- The Departments of Central Government
- Central Government PSU
- State Government PSU
- Statutory Bodies
- Local Bodies
- Registered Societies
- State Government institutions
- Individuals eligible for receiving grant in aids from GoI for running various Government schemes can open their accounts in our Bank for using PFMS channel for their payments to vendors/beneficiaries.
- Real time information on resource availability & utilization across schemes
- Improved program and financial management
- Reduction in float in the system
- Direct payment to beneficiaries
- Greater transparency and accountability
- Promotes good governance
- Provides effective decision support system, tracking of funds
- Integration with application of Government Departments/ ministries for online collection of receipts
1. Digital Signature Certificate base (DSC)
- DCS payment file is further processed through NPCI’s NACH Channel
- Digitally signed payment request file is place by PFMS at Bank’s SFTP and bundled with debit authority digital signature
2. Print Payment Advice(PPA) / Electronic Payment Advice (ePA)
- Agency submits the PPA hard copy at branch after submitting the request in PFMS Portal
- This file is further processed through NPCI’s NACH Channel
- Print Payment Advice request file is placed by PFMS at Bank’s SFTP without any digital signature
- ePA - Agency can also make/process payments using our Internet Banking channel.
3. Pay & Account Office Payments (PAO)
- Agency make/process payments through PFMS payment system using their Principal Account payment order (PAO Request file) without any manual process at bank’s end.
- Successful integration with PFMS system : Ability to route various payments of more than two lakh Government agencies’ accounts registered under PFMS PAN India.
- Flexibility : The State agencies can open their accounts in any of the branch of our Bank to process their payments using REAT (Receipts, Expenditure, Advance and Transfer) module of PFMS.
- On time implementation : Being a Sponsor as well as a Destination Bank, the bank can open agency accounts, process payments through PFMS and provide credit to beneficiaries’ accounts in defined timelines by the Ministry maintaining NIL pendency under all Key Performance Indicators (KPIs). Our Bank provides quick validation of accounts once registered under PFMS i.e. of State agencies as well as beneficiaries’ and vendors along with their bank accounts, of all agencies receiving plan funds at all tiers of operation.
- Robust IT Infrastructure : PFMS System is one of the most robust and well connected network which supports all types of PFMS payment methods including DSC (Digital Signature Certificate) & PPA (Print Payment Advice) and also new feature of Electronic PPA (ePA) for the agencies. Our system supports all the major scheme types i.e. REAT, NREGA, PMKISAN, PAHAL, etc. Our PFMS system is also successfully handling large volume of payments of various Gram Panchayats/ Panchayati Raj Institutions (PRIs) PAN India through integration of eGramSwaraj software with PFMS (eGSPI) and various payments of Finance Commission under PRIASoft (Panchayati Raj Institutions Accounting Software) –PFMS interface (PPI).
- Payment Channels : Available Payment channels supported are NPCI’s NACH, NPCI’s AePS and RBI’s NEFT.
- Experience : Our Bank caters to more than 500 DBT and non DBT Centrally and State Sponsored Schemes.
- Customized Web Dashboard/MIS Portal : Our Bank provides a user friendly customized Web Dashboard/MIS portal to the Govt. agencies for checking the status of their transactions in real time.
SINGLE NODAL AGENCY
- Every State Government will designate a Single Nodal Agency (SNA) for implementing each CSS(Centrally Sponsored Scheme). The SNA will open a Single Nodal Account for each CSS at the State level in a Scheduled Commercial Bank authorized to conduct government business by the State Government.
- In case of Umbrella schemes which have multiple sub-schemes, if needed, the State Governments may designate separate SNAs for sub-schemes of the Umbrella Scheme with separate Single Nodal Accounts.
- Implementing Agencies (lAs) down the ladder should use the SNA's account with clearly defined drawing limits set for that account. However, depending on operational requirements, zero-balance subsidiary accounts for each scheme may also be opened for the IAs either in the same branch of the selected bank or in different branches.
- All zero balance subsidiary accounts will have allocated drawing limits to be decided by the SNA concerned from time to time and will draw on real time basis from the Single Nodal Account of the scheme as and when payments are to be made to beneficiaries, vendors etc. The available drawing limit will get reduced by the extent of utilization.
- SNAs and IAs will use the EAT module of PFMS or integrate their systems with the PFMS to ensure that information on PFMS is updated by each IA at least once every day.
- SNAs will keep all the funds received in the Single Nodal Account only and shall not divert the same to Fixed Deposits/Flexi-Account/Multi-Option Deposit Account/Corporate Liquid Term Deposit (CLTD) Account etc.
CENTRAL NODAL AGENCY
- Every Ministry/ Department will designate a Central Nodal Agency (CNA) for implementing each Central Sector Scheme. The CNA will open a Central Nodal Account for each Central Sector Scheme in a scheduled commercial bank authorized to conduct Government business by the Ministry/ Department concerned.
- Implementing Agencies (IAs) down the ladder will be designated as Sub Agencies (SAs). The SAs will use the CNA’s accounts with clearly defined drawing limits set for that account. However, depending upon operational requirements, zero balance subsidiary accounts for each scheme may also be opened by the SAs.
- All zero balance subsidiary accounts will have allocated drawing limits to be decided by the CNA concerned from time to time and will draw on real time basis from the Central Nodal Account of the scheme as and when payments are to be made to beneficiaries, vendors etc. The available drawing limit will get reduced by the extent of utilization.
- For seamless management of funds, the main account and all zero balance subsidiary accounts should be maintained with the same bank.
- CNAs and SAs will use the EAT module of PFMS or integrate their systems with the PFMS to ensure that information on PFMS is updated by each SA at least once every day.
- CNAs will keep all the funds received in the Central Nodal Account only and shall not transfer the funds to any other account or not divert the same to Fixed Deposits/ Flexi-Account/ Multi-Option Deposit Account/ Corporate Liquid Term Deposit (CLTD) account etc. The funds released to CNA shall not be parked in bank account of any other agency.
- Bank of India is authorized to conduct Government business for all Ministries/ Departments providing a robust IT system and adequate branch network of more than 5000+ branches.
- The Bank has the facility to open the required number of subsidiary zero balance accounts and a robust MIS for handling accounting and reconciliation at each level. Bank of India also provides necessary reports and a user-friendly dashboard at various levels to monitor utilization of funds by IAs.
- Our bank provides proper training and capacity building of branch managers and other staff for smooth operation of these accounts.
Will be updated soon
PFMS established a common platform for complete tracking of fund flows from the Central Government to large number of programme implementing agencies, both under Central Government and the State Governments till it reaches the final intended beneficiaries by its interface with all the Banks and State Treasuries. PFMS thereby enables real time monitoring of disbursements and utilization of funds which in turn provides a sound Decision Support System across Ministries and Departments of Government of India.