Kerala Bank: Opposition alleges favouritism

THIRUVANANTHAPURAM: The opposition alleged nepotism and favouritism after () was chosen for implementing core banking solutions (CBS) for the proposed , a project that is estimated at Rs 160 crore. They then walked out of the assembly on Monday. 
Though cooperation minister Kadakampally failed to give a proper reply to the opposition’s query whether the selection was done after a tendering process and inviting EoIs (expression of interest), chief minister Pinarayi Vijayan, later clarified that IFTAS was a subsidiary of Institute for Development and Research in Banking Technology (IDRBT) that functions under RBI.
IUML MLA P Ubaidulla voiced his doubt against the selection of IFTAS during the discussions on demand for grants in the cooperative sector. VD , joined him and asked the minister about the procedures behind the selection. When Surendran failed to give a convincing reply, opposition leader claimed that IFTAS was a private company with one Prashanth Nambair at its helm and that the Rs 160-crore project was awarded to the firm without a competitive tendering process.

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