Demonetisation Brings Modi-Nomics to Schools
December 2016

Demonetisation Brings Modi-Nomics to Schools

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Since Prime Minister Narendra Modi announced the demonetisation of `500 and `1,000 notes in November, the move has evoked innumerable responses and discussions in almost every sphere of life in India. The world of education certainly was not an exception, Rashi Aditi Ghosh and Priyanka Sharma of Elets News Network (ENN) tried to explore the influence.

Despite having a huge significance for the Indian growth story, the education sector’s response somehow got sidelined or perhaps not given a proper heed to.
Be it students, academicians or powers that be in various academic institutions, a big section of them appears to be unanimous in stating that the move’s overall effect on education has been positive.

Effects of Demonetisation on Schools
Advantages:
Wide Scope for Poor Students:
Demonetisation will create a level-playing field for aspiring and deserving students, who are unable to pay capitation fee, which has been widely prevalent in the private education system.
Respite from Capitation Fee: The government’s demonetisation is likely to give a big relief from the monetary harassment done in the names of capitation fees. This is actually the money paid to educational institutes to cover up for the academic underperformance of students who wish to seek admission based on capitation fee. Described as “donation”, sometimes its amount is more than 100% of the usual fee.
Speaking on demonetisation and its ablity to curb capitation fee, Vaishali Parikh, Headmistress –Anand Niketan, Bhadaj Campus, said, “Demonetisation can change the course of expensive education which can be made more affordable devoid of the capitation fee. The seats in the so-called management quota will not be up for sale by the institutions instead they will be in the hands of meritorious students.”
A Curb on Black Money: The amount of unaccounted wealth with many such parents is likely to considerably reduce, resulting in increased opportunities for those students who are capable, but previously used to edged out by capitationfee-paying students.
Getting Closer to Digitisation: With demonetisation the usage of various e-payment gateways like online debit/credit card transactions, e-wallets and mobile banking has registered an enormous rise. It has opened a whole new way of making payments required for educational institutions. E-books, paying fees online, buying and sharing digital projects will see a definite rise post-demonetisation.
Talking about the impact of demonetisation on educational institutions, Kiranjit Singh Pannu, Principal, Tapti Valley International School, said, “Demonetisation, although sudden, it has given a great boost to the schools. Because of this initiative schools from now on will get digitally enhanced and cashless.”

Disadvantages:
Poor Internet-connectivity areas may face problems
Nearly 20 per cent Indians have access to the internet. While, a mere 14 per cent Indians can access internet occassionally through their mobile phones, according to Pew Research Centre, an American research Organisation.
Explaining the issue of poor Internet-connectivity and its impact on demoentisation, Joseph Thomas, Chairman, Mount Litera Zee School, Mysore, said: “Schools in cities may not have a big problem adjusting to demonetisation, as parents are educated and tech savvy. But it may be a hassle for institutions in rural areas where more awareness and training is required. We don’t anticipate any big difference or change as people are adapting to the reality.”Demonetisation May Raise Cyber Threats In a recent

Demonetisation May Raise Cyber Threats
In a recent cyber attack of unprecedented scale, safety of over 32 lakh debit cards was compromised in October, the culprit being a malware. It was reportedly the biggest data breach in the Indian banking history.
According to the India Risk Survey-2016 conducted by Pinkerton and FICCI, the information and cyber insecurity has been listed as the second biggest threat to businesses in India for two consecutive years.

Impact on higher education overseas
Since some parents use black money to fund student expenses for those who are studying abroad, the flow of Indian students to foreign countries may also dwindle.

Government Endeavours to Promote Digitisation post-demonetisation

HRD Ministry to award educational institutes promoting digitisation
Promoting the Prime Minister’s favourite demonetisation move in a major way, the Ministry of Human Resource Development gave a deadline to all educational institutions to go completely digital for payments, and the institute that makes the best effort will be awarded by the ministry.
A roadmap on how e-payment mode should be adopted has been given to various institutions. By January 12, all institutions should complete the first step of going completely cashless.
A circular in this regard was sent to all colleges and universities recently. Institutes are also required to submit the details of the steps taken by them till January 12 and the number of student volunteers that have been enrolled.

“Schools in cities may not have a problem in adjusting to demonetisation. But it may be a hassle for institutions in rural areas where more awareness and training is required.”
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Joseph Thomas,
Chairman, Mount Litera Zee School, Mysore

CBSE goes the cashless way Smart Cards and e-Wallets to be introduced in schools soon by CBSE
From next quarter, cashless transactions will be mandatory for all CBSE affiliated schools. The educational board has decided to make payment of teachers’ salary and school fees cashless. Thus, Central Board of Secondary Education (CBSE) has also decided to introduce smart cards in canteens and tuck shops to promote financial literacy and to inculcate the habit of cashless transaction among students.
CBSE has conducted meeting with 350 nodal schools on December 7 and they made them understand how to make the schools completely cashless. And, just after this meeting, within three days a circular on staff payment through bank transfer and payment of fees only through “non-cash” mode.
CBSE recently declared that from January 17, it will go cashless with affiliated schools, accepting fees through e-payment.

“Demonetisation can change the course of expensive education which can be made more affordable devoid of the capitation fee.”
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Vaishali Parikh, Headmistress -Anand Niketan, Bhadaj Campus

Rajasthan Education Board to initiate e-payments
To help students pay their fee on time and ease their difficulties due to demonetisation, the Rajasthan Education Board on December 9, 2016 announced that it will be taking steps to digitalise their fee payment options. The Board has begun digitising its cash counters.
The Board is contemplating going cashless for student service centres in many districts as well as other offices as well.
The Board has made certain arrangements to digitise payments at these centres in the coming few days. For this, UPI addresses have been made ready, through which 30 terminals will be prepared.
Explaining about the preparedness pertaining to demonetisation, Kiranjit Singh Pannu, Principal, Tapti Valley International School, said, “We have commenced our measures for total Cashless transaction and Cashless school. We have briefed parents, teachers, staff and support staff about the change, implications and way ahead. We have organised a workshop by Chamber of commerce certified CA’s for our children of Grade 11 and 12 (Commerce). We are also organising awareness workshop for the parents and staff.”
Adding more about preparedness, Preeta Pillai,  Principal-Podar World School, said, “The benefit of cashless transactions are enormous therefore our school introduced online facility and non cash mode for collection of all types of school fees much before the announcement of demonetisation. Our school is interacting with Parents during Parent Teacher Meeting to spread awareness about the benefits of non-cash transactions and motivate students of senior classes to undertake promotional initiatives in their neighbourhood to promote cashless transactions among common people.”

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