The University Grants Commission (UGC) has asked the Universities and colleges to switch to digital mode in all financial transactions.
The students may mandatorily be required to make payments in cashless mode for their Course and examination fee.
Likewise, universities and colleges will have to make all financial transactions – including disbursement of salaries, wages and vendor payments – only through digital payment modes.
The institutions can make monetary transactions using digital modes of payment like online immediate payment service (IMPS), Bharat Interface for Money (BHIM), debit cards or Aadhaar-enabled payment system (AEPS) under the National Digital Payments Mission (NDPM) of the Union ministry of human resource development (MHRD).
The move follows instructions to top higher education regulator of the country from MHRD in this regard and is in line with Prime Minister Narendra Modi’s stress on the youth leading the transition from cash to a cashless economy.
{{/usCountry}}The move follows instructions to top higher education regulator of the country from MHRD in this regard and is in line with Prime Minister Narendra Modi’s stress on the youth leading the transition from cash to a cashless economy.
{{/usCountry}}UGC secretary Jaspal S Sandhu, through a missive dated June 6, 2017, has conveyed to the vice-chancellors of universities that digital mode should be used for transactions related to students’ services in hostels as well.
The UGC has, however, made it optional for canteens and business establishments on educational campuses to move to digital mode but has made clear that they should be encouraged to make the switch.
“You are requested to prepare an action plan to identify all transactions being carried out currently in cash and find ways to replace them with digital modes so that implementation can begin from the forthcoming academic year,” the missive said.
The UGC plans to keep track of the on-ground implementation on a monthly basis so that its instructions are not taken casually by the institutions.
The plan, UGC has explained, may consist of points of financial transaction, total number of students/vendors and others on the campus, number of likely transactions per month and total digital transactions to be achieved in 2017-18.
The commission has asked the institutions to appoint a nodal officer so that necessary action on the activities could be initiated in a time-bound manner.