The World Bank on Sunday blacklisted three IT firms which includes Satyam Computer Services, Wipro Technologies and an unknown IT company Megasoft Consultants. The Bank said the move is in line with its disclosure practices for companies involved in wrongdoing that work on development projects financed by the World Bank and those that provide goods and services directly to the institution. "This change was made in the interest of fairness and transparency," the Washington-based lender said in a statement, reports Reuters.
According to Reuters, "The World Bank on Sunday said it plans to publish in the future the names of all companies it bans from doing work with the poverty-fighting institution, and immediately listed three Indian companies."
