Audit Report Flags KIIFB Staff Expansion, Publicity Spending and Self-Approved Borrowing

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A 106-page report has found that the Kerala Infrastructure Investment Fund Board grew from 40 sanctioned posts to 498 employees without the required government approval. The body also spent Rs 203.72 crore on publicity within a single financial year. According to the report, the board effectively approved its own borrowing guarantees. The findings have drawn political reaction, with VD Satheesan criticising the state government's handling of the agency. The report raises questions about oversight and accountability in the fund's operations.

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