The Central Board of Secondary Education (CBSE) is pushing its affiliated schools to embrace digital payments for various financial transactions. This includes everything from fee payments to purchases at school canteens and libraries.
On September 30, the CBSE issued a circular following guidance from the Department of Financial Services (DFS) under the Ministry of Finance. The DFS aims to boost access, usage, and safety of digital payment practices in educational institutions across India.
Schools are encouraged to set up infrastructure that accepts universal digital payments. This means enabling UPI (Unified Payments Interface) and RuPay card transactions for expenses like fees and services provided at schools. For those in areas with unreliable internet connectivity, options such as UPI Lite and UPI 123PAY are available.
To enhance fee collection efficiency, CBSE recommends that schools consider integrating with the Bharat Bill Payment System (BBPS). This provides standardised and secure payment methods, allowing for streamlined recurring payments, including salaries.
The board also emphasizes the need for greater awareness around digital payments. As part of this initiative, schools might integrate digital payment literacy into teacher training programs or conduct campaigns to promote financial awareness among students.