Effect of Demonetisation in the ambit of Distance Education Institutions in India

Abstract

Distance Education Institutions (DEI) being a part of the society and has the legal binding to abide by the policy changes. During demonetisation, a Distance Education Institutions (DEI) has to take certain decisions to ensure that crunch for cash do not exist, in spite of the fact that most of the public Distance Education Institutions (DEI) resort either to fund transfer or to cheque payment. In India, demonetization of bank notes took place for the third time on 8th November, 2019.This paper enumerates the Procedure Adopted on the eve of demonetization, Financial literacy Awareness campaigns conducted on the use of digital money/cashless transactions upon demonetization, Employee movement to ATM/Bank for cash withdrawal, Facilitating withdrawal through a single person due to limited hard cash, Written circular to all the Learner Support Centers (LSC) about the procedure to handle cash, procedure of Petty cash transactions, Sale of Student Hand book and Prospectus containing the admission application form, Special Counter for Senior Citizens and Differently abled, Payment towards Travelling Allowance/Conveyance for participants in Meetings/Orientation Programme.