. No. | Bank Name |
|---|---|
| 1. | Abu Dhabi Commercial Bank |
| 2. | Allahabad Bank |
| 3. | Allahabad UP Gramin Bank |
| 4. | Andhra Bank |
| 5. | Andhra Pragathi Grameena Vikas Bank |
| 6. | Axis 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 |
| 13. | Canara Bank |
| 14. | Central Bank of India |
| 15. | Citi Bank |
| 16. | City Union Bank Ltd |
| 17. | Corporation Bank |
| 18. | CSB Bank Limited |
| 19. | DCB Bank Limited |
| 20. | Dena Bank |
| 21. | Deutsche Bank |
| 22. | Dhanlaxmi Bank Ltd |
| 23. | Haryana Gramin Bank |
| 24. | HDFC Bank Ltd |
| 25. | HSBC |
| 26. | ICICI Bank Ltd |
| 27. | IDBI Bank Ltd |
| 28. | Indian Bank |
| 29. | Indian Overseas Bank |
| 30. | Indusland Bank |
| 31. | Jharkhand Gramin Bank |
| 32. | Karnataka 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-operative Bank Ltd. |
| 39. | NKGSB Co-op Bank Ltd. |
| 40. | Oriental Bank of Commerce |
| 41. | Punjab and Sind Bank |
| 42. | Punjab National Bank |
| 43. | RBL Bank |
| 44. | Sarva U.P. Gramin Bank |
| 45. | South Indian Bank |
| 46. | Shri Mahila Seva Sahakari Bank Ltd, Ahmedabad |
| 47. | Standard Chartered Bank |
| 48. | State Bank of India |
| 49. | SVC Co-operative Bank Ltd. |
| 50. | Syndicate Bank |
| 51. | Tamilnad Mercantile Bank Ltd. |
| 52. | The Cosmos Co-operative Bank Ltd. |
| 53. | The Federal Bank Ltd. |
| 54. | The Jammu and Kashmir Bank Ltd. |
| 55. | The Kalupur Commercial Co-operative Bank Ltd. |
| 56. | The Laxmi Vilas Bank Ltd. |
| 57. | The Saraswat Bank Co-operative Ltd. |
| 58. | The Thane Janata Sahakari Bank Ltd. |
| 59. | UCO Bank |
| 60. | Union Bank of India |
| 61. | United Bank of India |
| 62. | Vijaya Bank |
| 63. | Yes Bank Ltd. |
PFMS Objective
The primary objectives of the PFMS are as follows:
- To monitor the distribution of funds under all Government of India Plan schemes
- To offer a real-time account of expenditures at all stages of program execution
- Subsequently, the purview was broadened to encompass direct payments to recipients under all Schemes.
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At present, the Core Banking System, which encompasses over 300 banks, interconnects with PFMS.
- Banks in the public sector
- Banks in the private sector
- The Reserve Bank of India (RBI) Regional Rural Banks Cooperative Banks
- Indian Post, among others.
Benefits of PFMS
PFMS is an extremely advantageous software for all individuals, from stakeholders to students. The following are several significant advantages of PFMS:
- Additionally, the Public Financial Management System offers an accounting network and a fund flow system for monitoring.
- PFMS is compatible with all operating systems. It is a web software that is exceedingly straightforward to operate.
- PFMS enables the direct transmission of funds to the bank account.
- The purpose of this software is to monitor the progression of government initiatives and money. Keeping note of the scholarship process is highly advantageous for students.
- It has established the same portal to provide information on sanctions that are specific to a scheme, agency, state, or ministry.
- PFMS may alert all entities, including NGOs, that are withdrawing grants from more than one initiative or department.
- All of the Financial Management Systems of States are incorporated with PFMS.
- For stakeholders, PFMS offers a management information system that is both effective and dependable, as well as real-time.
