The Public Financial Management System (PFMS) is an initiative program originated by the Government of India to regulate programs that are categorized into the Social Sector. It maintains the clarity of aid funds channeled to targeted people. The main goal of the implementation of this program is to ensure that the funds spent have been channeled for the intended purpose. Banks that are under the auspices of the PFMS provide a variety of scholarship programs for candidates who meet all the requirements. In 2020, PFMS reopens other opportunities for students to register as candidates for the PFMS Scholarships 2020. The schemes listed in the 2020 PFMS Scholarships can be thoroughly studied in the following brief explanations.
1. Scholarship for College and University Students
Candidates between the ages of 18 and 25 can register for the scholarship recipient’s submission. More specifically, participants with a combined income of parents who are less than Rs. 6 Lakhs per year will be considered for receiving scholarship funds of Rs. 1000,- at the Graduation level for the first three years of College and University, and Rs. 2000,- per month for those at the Post-Graduation level. During one academic year, the scholarship will be paid for a period of 10 months. Visit the official website of this scholarship scheme at http://mhrd.gov.in/scholarships.
2. Post Matric Scholarships for Scheduled Castes / Scheduled Tribes Students (PMS-SC)
For grade X students with total parents’ income it reaches only Rs. 2.5 Lakhs per year, they are given the opportunity to register for PMS-SC. The scholarship will meet the academic needs of candidates who wish to continue their education to the levels of Diploma, Bachelor’s degree, Post-doctoral Programs, etc. Some sectors of daily life that are funded by this scholarship include expenses for maintenance, study tour costs or book allowances for students who take correspondence courses. Participants with disabilities will also receive extra allowance throughout the duration of the courses that are followed throughout the scholarship acceptance program. Full explanation can be found at http://socialjustice.nic.in/schemespro.php.
3. Pre Matric Scholarship for Scheduled Caste Students (PMSS)
PMSS provides middle school students from Government Schools for Rs. 150,- per month for day scholar and Rs. 350,- for students who opt for hostel facilities. If the amount is accumulated, they can take home the scholarship fund up to Rs. 750,- (for day scholar) and Rs. 1000,- (for hostellers) every year. Should you eeager in taking a PMSS scholarship, visit their official website at http://socialjustice.nic.in/pdf/pmsscnew.pdf. Unfortunately, PMSS is only available for one year from each class at the verified educational level.
4. National Means Cum Merit Scheme (NMMS)
If you are currently in grade VII and are moved to continue to the higher stage of education but are hindered by limited funds, NMMS can help make your dreams come true. By joining the program offered, you have the right to be considered by the Department of Elementary Education to receive educational assistance funds up to Rs. 6000,- each year which will be paid quarterly on the go. To become a legal recipient of NMMS, you are required to agree to be registered with only one scholarship and not take either part time or full time work during your studies. The selection process that you have to go through will include a Mental Ability Test (MAT) and a Scholastic Aptitude Test (SAT) on a state level exam.
5. National Scheme of Incentive to Girl Child (NSIGC)
For girl children who have passed class VIII, PFMS offers educational assistance in the form of Rs. 3000,- fund under the National Scheme of Incentive to Girl Child (NSIGC) name. Although the funds are given only once in the valid period, the NSIGC lasts for 2 years. The total amount will be paid after the verified participant gets 18 years of age and 2 years continuation after passing the X grade exam or those who are in their secondary school phase. For this scheme, discontinuation of the scholarship may be charged at any time to the recipient if there are a number of conditions stated in the agreement that are not properly fulfilled.
6. Scholarship of Top Class Education for SC Students
This scholarship covers the tuition fees required by students who take the following courses:
- Medicine / Dentistry
- Specialization Streams
- and others.
It is open to students from 207 educational institutions in all parts of the country who bear the excellence title although unfortunately possess a parent income of around Rs. 4.50 Lakhs only per year. Some expenses that will be financed using the scholarship are living expenses, books and stationery, and an up-to-date computer as a one-time assistance but all three are subject to actual.
7. Upgradation of Merit of SC Students
Although there are various stages that are required to be completed by the candidates in the selection process, Upgradation of Merit of SC Students offers scholarship packages up to Rs. 25,000 for each student per year, in which this package contains the budgeted costs to cover various academic related student needs as follows.
- Boarding and lodging costs
- Allowance for 10 months
- Books and stationery
- Incidental fees for emergency cases
The scholarship, which took place over a 4-year period, is held in the administration scheme of the Ministry of Social Justice & Empowerment Through States / UT and the Head of Institution.
8. Post Matric Scholarship for students belonging to OBCs (PMS-OBC)
Although the official information regarding PMS-OBC is categorized as rare to be extracted, the Ministry of Social Justice & Empowerment Through States / UT and Head of Institution explained that the selection process will be entitled to be followed by OBC Students in class XI and XII also for those who take Professionals Courses leading to Degrees, Diplomas, Bachelors Degrees, and many others. Detailed information can be accessed comprehensively through its official website at http://socialjustice.nic.in/schemespro.php.
Eligibility criteria from one scholarship scheme to another may vary under the PFMS Scholarships 2020 list, but there are some that should be considered before applying to become a candidate as given below:
- Participants must be the citizens of India,
- Participants must be between the ages of 18 and 25 years.
The documents listed below are requirements that must be completed to apply for any scholarship under the scheme of PFMS Scholarships 2020:
- Education certificate
- Aadhar Card for the purpose of identifying data from participants submitting scholarships
- Fee receipt
- Passport size photographs
For further information regarding the scholarships offered, kindly visit https://pfms.nic.in/scholarship/schemelist.aspx.