Kerala Bank clarifies on tender process for CCTV, burglar alarm installation; vigilance probe underway

Kerala Bank has issued a clarification on reports in certain sections of the media about its tender process for installing CCTV cameras and burglar alarm systems across its branches.

The bank said it took the decision to strengthen its security infrastructure in line with strict directives and guidelines issued by regulatory authorities, including the RBI, NABARD, the Registrar of Cooperative Societies, and the Director General of Police.

According to the clarification, the bank identified branches where CCTV cameras and burglar alarm systems were not available and decided to install the required security equipment. The bank's Technical Committee conducted a study, following which quotations were invited through the government-controlled e-tender portal in accordance with prescribed procedures.

Kerala Bank said only one firm participated in the initial tender. However, multiple firms took part when the tender was floated again. The bank subsequently held negotiations with the firms that quoted the lowest rates before accepting the tender.

The bank said the rates finalised through the re-tender process were lower than those received during the first tender, ensuring that the arrangement was in the institution's best interests.

The management committee decided to proceed with the installation through the firms that quoted the lowest rates, subject to the approval of the Registrar of Cooperative Societies and in accordance with existing rules and regulations.

Kerala Bank maintained that the process was carried out legally and transparently to ensure essential security systems were installed in its branches. It also said the bank would fully cooperate with the ongoing vigilance inquiry. The Vigilance Special Investigation Unit 2 collected tender documents from the office on Tuesday.