THIRUVANANTHAPURAM: The Opposition boycotted Assembly proceedings Monday accusing the government of favouring a company for bringing out a unified software for cooperative banks at a cost of Rs 160 crore.
The Opposition raised the issue when cooperation minister Kadakampally Surendran, during the discussion on demand for grants, said a company named Indian Financial Technology and Allied Services (IFTAS) would develop unified software for cooperative banks ahead of the formation of Kerala Bank by merging district cooperative banks with the state cooperative bank. He said the software development project would cost Rs 160 crore.
It was VD Satheesn of the Congress who sought to know why IFTAS was selected for the project. When Kadakamaplly failed to give a convincing answer, a ruckus erupted. The Opposition also picked holes in the minister's claim that IFTAS was a subsidiary of Reserve Bank of India. The Opposition refuted the minister's claim and said it was a private company.
Leader of The Opposition Ramesh Chennithala demanded an answer from the government on whether an Expression of Interest was sought or a tender floated for selecting the company and accused the government of favoritism and nepotism.
Kadakamaplly said all set procedures were followed and said a final decision on the selection of the company has not been made. Chennithala then asked why many meetings were chaired by the Chief Minister and senior government officials and sought to know more about Prashant Nambiar, whose name cropped up in the negotiations.
Later, Chief Minister Pinarayi Vijayan clarified IFTAS was a subsidiary of Institute for Development and Research in Banking Technology (IDRBT), which in turn was controlled by the Reserve Bank of India. He accused the Opposition of trying to create confusion by claiming that the company was owned by some Prashant N.