The incident of employees of a college in Vijayawada were shocked on receiving messages about deposits and withdrawal of amounts from their bank accounts without their knowledge has exposed how managements of corporate and private colleges in two Telugu states have been `exchanging’ their black money through their staff members.

Though the correspondent of this college Kantha Rao claiming ignorance, the police registered a case against him and were investigating as to how Rs 12 lakh were deposited in his college staff bank accounts. Of this, half of the amount was withdrawn.

However, this is not said to be an isolate incident, but managements of popular corporate colleges like Sri Chaitanya, Narayana and Vignan, besides large number of private professional colleges are paying salaries to their staff in old notes.

As normally most of these colleges used to pay salaries in the second week of a month, they conveniently paid October month salary in old notes immediately after demonetization. They also informed their staff members November month salary also will be paid in cash, as against to their normal practice of online transfer.

Besides payment of salaries in cash, these colleges are paying all dues, bonus and other payments also in old notes. Even staff are being offered to get advance payments. Some colleges are asking staff to exchange some old notes through their bank accounts and return back in the form of new notes.

A teacher in a corporate college said as she denied to exchange their old notes from her bank account, she was given a nominal annual increment. But other teachers who helped management to exchange some portion of its black money were given two to three times more amount towards increment, she added.