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Even as Satyam (Satyam Computer Services) struggles to find a foothold without a CEO and liquid cash in the light of recent developments, India’s largest bank, the State Bank of India (SBI), has decided to retain its contract with the former for maintaining its Internet banking services, a top bank official said in a recent statement.
“We are not at all thinking of changing Satyam as our vendor for Internet banking services. But we are prepared,” SBI deputy managing director in charge of IT, R P Sinha said on the sidelines of an IT seminar.
“We are happy with Satyam’s service as a vendor, there is no problem at all. If anything happens anywhere, we are fully prepared. There will not be any disruption in our net banking services,” Sinha said when asked whether the vendor is capable of handling the banking transactions that take place through the portal.
Satyam’s founder and disgraced former chairman B Ramalinga Raju last week admitted to committing a Rs 70-billion (Rs 7,000-crore/ $1.43 billion) accounting fraud.
Sinha said he was hopeful that Satyam’s condition would improve as the government was taking measures to ‘bring it back to health’. (IANS)
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