SNA-SPARSH, which stands for Single Nodal Agency – System for Pension Administration (RAKSHA), is a framework for the real-time transfer of funds pertaining to Centrally Sponsored Schemes (CSS). This model incorporates a State Nodal Agency (SNA) appointed by the State Government to execute each State Linked Scheme (SLS) associated with a CSS. The system aims to ensure prompt and effective fund transfers between the central and state governments.
SNA-SPARSH – Single Nodal Agency – System for Pension Administration (RAKSHA)
In the Public Financial Management System (PFMS), a Single Nodal Account (SNA) is a specific bank account established for the distribution of funds associated with Centrally Sponsored Schemes. This account acts as a centralized conduit for transferring funds from the central government to the respective implementing agencies or beneficiaries. Its primary purpose is to facilitate a more efficient flow of funds and enhance the overall effectiveness of financial management within these schemes.