Ministry of Finance reviews PFMS implementation in six states, 10 major banks in Odisha’s Puri

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Bhubaneswar: The Ministry of Finance, Government of India, today held a review meeting with six states and also a bank performance review meeting in respect to Public Financial Management System (PFMS) in Puri, Odisha under the chairpersonship of Smt. Dharitri Panda, Additional Controller General of Accounts.

During the review meeting, a detailed discussion was held with the State Governments on issues related to new procedure of release of funds under the Centrally Sponsored Schemes and Treasury Integration with PFMS. The officials from six states such as Odisha, West Bengal, Chhattisgarh, Jharkhand, Bihar and Goa have participated in the meeting.

In the deliberations, emphasis was made on timely and correct data exchange by the States with PFMS to ensure accurate and reliable financial reporting and also to ensure that there was no float in the system. The Bank Review Meeting in the meantime stressed on the issues of major Key Performance Indicators (KPIs) and Single Nodal Accounts (SNA).

The objective of the Bank Review Meeting was to make the banking systems more adaptive for the new changes. The meeting was also attended by Mrs. Jaspal Kaur Pradyot, Jt.CGA, PFMS HQ, New Delhi, Shri. Eddie L. Khawlhiring, Jt.CGA, Technology, Banking & Reports Vertical of PFMS HQ. New Delhi and the technical team of NIC-PFMS and State finance officials of the six states.

Ten major Banks such as Union Bank Of India, State Bank of India, Punjab National Bank, ICICI Bank, Axis Bank, HDFC Bank, UCO Bank, Indian Bank, Canara Bank, IDBI Bank have also participated in the Bank Review Meeting in the day. Shri Sovan Sengupta, Deputy General Manager, headed the Union Bank of India Team.

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