Thursday, February 18, 2016

740 Plus Universities in India open for CashLess economy

The breakup of various categories of Universities in India is as under:-

UNIVERSITY GRANTS COMMISSION
Total No. of Universities in the Country as on 14.12.2015
Universities
Total No.
State Universities
342
Deemed to be Universities
125
Central Universities
46
Private Universities
227
Total
740

          A typical Indian University is spread over 125 acres as a semi-closed township.
          The following table indicates the acreage of few Indian Universities.

Rank  
University  
Founded  
State  
Campus Area (In Acres)  
1
G. B. Pant University of Agriculture and Technology
1960
Uttarakhand
12,661
2
University of Hyderabad
1974
Telangana
2,300
3
Osmania University
1918
Telangana
1,600
4
Punjab Agricultural University
1962
Punjab
1,510
5
Banaras Hindu University
1916
Uttar Pradesh
1,350
6
Aligarh Muslim University
1920
Uttar Pradesh
1,155
7
Bangalore University
1886
Karnataka
1,100
8
Sri Venkateswara University
1954
Andhra Pradesh
1,000
9
Jawaharlal Nehru University
1969
Delhi
1,000
10
Annamalai University
1929
Tamil Nadu
1,000
11
Sam Higginbottom Institute of Agriculture, Technology and Sciences / Allahabad Agriculture Institute
1910
Uttar Pradesh
900
12
Mizoram University
2001
Mizoram
978
13
Tamil University
1981
Tamil Nadu
900
14
Guru Ghasidas University
1983
Chattisgarh
875
15
Banasthali Vidyapith
1935
Rajashthan
850

          The primary residents of a university campus are students/teaching staff/support staff.

          The populace of the university varies from 5,000 to 25,000 depending on the courses it offers.

          To sustain the university residents, a large number of commercial, semi-commercial establishments exist within the campus.

          Normally the University’s stores serve the residents. The canteens serve the students.

          Universities can be transformed into CashLess economies rather than Cash economy.

          As the literate levels are high within University campuses, they offer right mix of customer base for any organisation interested to disseminate CashLess techniques.

          The concept of a Smart Card to transact electronically within the campus goes back to the year 2007.

          UGC disburses all its payments including scholarships through the electronic mode only. Click here for the UGC circular.  

          Any University student desiring to receive selected UGC scholarships is expected to open a bank account with designated Canara Bank.  

          There have been many attempts to introduce LessCash techniques in the Indian education system.

          However, so far a single electronic payment system linking the complete gamut of education system is yet to be introduced.

          Typical features of a Education Smart Card

01)  Aadhaar authenticated

02)  Scholarships credit

03)  Loyalty points

04)  Sub-Wallets i.e Food, Library, Hostel etc

05)  Loan disbursement

06) Loan repayment

07) Micro Insurance

08) Mini Overdraft facility

09) Credit Tool Monitoring

The market is ready, are the service providers ready?

Additional Reading Material:

Kenya: HELB Inches Closer to Phasing Out Cash Loans

KCB signs up three varsities for issue of smart loan cards


National Open University of Nigeria (NOUN) e-Wallet