Definition
PFMS is the Government of India's online system, run by the Controller General of Accounts, for tracking and making government payments. Many central government buyers on GeM pay sellers through PFMS, which is why your bank details on GeM must be correct and validated. State government buyers may use their own treasury systems instead.
In simple words
PFMS sarkar ka payment system hai — paisa isi raaste aapke bank account mein aata hai.
Related terms
Guides on this topic
This is a general explanation. Confirm exact limits, percentages and timelines in the bid document and on gem.gov.in.
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