TV
In a major decision that could possibly help scores of students, the University Grants Commission (UGC) has asked Higher Educational Institutions (HEIs) to implement Unified Payments Interface (UPI) and QR payment facilities for transactions, in both online and offline channels.
It is pertinent to mention here that the Government of India is focused on creating a digitally empowered society and knowledge economy, with digital payments as a fundamental component.
This vision supports a less-cash and more inclusive economy, empowering citizens in their financial decisions, read a UGC letter.
As observed, the Unified Payments Interface (UPI) has transformed the financial landscape by enabling seamless and secure money transfers, providing convenience to millions of users. Its integration with QR codes and mobile applications has made transactions faster and more accessible.
How UPI Will Come To Rescue Of Students?
The UPI has simplified payment processes for educational services allowing students in rural areas to easily pay for college, university, and examination fees.
As education increasingly moves online—offering courses, certifications, and study materials—the need for UPI as a payment option has become essential. In light of its growing popularity, the UPI transaction limit for educational services has been increased to Rs. 5 lakhs.
Given this context, Higher Education Institutions (HEIs) have been requested to ensure that UPI and UPI QR payment facilities are available for transactions at their institutions, both online and offline.
For any technical support, HEls may contact the nodal official from the National Payments Corporation of India (NPCI) for carrying out the necessary directions, the UGC letter added.
