PFMS Performance Review Meeting: Emphasis on timely data exchange by States with PFMS

IAS Prelims 2023

azadi ka amrit mahotsav

Mumbai, 18 July 2022


Public Financial Management System (PFMS) Division, Ministry of Finance held a Bank Performance Review Meeting and a meeting with State Governments as part of Azadi Ka Amrit Mahotsav at Taj Santa Cruz, Chhatrapati Shivaji Maharaj International Airport, T1 in Mumbai today. Additional CGA, PFMS Division, Office of Controller General of Accounts, Department of Expenditure, Dharitri Panda chaired the meeting.

A detailed discussion with the State Governments was held on issues related to new procedure of release of funds under the Centrally Sponsored Schemes and Treasury Integration with PFMS.  Emphasis was made on timely and correct data exchange by the States with PFMS to ensure accurate and reliable financial reporting and to ensure that there was no float in system. 

The Bank Review Meeting stressed on major Key Performance Indictors (KPIs) and Single Nodal Accounts (SNA) issues so as to make the banking systems more adaptive for new changes.  Jt.CGA, PFMS Division, New Delhi, Amitabh Tripathi, technical team of NIC-PFMS and State Finance Officials of Gujarat, Madhya Pradesh, Maharashtra and Rajasthan also attended the meeting. 13 major Banks i.e. Bank of Maharashtra, State Bank of India, Bank of Baroda, HDFC bank, ICICI Bank, RBL bank, Kotak Mahindra Bank, Axis Bank, Central Bank of India, Bank of India, Punjab & Sind Bank, Yes Bank and IndusInd Bank, participated in the banking review.

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PIB Mumbai | DL/DR


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