Among the affiliated colleges of Delhi University, Shri Ram College of Commerce or SRCC will go cashless from January 11, 2017. It is the first college among DU's affiliated colleges to adopt cashless transactions. The college will accept digital payments as regards fee submission, payments at the canteen etc. Vittshala, a financial literacy cell has been inaugurated by Union Finance Minister Arun Jaitley on January 10, 2017. The college had organised a 'digi-mela' on January 9 & 10, 2017 to make the process of adopting cashless transactions possible.
Prof. Anil Kumar, Convenor of Vittshala revealed that both students and teachers would go completely cashless from January 11, 2017. They will also be educated on making Aadhar-based payments. He further added that SRCC is the first institute to go cashless in the capital region of Delhi.
For this purpose, photocopy shop, canteen, cooperative stores on the college campus have been prepared to function cashless. Additionally, the students and the members of Vittshala are explaining other students on various ways to go cashless. The vendors of stores have been trained on the same, and they are set to go cashless.
SRCC has adopted five ways of online payments:
- USSD Banking
- Aadhar-Enabled Payment System
- BHIM (a unified app by the Indian government)
- SBI Buddy
The principal motive of the government is to make all the higher education institutions across the country cashless. In view of the same, HRD Minister Javadekar directed all the institutes of higher education to run awareness campaigns on digital payments in December 2016. The campaigns are still being conducted and most of the colleges are actively participating in it. Also, lakhs of students have registered their names as volunteers to promote awareness on digital payments.