Financial Times FT.com

Wipro falls on World Bank contract ban

By Joe Leahy and James Fontanella-Khan in Hyderabad

Published: January 12 2009 06:58 | Last updated: January 12 2009 11:07

India’s outsourcing sector, still reeling from the $1bn-plus scandal afflicting Satyam Computer Services, received another blow on Monday when the World Bank said it had banned Wipro Technologies from doing business with it.

The World Bank included Wipro, India’s third-largest information technology outsourcing company, in a list of companies banned under the bank’s corporate procurement policy, accusing it of “providing improper benefits to bank staff”.

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