Hyderabad: The cash crunch that left several people in a spot of bother also cast a shadow on the annual days and fests in colleges across the State. Generating funds for conducting annual events is now an uphill task for students and college managements. Students rely on sponsors from corporates and industries to hold their annual fests.
One such fest is Carpediem of Chaitanya Bharathi Institute of Technology (CBIT). Earlier, students scouted for sponsors and spent about Rs 20 lakh to Rs 25 lakh on the once-in-two-year fest.
But this time it is difficult to find sponsors, they say. “The fest is organised once in two years. This year due to demonetisation, some sponsors asked us if we would accept funds in old notes. Even now corporates and industries are facing cash crunch,” says B Chennakesava Rao, principal of CBIT.
Similar is the situation with the students of Malla Reddy Engineering College where the college fest is scheduled for January.
Students are in the quest of sponsors. “We prepared brochures of the festival and everything is ready, but the sponsors. There is an effect of demonetisation,” says VSK Reddy, principal of Malla Reddy Engineering College.
University campuses are no exceptions for the cash crunch when it comes to conducting events. D Suman, general secretary of University of Hyderabad Students Union, said demonetisation will impact Sukoon, the annual students’ festival, badly. “So far, payments were in cheques for an event. But now we do not know how to get sponsors. We do not have cash as ATMs on the campuses are running dry. The student union and students on the campus are facing a lot of problem,” he said.
The situation in government junior colleges is no different. While the colleges have funds in their accounts, withdrawing is difficult because of the cap.