The India government is pushing hard to encourage the people to adopt the Digital Economy and payment infrastructure. The Government recently ordered the UGC ( Union Grant Commission ) who regulates all of the colleges in India and also the Higher Secondary Boards to ask all colleges to collect all forms of payments in digital currency. The HRD ministry has ordered the UGC and Higher Secondary boards of all states to issue an advisory to make all schools and colleges receive the fees and other forms of payments from students in the form of digital currency, barring the cash transactions. The UGC and boards will soon release the advisory to all of the schools and colleges in India.
The Government of India is promoting the Digital Economy concept to all of the Indians and encouraging them to complete the payments via cashless way. As there is increased number of people participating in the cashless transactions, the government is encouraging the people to transact in cashless way more by giving monetary compensation to each transaction. Now, the HRD ministry said “All receipts and payments related to the functioning of the institutions including student fees, exam fees, vendor payments and salary payments shall be made ‘only’ through online or digital modes,” in their directive which was sent to UGC and other boards or educational authorities.
According to the order from HRD Ministry, all of the functions in school and colleges should work in a cashless way. The Office, Cashier, Canteen, Mess, Hostel, and all other transactions should be done in a cashless way. The HRD Ministry asked the colleges and schools to promote the BHIM app to do the cashless transactions. Also, the ministry has advised the UGC to appoint a nodal officer in every area to inspect the cashless transactions work and then submit the report to UGC for keeping an eye on the digital sales in colleges and schools.