Independent RBI-linked accounts to streamline Central housing scheme fund flow through real-time integration
The Maharashtra government has approved the implementation of the SNA-SPARSH (System of Integrated Quick Transfers) framework for effective execution of the Pradhan Mantri Awas Yojana (Urban) and PMAY (Urban) 2.0 schemes.
This move is aimed at ensuring faster, transparent, and real-time transfer of Central funds for housing projects through direct integration with the Reserve Bank of India (RBI) systems. The decision aligns with the Central Government’s push for a modernized, technology-driven fund management structure.
From SNA to SNA-SPARSH: A Shift Toward Real-Time Efficiency
The new system replaces the existing Single Nodal Agency (SNA) model with the SNA-SPARSH model, following the Government of India’s directive dated July 13, 2023.
Under this framework, Central and State cash management systems are integrated using three major digital platforms:
- Public Financial Management System (PFMS)
- State Integrated Financial Management Information System (IFMIS)
- RBI’s e-Kuber system
The unified setup allows for real-time, traceable, and quicker fund transfers for Centrally Sponsored Schemes (CSS) like PMAY, reducing administrative delays and leakages.
Dedicated RBI Accounts for Maharashtra’s PMAY and PMAY 2.0
As per the Government Resolution (GR) issued by the Housing Department, new independent drawing and disbursing accounts have been opened with the Reserve Bank of India for both PMAY (Urban) and PMAY 2.0.
These accounts will handle funds for various scheme components such as Affordable Housing in Partnership (AHP), Beneficiary-Led Construction (BLC), In-Situ Slum Redevelopment (ISSR), and Capacity Building, Social Audit, and IEC activities.
PMAY (Urban) — Managed by MHADA
- Nodal Agency: Maharashtra Housing & Area Development Authority (MHADA), Mumbai
- Finance Controller: Drawing & Disbursing Officer (DDO) No. 8101710009
- RBI Accounts: Six separate accounts created for PMAY (Urban) components
- Date of account activation: Between February and October 2025
PMAY (Urban) 2.0 — Managed by Housing Department PMU
- Nodal Agency: State-Level Project Management Unit (PMU), Housing Department, Mantralaya, Mumbai
- Under Secretary & Joint Chief Officer: DDO No. 8101710010
- RBI Accounts: Four accounts for PMAY 2.0 sub-components
- Date of account activation: September 12, 2025
The accounts were opened with consent from the Finance Department and the Accountant General of Maharashtra.
Objective: Faster, Accountable, and Transparent Fund Flow
By implementing SNA-SPARSH, Maharashtra joins a select group of states that have migrated to this next-generation financial management architecture. The key goals include:
- Real-time visibility of fund utilization across all project levels
- Elimination of idle funds and duplication
- Faster disbursement to beneficiaries and implementing agencies
- Stronger financial governance and audit trail
Officials stated that this will significantly enhance efficiency in executing housing projects under PMAY (Urban) and PMAY 2.0—particularly important as Maharashtra leads in urban housing demand and beneficiary-linked construction projects.
