Following the demonetization of Rs 1,000 and Rs 500 notes, subsequent cash crunch and problems of the students, the authorities of Gauhati University (GU) have planned for a cashless transaction through smart cards.
To cope with the situation, the university has already given way to smart cards among students and the cashless system is expected to be operational very soon. These smart cards will be equipped with a PIN and the students can easily make payments in the campus.
Ranjan Kumar Kakati, director of students' welfare society of the University said that students shall no longer worry about the transactions. For cashless transactions, they have provided smart cards that will be immensely beneficial to the students. Already the process of distributing the cards and the PINs to the students has started. Once the bank provides card-swipe machines the system will become operational.
Kakati further said that as soon as the system becomes operational, students will not have to queue up at the banks and ATMs. The university would also get most of its payments through the smart cards. It will save the time and effort of the students. They can go cashless during their stay on the campus of the University.
Another University official said that smart card system will definitely make things easier for the students. As the students have been facing lots of problems that in turn led to them losing their valuable time. Now the parents and guardians can transfer the money to the bank account linked to the smart card.
A member of the Post Graduate Students' Union of the university said that once these smart cards becomes functional the students will be the greatest beneficiaries. It will save their time and make things easier for them. Such a move will also help PM Modi's aim for a cashless economy.