2 passengers from Dubai arrested at Mangaluru Airport for smuggling gold

New Delhi, May 29: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.2 crore on Karnataka Bank Limited for non-compliance of asset classification, divergence and provisioning norms.

"The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) of the Banking Regulation Act, 1949. 

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers," the central bank said in a statement on Thursday.

According to the central bank, the statutory inspection of the bank with reference to its financial position as on March 31, 2017, and as on March 31, 2018, and the Risk Assessment Reports (RAR) pertaining thereto revealed, inter-alia, non-compliance with the directions issued by RBI.

Earlier, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for non-compliance with the directions.

After considering the bank's reply to the notice, oral submissions made in the personal hearing and examination of additional submissions, RBI concluded that the charges of non-compliance with RBI directions warranted imposition of monetary penalty, according to a release.

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Bengaluru, July 13: As Bengaluru prepares for a seven-day lockdown from Tuesday following the spike in COVID- 19 cases, opposition parties in Karnataka have urged the government to enforce the measure in the entire state.

JD(S) patriarch H D Deve Gowda and Congress working president Eshwar Khandre have demanded that the entire state be placed under lockdown.

Welcoming the government's decision to implement the lockdown in Bengaluru Urban and Rural, Gowda said, "I urge the government through the media to enforce lockdown in the entire state."

The former Prime Minister in a statement appealed to people of the state and the entire country to wear masks while venturing out, maintain social distancing, clean hands with sanitizer regularly, and to come out only if there is necessary work.

Stating that allegations of misappropriation have been made by several leaders against the government in implementing measures and packages to control spread of the virus and its impact, Gowda said, "whatever it is let's discuss about it in the next legislature session, at present health of the people is important and let's focus on it."

The government should work in this direction, we are all with the government, let's not play with the health of the people, he said, adding that "I appeal that at least from here on work actively."

With a spike in Covid-19 cases, the Karnataka government on Saturday announced complete lockdown in Bengaluru Urban and Rural from July 14 to 22.

The lockdown is from 8 pm on July 14 to 5 am on July 22.

Congress leader Khandre, meanwhile reminded Chief Minister B S Yediyurappa that COVID cases and related fatalities were not only increasing in Bengaluru but also in the border districts of the state.

The situation was getting out of hand in Bidar, Kalaburagi, Yadgir, Raichur, Koppal, Ballari districts, he alleged.

"So implement strict lockdown once again in the state at least for fifteen days."

"Bring the situation under control. I appeal to the government that in this lockdown period at least to correct its past shortcomings and take all measures to face the pandemic efficiently in the future," he tweeted.

Meanwhile, Chief Minister B S Yediyurappa will be chairing video conference with Deputy Commissioners, Zilla Panchayat CEOs and Superintendents of Police of various districts regarding the COVID situation and the rains.

As of July 12 evening, cumulatively 38,843 COVID-19 positive cases have been confirmed in the state, which includes 684 deaths and 15,409 discharges.

Bengaluru Urban district tops the list of positive cases, with a total of 18,387 infections. Of the 2,627 fresh cases reported in the state on Sunday, a whopping 1,525 cases were from Bengaluru Urban alone.

Bengaluru, Jul 10: Alarmed by the surging COVID-19 cases across the state, especially in Bengaluru, Karnataka Chief Minister BS Yediyurappa on Thursday urged the state capital’s residents not to visit their villages to prevent the infection’s spread.

“I urge the people of Bengaluru not to travel to their villages and prevent the infection from spreading in rural areas,” Yediurappa told reporters.

Admitting that the battle against the virus would be long, he said that the fight against COVID-19 could be won only through persistent efforts and with people’s cooperation with the frontline ‘warriors’.

“Combating the pandemic through preventive measures, providing treatment to the infected and saving lives are our priority,” he said.

With a record 2,228 positive cases on Thursday, the southern state’s COVID-19 tally shot up to 31,105, including 17,782 active cases, while 457 people have died of the infection till date, 17 just in the last 24 hours.

Of the new cases in the state, Bengaluru accounted for 1,373, taking its tally to 13,882, including 10,870 active, while 177 have succumbed to the virus since March 9.

No deaths were, however, reported in the city on Thursday.

Of the 457 patients in intensive care units (ICU) across the state, 292 are in Bengaluru hospitals.

Since unlock began on June 1, COVID-19 cases shot up to 15,242 on June 30 from 3,221 on May 31 and to 31,105 in 9 days since July 1.

Similarly, in Bengaluru, positive cases shot up to 4,555 on June 30 from 358 on May 31 and rose to 13,882 in 9 days since July 1.

The Chief Minister also appealed to all legislators of the ruling and opposition parties to give priority to contain the disease in their Assembly segments.

“Visit the COVID-19 designated hospitals and inspect if the required facilities are in place and bring any shortcomings to our notice,” the CM said