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A record amount of ₹ 71, 633.45 crore was digitally transacted/routed through the Public Financial Management System (PFMS) portal on Wednesday.
According to an official release, the total number of transactions were pegged at 98,19,026. “This is a historic record of number of digital transactions processed in a single day,” the release said.
PFMS is being implemented by the Controller General of Accounts, Ministry of Finance. It provides a platform for management of funds through tracking of funds and real time reporting of expenditure and receipts through treasury and bank interface.
Line ministries/departments utilise this platform to monitor the utilisation of funds provided to the implementing agencies and states governments. PFMS is also used for Direct Benefit Transfer (DBT) payments under MGNREGA and other notified schemes of the Centre.
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