IGNOU Adopts 99 Percent Cashless Transactions

After the Central Government launched its nationwide campaign for digital financial literacy in the wake of shortage of currency notes due to the demonization of INR 1000 and INR 500 notes last month on 8 November 2016, Delhi-based nation's largest distance education university, Indira Gandhi National Open University (IGNOU) said that it has been carrying 99% of its transaction through a digital mode.

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The University also plans to introduce debit cards for its students so as to help them in carrying out cashless transaction smoothly.

In a statement, the university said that it carries its cashless transactions for various administrative purposes like disbursement of salaries to its permanent employees and contractual workers and other related payments.

The University, in association with Union Bank of India, also plans to issue debit cards to its students before the admission session starts to enable them to carry out all financial transactions. Now the University plans to rope in students to help them in this process. For that, the university has decided to enlist the support of around 100 students from every regional centre as the eKranti volunteer for this purpose.

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Keeping in tune with the changing scenario, IIT Bhubaneshwar has also opted for a cashless transaction. The institute in a communique said to the Human Resource Development Ministry that it has started its cashless transaction through the online method for the payments suppliers, vendors, contractors and other people with whom transactions are due.

Even the Madhya Pradesh Higher Education Department in response to Centre's demonetisation drive, said that it would also go cashless in all colleges and universities across the state.