In a significant development the Central Board of Secondary Education (CBSE) has asked schools to adopt cashless transactions from January 2017.
In a circular, the board has decided to introduce e-payment facilities for collection of exam fees, affiliation and other activities in the schooling system. The circular also stressed on schools to give importance to promote benefits of cashless transfers in its neighbourhood.
The board has directed schools to make salary payments of teachers online through Direct Benefit Transfer. With the directive coming into effect it would enormously reduce cash burden on the board and its affiliated schools.
Besides the process also aims at aligning education system with PM Modi’s ambitious push for cashless economy in the country post demonetization.
Since schools are the roots of any reformation process to start with the move by CBSE comes at a very good time to enhance and gradually adopt cashless transactions in education department.