PNB LAUNCHES CB – KONNECT WITH PFMS PORTAL

PNB LAUNCHES CB – KONNECT WITH PFMS PORTAL

PNB today formally announced integration of Public Financial Management System (PFMS) Portal of Ministry of Finance with its CBS in a fully automated model called CB-Konnect. On this occasion, Controller General of Accounts, Ministry of Finance, GOI, Shri Jawahar Thakur, released a PFMS Manual for the benefit of field functionaries.

Speaking on the occasion CMD, PNB, Shri KR Kamath informed that bank is committed to the cause of nation and the integration of Core Banking Solution with PFMS Portal is a step in that direction. It would enable a Direct Benefit Transfer (DBT) to the various beneficiaries of different type of subsidies which would now been credited to their respective bank accounts. Both Aadhar and Non Aadhar based banks accounts are covered. It is indeed a beginning of new era of transparency in disbursement of funds to ultimate beneficiaries.

PNB has already commenced disbursement of subsidy/govt. funds with manual intervention to millions of beneficiaries in 11 States since 2011. The model is now fully automated to handle the increasing volume of transactions day by day. Shri Kamath welcomed this initiative taken by office of Controller General of Accounts (CGA) and said that it is a yeomen service to the nation.

Shri Jawahar Thakur, CGA, Ministry of Finance, appreciated the effort of PNB playing a pro-active role in implementation of government initiatives. He further appreciated the effort of PNB in the area of financial inclusion and simultaneously integration with PFMS Portal . He urged upon the bank to continue its proactive role as the portal shall be used on the much larger scale in immediate future.