PFMS : Know your Bank account Balance by only Account Number

Banking, Tips,

Ministry of Finance has issued a website on the name of PFMS "Public Financial Management Service".

With the help of this service, a user can know if he has received some government benefit in his account or not.

Know Your Account Balance

Direct Benefit Transfer (DBT)

Transferring subsidies directly to the people through their bank/Post office account is Direct Benefit Transfer. It aims to timely transfer of benefit to the citizen by bringing efficiency, effectiveness, transparency and accountability in the Government system. Through the DBT Government intend to achieve electronic transfer of benefits, reduce delays in payments and most importantly, accurate targeting of beneficiaries, thereby curbing leakages and duplication.

Centrally Sponsored Scheme (CSS)

Under Centrally Sponsored Scheme (CSS) a certain percentage of the funding is borne by the States in the ratio such as 50:50, 70:30, 75:25 or 90:10. It is implemented by the State Governments. Centrally Sponsored Schemes are formulated on subjects under the State List to encourage States to prioritise in areas that require more attention.Funds are routed either through consolidated fund of States and or are transferred directly to State/ District Level Autonomous Bodies/Implementing Agencies.

Central Sector (CS) Scheme

Central Sector Schemes are those that 100% funded by the Union government implemented by a central government agency. These schemes are mainly formulated on subjects within the union list.