The State government’s decision to cancel the contract awarded to the Indian Financial Technology and Allied Services (IFTAS) to set up core banking system in primary cooperative societies is vindication of the charges raised by the United Democratic Front, Leader of the Opposition Ramesh Chennithala has said. The Opposition had alleged in the Assembly in March that the Rs. 160-crore contract for core banking was awarded to a company that had no technological expertise. The Opposition had alleged corruption behind the decision.
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