Minister K Krishnankutty suspends contract with Yes Bank, action taken due to Kerala Kaumudi report

THIRUVANANTHAPURAM: Minister for Electricity K Krishankutty has directed to freeze the agreement with Yes Bank, a private sector banking institution. As per the contract Yes Bank was allowed to give electricity bills and collect bill money.

The minister has intervened in the issue following the Kerala Kaumudi report regarding the irregularity in spot billing by KSEB along with Yes Bank. “The project is being halted due to implementation of smart meter project. Further steps will be taken after thoroughly studying the spot billing machines of Yes Bank and its money dealings.”, said the minister.

Currently spot billing, mobile app and online payment and any bank payment facilities are available. Spot billing payment with Yes Bank is being implemented on a trial basis in 14 KSEB divisions including Thiruvananthapuram. Smart meters are also being implemented in these divisions within months. With that, all billing and payment can be done from the office itself. The new contract just to help Yes Bank raises suspicion. Depending on a new generation bank is not the left government’s policy as many nationalised and cooperative banks are available in the state.