"Personally, I am not interested in continuing as minister," he told reporters here today.
Asked why the Chief Minister had not accepted his resignation and forwarded it to the Governor, Babu said he was not the right person to answer that question.
"It is for Chief Minister to reply to that," he said.
"I have also initiated steps to vacate my official residence as Minister," he said.
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Meanwhile, Chandy told reporters in a cabinet briefing that he was yet to discuss the issue with his colleagues, though Babu was firm in his decision to quit.
Babu resigned from the Oommen Chandy Cabinet over the bar bribery scandal on January 23 after a vigilance court directed registration of an FIR against him in the case.
Babu's resignation came two months after the resignation of Kerala Congress(M) supremo K M Mani as Finance Minister following Kerala High Court making some stinging observations against him over the bar scam.
Working President of Kerala Bar Owners Association Biju Ramesh had alleged that Babu was given Rs 10 crore as bribe for renewal of licences of liquor bars, a charge rubbished by the Congress leader.