Quality Education plays an essential role in the personal and social development of a child. The Right to Education is an essential human right and the government of India has encouraged a wide range of initiatives supporting equal educational opportunities for everyone, regardless of gender, caste or age. There are a plethora of scholarship schemes offered by various state governments of India as well as national and international academic institutions to lessen the financial constraints of higher studies on those belonging to unprivileged classes. Public Financial Management System (PFMS) is a central plan scheme monitoring system administered by the Department of Expenditure of the Ministry of Finance. Under this scheme monitoring system, a wide range of PFMS scholarships are offered to students all around India. If you are searching for the best scholarships to fund your dreams for higher studies and study at the best Indian universities, here’s an insightful blog that will walk you through various aspects of PFMS scholarship, eligibility criteria, and the several awards offered under this scholarship.
|PFMS Scholarship 2022
|Public Financial Management System
|Giving financial funds
This Blog Includes:
- Overview of PFMS Scholarship
- PFMS Scholarship Schemes for College and University Students
- Post Matric Scholarship for SC/ST
- PFMS Scholarship – National Scheme of Incentive to Girl Child
- Post Matric Scholarship for OBC Students
- Eligibility Criteria
- Benefits of PFMS
- How to Apply for the Scholarship?
- Required Document for PFMS Scholarship
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Overview of PFMS Scholarship
Public Financial Management System (PFMS) is a project formulated by the government of India. It administers various social initiatives and keeps track of the resources allocated to individuals. In order to provide equal educational opportunities to students coming from each section of society, PFMS offers a plethora of scholarship awards for an array of degree programs. The following scholarships are available in this scheme:-
- National Means cum Merit Scholarship
- National Scheme for Incentive for the girl child for secondary education
- Post Matric Scholarship for SC Students
- Post-Matric Scholarship for OBCs
- Pre-Matric Scholarship for SC Students
- Top Class Education Scheme for SC
- Universities/ College Students
- Up-gradation of Merit of SC Students
Below we have listed various awards that are provided under the PFMS scholarship.
|Scholarship for College and University Students
|Rs 1000 to 2000
|College and University students from families less than Rs 6 lakh per annum
|Post Matric Scholarships SC/ST students
Reimbursement of compulsory non-refundable fees,
Study tour charges,
Thesis typing/printing charges for Research Scholars
Book allowance for students pursuing correspondence courses,
Book Bank facility for specified courses
Additional allowance for students with disabilities for the complete duration of the course.
|10th-standard students from SC/ST backgrounds with a parental income bracket of 2.5 lakhs
|National Means Cum Merit Scheme
|Rs 6000 annually
|The scheme is meant for Class 8th students from the General or SC/ST brackground.
|National Scheme of Incentive to Girl Child
|Rs 3000 annually
|The scheme is meant for SC/ST girl children passing from Class 9th.
|Scholarship for Top Class Education for SC Students
|Tuition fees worth 2 to 3 lakhs; living expenses, books and computer.
|Meant for SC students enrolled at academic institutions across the stream.
|Upgradation of Merit of SC Students
|Package of Rs.25,000 thousand per student per year.
Rs. 15,000 per student per year
Boarding & Lodging charges @ Rs. 900 pm for 10 months.
Pocket Money @ Rs. 300 for 10 months.
Books and Stationery Rs. 3,000
Rs. 10,000 per year per student for honorarium to Principal, Experts and other incidental charges
|This scheme is meant for SC students from 9th to 12th standard.
|Post Matric Scholarships for OBC students
|This scheme is for OBC school and college students who have a parental income of 1 lakh per annum.
PFMS Scholarship Schemes for College and University Students
This scheme is for students who have cleared the 12th standard and are planning to pursue a bachelor’s degree or a master’s degree course from an Indian college or university. Here are the key features of PFMS scholarship schemes for college and university students:
- Qualifying level: Class 12th from a recognised board of education.
- Process of Selection: On the basis of senior secondary examinations, a total number of 41000 girls and 82000 boys are selected from each state.
- Scholarship Amount: A fellowship amount of Rs1,000 at graduation level for the first three years of college courses and 2,000 INR at the postgraduate level. Students pursuing professional courses would be given 2,000 INR per month in 4th and 5th year. The scholarship would be paid for 10 months of an academic year.
- Family Income Criteria: Students applying for PFMS scholarships should have a family income of not more than Rs.6 lakh per annum.
Post Matric Scholarship for SC/ST
This scholarship scheme is for students belonging to SC and ST who want to opt for undergraduate and postgraduate courses in an Indian university or college. Below given are the essential characteristics of Post Matric Scholarship for SC/ST:
- Qualifying level: Class 10th from a recognised board of education.
