12 from Karnataka, who attended Tablighi Jamaat conference, test negative for COVID-19

Jun 19: BJP leader Devendra Fadnavis on Thursday said Maharashtra Chief Minister Uddhav Thackeray should sign an agreement with neighbouring Karnataka to avoid a repeat of flood in part of the state like it happened in August last year.

In August 2019, Kolhapur, Sangli districts and some other parts of the state faced unprecedented floods triggered by huge release of water from dams in western Maharashtra and from the Almatti dam in Karnataka.

Fadnavis said, The Maharashtra chief minister should hold an urgent meeting with the Karnataka chief minister and enter into an agreement over-discharge of water from the Almatti dam located on the border of both the states."

If water is not released from the Almatti dam in time, it will cause flooding in border areas of Maharashtra such as Kolhapur and Sangli.

"A pact between the two states would benefit both as it would help in keeping water levels in control, the former chief minister said.

The dams in the state already have sizeable water stock. It would be better if the chief minster schedules a meeting with the Karnataka chief minister regarding the same (agreement), the Leader of Opposition in the assembly said.

Jun 6: Private sector lender Karnataka Bank has reported to the RBI that it has been defrauded of over Rs 285 crore consequent to loans gone bad to four entities including DHFL.

A total of Rs 285.52 crore has been reported as fraud wherein the bank was one of the consortium lenders during 2009 to 2014 to Dewan Housing Finance Corporation Ltd (DHFL), Religare Finvest, Fedders Electric and Engineering Ltd and Leel Electricals Ltd, Karnataka Bank said in a regulatory filing on Friday.

The maximum is owed by DHFL at Rs 180.13 crore, followed by Religare Finvest Rs 43.44 crore, Fedders Electric Rs 41.30 crore and Leel Electricals Rs 20.65 crore.

"DHFL (defaulted entity) dealing with us since 2014 had availed various credit facilities under consortium arrangement wherein, we were one of the member banks. In view of Early Warning Signals (EWS) in the conduct of the account and other developments, the account was red flagged on November 11, 2019.

"The borrowing account was classified as Non-Performing Asset on October 30, 2019 and now, for misappropriation & criminal breach of trust & diversion of funds in the credit facilities extended earlier to the company, a fraud amounting Rs 180.13 crore has been reported to RBI," Karnataka Bank said.

Likewise, Religare Finvest Ltd (RFL) was dealing with the bank since 2014, availing various credit facilities.

Following classification of this account as non-performing in October 2019 by a consortium member, Karnataka Bank reported to RBI a fraud amounting to Rs 43.44 crore in the credit facilities extended earlier, on account of diversion of funds.

Leel Electricals was classified as NPA account in March 2019 and it reported to RBI a fraud amounting to Rs 20.65 crore in the credit facilities to the company on account of diversion of funds.

"In all the referred three non-performing accounts, necessary provisions have been made in full to be spread across four quarters," it said.

Fedders Electric and Engineering Limited was reported as NPA in July 2018 by a member bank in consortium, subsequent to which Karnataka Bank reported fraud of Rs 41.30 crore on account of fund diversion.

The account has already been fully provided for, it added.