Cashless university system to improve accountability

Universities across the country may now have to resort to cashless means like bank transfers, cheques and credit or debit cards while making use of periodic funds from the University Grants Commission, writes Deepika Burli for TNN.

In a directive to the 600-odd universities which come under it, the commission has proposed that they may make use of the current system of demand drafts only on rare occasions. The commission said the move was in order to bring in accountability, transparency and seamlessness in the process of transfer of grants. The commission said it has virtually made payments cashless and decreased the interface between stakeholders and employees of the organisation.

Higher education institutions in Bengaluru are all for the commission's approach to make transactions completely cashless. Funds for research scholars and fellows, which universities have the responsibility to disburse, are already being done in a cashless manner at some institutions.
Full report on The Times of India site