Content deleted Content added
Line 32:
==Modus Operandi==
The system uses a web-enabled application<ref>[https://www.pfms.in.net/2019/07/pfms-login.html PFMS Login]{{|date=November 2018 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> developed in the office of Controller General of Accounts,<ref>[http://www.cga.nic.in Website of Controller General of Accounts]</ref> the apex accounting authority of the Government of India under [[Ministry of Finance (India)]]. In the first step, every agency receiving funds is registered on the system, including registration of all the bank accounts of the agency; this information is shared with the respective banks’ [[Core Banking System]] (CBS) for authentication.
Post registration, CPSMS will enable one to one validation or payment authorization of each release of funds, whether expenditure, advance, or transfer. The corresponding instrument number and amount for any release would need to be entered in the system at the time of approval, before the actual transaction. Through the CPSMS-CBS interface, this information would be shared with the banks’ CBS and an instrument of payment will be honored by banks only when the corresponding entry is received through the CPSMS.
| |||