Starting January 1 2017, all CBSE-affiliated will need to collect Education Fee using online payments in cashless mode. A short letter from board secretary Joseph Emmanuel to principals has made it clear to accept fees in cashless mode for CBSE affiliated schools. This can be seen as another step to curb black money circulation in cash mode. (Source : Economic Times)
The letter states: “With a view to reduce cash transactions at schools, all CBSE-affiliated schools shall introduce online fee collection or through non-cash mode from the next quarter commencing from January 2017.”
Traditionally, most of the education institutes accept Fee in the form of cash only. There is limited number of schools accepting digital payments. This CBSE recommendation can certainly change it.
The letter states: “The benefits of cashless transactions are enormous and the CBSE has introduced e-payment facilities for collection of fee for examination, affiliation and various activities including payments to its examination functionaries. The board has also been directing its affiliate…”
Apart from Fee Collection CBSE has also mentioned all kinds of payments including procurement, various services, wages should be done online mode.It is expected that schools should arrange parents meet and explain advantages of cashless mode of payments.
Technology for Cashless Fee Collection
ePravesh® has various features to accept Fee payments from the parents/ students using online payment mode. There is facility of Fee Challan Generation. After online payment is confirmed challan copy for student, library, Institute Admin, Account Department can be generated for the records. Many education institutes are using Online Fee Collection Process using ePravesh® Technology. Institutes are able to save significant administration cost.
In case of installment mode of fee payment system generate report of pending fees so that institute admin get to know financial reports. Fee payment is also adjusted based on category, outside state students, scholarships and other such specific criteria set out by the institute.
“ MMCC has been using ePravesh® platform to manage registration and Fee collection of all the college students. MMCC has been able to generate all the reports related to student fee collection, pending dues, categorywise data etc instantly. Fee Collection process has been automated using technology…”