Adding a Beneficiary in CFMS

The Central Fund Management System (CFMS) is a digital platform used by the Indian government to manage financial transactions. Adding a beneficiary to your CFMS account allows you to effortlessly transfer funds to others. This can be useful for various purposes, like salary payments, pensions, or vendor payments.

Creating a beneficiary in CFMS may seem overwhelming, but it’s actually quite straightforward. Here’s a step-by-step guide to help you:

Before You Start:

  • Gather the beneficiary’s information, including their name, bank account number, IFSC code, and Aadhaar number (if available).
  • Access the CFMS portal for your state. Remember, each state has its own portal, so make sure you’re using the right one.

Step 1: Login and Navigate

  • Log in to the portal using your credentials.
  • Look for “Beneficiary Management” or “Add Beneficiary.” The name may vary depending on your state’s portal layout.

Step 2: Enter Beneficiary Details

  • Complete the form with the beneficiary’s information.
  • Fill in all the necessary fields correctly, such as:
    • Beneficiary Name
    • Bank Account Number
    • IFSC Code
    • Account Type (Savings/Current)
    • Mobile Number (optional but recommended)
    • Aadhaar Number (optional but recommended for faster verification)
  • Review all the details before proceeding.

Step 3: Verify and Submit

  • Most portals require a verification step to confirm the beneficiary’s bank account details. This might involve entering a one-time PIN (OTP) received on the linked mobile number.
  • Once verified, submit the form.

Step 4: Approval and Activation

  • Your beneficiary creation request will be sent for approval. This might require your department head or an authorized official.
  • The approval process may take a few hours or days, depending on your state’s workflow.
  • You’ll receive a notification when your beneficiary is approved and activated.

Step 5: Add Beneficiary for Transactions

  • After activation, you can add your new beneficiary when creating bills or fund transfers within the CFMS portal.
  • Choose the beneficiary from the list, enter the amount, and submit the transaction.

Congratulations! You’ve successfully added a beneficiary to your CFMS account.

  • While Aadhaar and mobile number are optional, providing them can speed up the verification process and reduce errors.
  • You can add multiple beneficiaries to your account for different purposes.
  • If you encounter any issues or have questions, consult the CFMS user manual or contact your state’s CFMS helpline for assistance.

Adding a beneficiary in CFMS is a convenient and efficient way to manage your finances. By following these steps, you can easily add beneficiaries and start making secure transactions.

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