World bank bans even Wipro

Wipro has disclosed its vendor status with the World Bank as the latter had asked for disclosure. The company has now become ineligible for direct contracts from the World Bank till 2011.

Wipro’s cumulative deal with the World Bank amounts to USD 1 million. The World Bank has alleged benefit to employees leading to ban.

Reacting to World Bank’s decision, Suresh Senapathy of Wipro said that World Bank cumulative revenue in eight years has been less than USD 1 million and that the ban will not have any material impact on the company’s business.

Senapathy said that World Bank officials had subscribed to direct share purchase without a nod from the bank. Three World Bank members were offered shares at normal market price, he added.