In the wake of demonetisation, all CBSE affiliated schools in the country will go cashless from January, 2017. The school will accept tuition fee only through online transaction. Also, staff payment will not be made in cash but through online. The move will bring about a revolutionary change in the way money transactions are made at private schools. This could also act as a deterrent to exorbitant amount of donations charged at private schools. These kind of transactions usually takes in the form of cash.
“The benefits of cashless transactions are enormous and the CBSE has introduced e-payment facilities for collection of fee for examination, affiliation andvarious activities including payments to its examination functionaries. The Board hasbeen directing its affiliated schools to disburse salary to staff through bank transfers. Further, with a view to reduce cash transactions at school, all CBSE affiliated schools shall introduce fee collection from students only online or through non-cash mode from the next quarter commencing from January, 2017 onwards,” CBSE board said in a statement.
“The schools should also make all payments for availing various services,procurements, wages to contractual workers and other transactions etc in non-cash mode,” it added.
Furthermore, the board suggested that the schools may organize various programmes like workshops, seminars to inculcate the habit of non-cash transactions in their daily life.