Maharashtra Governor Ch Vidyasagar Rao, who is also the Chancellor of Universities in the state, has written to all universities, asking them to shift to electronic or cashless transactions while accepting fees from students or dealing with various stakeholders.
Rao has even sought a time-bound action plan from the universities on this initiative. He has directed the Vice-Chancellors of all 20 agricultural and non-agricultural universities in the state to launch a drive to create awareness about the various methods of electronic and cashless transactions and electronic transfer.
In his letter to the V-Cs, Rao has asked them to ensure that all monetary transactions, in the sphere of the universities, their affiliated colleges and those concerning the student community, shall henceforth be done through e-banking.The direction comes in the wake of the reforms initiated by the Centre in the financial sector to build a cashless society and to correct ‘deficiencies in the system’, according to a press statement issued by the Governor’s office.
The Governor in his letter has told the V-Cs to ‘draw up a detailed time-bound strategy’ based on gaps/needs analysis for all the stakeholders and to adopt suitable mechanism to achieve the objective.
In the city, Mumbai University officials said most of their transactions are cashless and the varsity administration has already taken steps to promote them in line with the Chancellor’s guidelines. “We have issued a circular dated November 16, which is published on the university’s website. The circular has directed staff, students and other stakeholders to use cashless mode such as ECS, RTGS, NEFT etc for any and every transactions. We already collect fees through demand drafts, we would promote online banking there too. Hardly 5% of transactions in the university are done through cash, which are involve organising events etc,” said Leeladhar Bansod, deputy registrar, public relations, Mumbai University.