ASSOCHAM backs Wipro

NEW DELHI: Industry chamber Assocham has termed the World Bank's ban on Wipro Technologies from doing business with the global lending organisation as 'improper'. The World Bank on Monday disclosed that it had barred India's third largest software exporter in 2007 for four years for providing 'improper benefits to bank staff'.

The chamber has backed Wipro saying that it did nothing wrong in offering shares to the World Bank employees during its public issue in the US nine years ago. In a press statement, Assocham said, "There were hardly any corporate governance guidelines in 2000 that Wipro could have violated."