During the winter break, a notice was circulated by HMC to every shop and canteen inside IIT to go cashless by 1st of Jan but as we can see the changes are next to nothing. Though many of the shops have started accepting payment through Paytm but you can hardly find any shop which has adopted the POS system. We looked into the matter and had a small talk with one of the HMC representatives.
Here is an extract what he said:
There has not been a marginal change because cashless payment hasn’t been enforced on the campus as the banks were not able to supply a large number of POS machines at such a large scale immediately. Though some shops have adopted the POS system, many shopkeepers were not supporting the decision and are at the refusal to bring such change immediately. There can be various factors for this kind of refusal but the primary reasons can be:
- It is not feasible to avail cashless payment on each and every shop like Xerox centers, bicycle repairing shops as there are very minor transactions taking place.
- If POS system is adopted by the shops then the shopkeepers will also have to pay 1% of the amount paid by the customers. This way they have to compromise with their profit and hence POS system does not appear appealing to them.
- Currently the canteen and shop owners are not paying taxes for their income as it goes unnoticed but after the adoption of POS system, their whole transactions will become transparent and they may have to pay taxes.
When asked about the future plans regarding cashless KGP, the official said that the notice was forwarded by the office of honourable Prime Minister of India, they will try to implement the plan as soon as possible. He added that they are also encouraging the students to use any kind of online wallets so as to support the initiative of Prime Minister. The whole motive of this notice was to promote the cashless mode of payment in IIT campus for the convenience of students.