- Process of Selection: All students from Schedule Caste and Scheduled Tribes are eligible to apply for the Post Matric Scholarship.
- Scheme Administration Department: Ministry of Social Justice and Empowerment through State UTs and the Head of Institution.
- Scholarship Amount: Students are provided with maintenance allowances, study tour charges, stationery charges for research scholars, books allowances for students pursuing correspondence courses, book bank facilities for specific courses, and additional allowances for special students.
- Family Income Criteria: Family income should not be more than Rs 2.5 lakh per annum.
PFMS Scholarship – National Scheme of Incentive to Girl Child
- Qualifying level: passing class 8th from any State or National board of education.
- Process of Selection: any girl child from schedule caste/scheduled tribe.
- Scheme Administration Department: Department of Elementary Education.
- Scholarship Amount: students are provided with Rs3000 per month
Post Matric Scholarship for OBC Students
- Process of Selection: All eligible OBC students pursuing senior secondary certificates for classes 10th and 12th. Professional courses leading to a degree, diploma, certificate, and post-doctoral courses.
- Scheme Administration Department: Ministry of Social Justice and Empowerment through State UTs and Head of Institution.
- Family Income Criteria: family income should not be more than Rs1.5 lakh per annum.
- Scholarship Amount: students will be provided with full tuition fees and other living expenses including 2 lakh per annum.
The Eligibility Criteria for PFMS Scholarships are different for every scheme under the organisation. Most schemes under PFMS are need-based and directed towards reserved categories such as SC/ST/OBC. Here are the eligibility criteria for all the schemes updated by the organisation-
- Scholarship for College and University Students is meant for College and University students from families less than Rs 6 lakh per annum.
- Post Matric Scholarships SC/ST students are directed at 10th standard students from SC/ST backgrounds with a parental income bracket of 2.5 lakhs.
- National Means Cum Merit Scheme is for Class 8th students from General, SC, or ST backgrounds.
- The National Scheme of Incentives to Girl Child is meant for SC/ST girls who have completed the 9th class.
- Scholarship for Top Class Education for SC Students is for SC students.
- Upgradation of Merit of SC Students is meant for SC/ST students from 9th to 12th class.
- Post Matric Scholarships for OBC students are available for OBC students from families whose annual income is 1 lakh.
Benefits of PFMS
- Payment of funds to lower level agencies, who then use it for disbursement of benefits to the intended beneficiaries.
- Funds are released to states/UTs from RBI only when there is clear visibility of actual utilisation and balance in the accounts of state government treasuries/treasury sub-division or treasury circle.
- In case of centrally sponsored schemes, RBI releases funds to the central government under Cash Management System (CMS) account. The central government makes payments directly from the CMS account to the State Government treasury or treasury circle account.
- The entire process is made fully electronic through NEFT/RTGS with no human interface in CBS (Core Banking System).
How to Apply for the Scholarship?
To apply for the multiple scholarship programs provided by the Public Financial Management System (PFMS), the applicants have to register themselves at the online portal of PFMS. Browse through the different scholarship awards and fill out the application form for the one that suits your course requirements. Further, candidates applying for the PFMS scholarship are required to upload the essential documents to verify their eligibility. Here is the list of documents required for the registration:
- Scanned copies of passport size photographs (photo requirements are mentioned on the website)
- Scanned mark sheets in PDF format.
- Candidates are required to submit a scanned document containing their signature.
- Candidates are required to provide their Aadhar details in order to complete the procedure.
Required Document for PFMS Scholarship
The following documents are required in this scholarship:-
- Aadhaar card
- Educational Certificate
- Passport size photographs
- Fee Receipt
- Bank detail
- Income certificate
- Caste Certificate.
Candidates can check the status of their PFMS scholarship on the online portal. After the candidate has been accepted for the applied scholarship, she/he will receive the scholarship amount directly in their bank accounts.
PFMS provides valuable information related to scholarships for students in need of financial aid to pursue higher education. Here are some PFMS scholarships-Post matric scholarship for OBC students, Post matric scholarship for SC/ST students, National Means Cum Merit Scholarship, National Scheme of Incentive of Girl Child etc
PFMS stands for Public Financial Management System (PFMS) is a central plan scheme monitoring system administered by the Department of Expenditure of the Ministry of Finance.
The eligibility criteria for every PFMS scholarship is different. The scholarships are meant for students who need financial aid for higher education.
Candidates can apply for the different scholarships via PFMS online portal and fill out the application form to register.
We hope that this article on PFMS Scholarship helped you understand the details and the requirements of this scholarship. Other than this, there are plenty of other scholarships offered across the globe that support students pursuing higher education unburdening their heavy financial constraints. Let our Leverage Edu experts guide you in choosing the right scholarship that can finance your chosen course and help you successfully get into your dream university.