In these tough times of Demonetisation, one of the premier colleges of Delhi University has found a solution! Shri Ram College of Commerce is all set to become the first cashless college in the city from Wednesday.
All the shops inside the college premises will accept different modes of cashless transaction. “From Wednesday these shops in the campus will have point of sale machines as well. The rest of the transactions in college like fees etc are already online,” said Kumar.
The financial literacy cell of the college, Vittshala, launched in October 2016, will conduct a two-day awareness programme on Monday and Tuesday in order to let students know about the new cashless facility. This doesn’t stop here. Vittshala has also adopted one village in Haryana and two slums clusters in Delhi to help them adopt the cash less mode of payment.
SBI officials will interact with the college students and staff members to explain them the different modes of transaction and will offer credit facilities to them. In October and November, around 100 students underwent training conducted by State Bank of India and Life Insurance Corporation on various aspects of financial literacy.
Convener of Vittshala, Professor Anil Kumar said, “The college will become completely cashless by next Wednesday. Students, teachers and staff members will get credit cards free of cost. The bank officials will also explain to them how to make Aadhaar-based payments. ”
The new initiative started by Shri Ram College of Commerce is highly appreciated and we hope that it will turn out to be successful in these times of cash crunch!