Prime Ministers Narendra Modi’s announcement of de-legalising the 500 and 1000 Rs note on November 8, 2016, sparked debates all across India. While many people are still debating the pros and cons of the move, Shri Ram College of Commerce has decided to go cashless from Wednesday i.e. January 11. It is to be noted that though SRCC will be the first college to do so, the students there never faced any major problems during demonetisation.
“We already have online wallets and cards through which we can make payments. There is no adverse effect as such which we can mention for now but we may face problems and that can be said only once college goes cashless. Also, PWD students may face a little difficulty since many of them do not use android phones and hence they cannot make online payments,” Shir Jain, a third year B.Com student said.
The Financial and literacy cell of the college, Vittshala, decided to make the college go cashless. It is a project started by the teachers and students of the college and is headed by the society convener Dr Anil Kumar. To make the project successful, awareness programs were conducted by SBI officials on Monday and Tuesday in the college premises. Students and other members of the college were explained about making payments through various digital wallets.
“College will be entirely cashless. Even out the library, fines will be collected through online modes of payments. Adhar enabled payment system will also start in a couple of days,” Prashant, a member of Vittshala, said.
All the transactions will be made through Paytm, SBI Buddy, Easy Recharge and point-of-sale machine. However, shops in college will be provided with the point-of-sale machine in next few days.
“From Wednesday onwards we will not accept any cash. All payments will be made through Paytm and other apps. Students taught me the usage of various apps with which I can accept payments from students,” Suresh Kumar, owner of Xerox show of the college said.
SRCC will be the first college in the University of Delhi to go cashless!