See if your college/institution have a greater than Rs. 2 lacs fees, then You can contact the admission cell of your institution and get it discussed. Usually, the amount paid option for most institutions asks for the one time payment of all the amount. So if you contact your institution then they can guide about the procedure or they can give you alternate options like Bank Challan, Cheque etc. So its better to contact the institution as all this rules of accepting the fees is under the vigilance of your institute only.

Have a great day!