Ab Ki Baar, BJP Sarkar in Karnataka: Amit Shah

Mangalore, Jan 15: In one of the biggest seizure of gold in the new decade, Directorate of Revenue Intelligence (DRI) sleuths here have seized five kg of gold valued at Rs two Crore from the Air Cargo Complex at International Airport here recently.

Acting on a tip-off the officers of Directorate of Revenue Intelligence (DRI) Bangalore and Mangalore in a co-ordinated effort unraveled a unique modus of smuggling of gold through Air Cargo Complex, at old airport, Bajpe Mangalore two days back, According to release issued here on Tuesday evening.

The smuggled gold was concealed in five metal sprockets which were imported by M/s Swaroop Mineral Pvt Ltd of Udupi in the name of “mining conveyor drive chain”.

Mangaluru, Jan 18: ‘Ride For Rotary’ convoy of motor vehicles will be flagged off from Hotel Ocean Pearl Inn at Bejai-Kapikad, Mangaluru on 19th January, 2020 at 8.30 a.m.

Mangaluru has been chosen as the starting point for the convoy route this year which will cover Kerala, Karnataka and Tamil Nadu. 38 Rotarians from 14 countries are participating in 2019-20 Ride For Rotary, which is the fourth edition of the event. They will traverse through Madikeri, Mysore, Wayanad, Ooty, Coimbatore, Munnar, Thekkady and Allepey before terminating at Kochi on 29th of January, 2020.

2019-20 Ride For Rotary includes 28 motorbikes and 5 cars. The participating nationalities are India, Norway, Sweden, Canada, France, Germany, USA, UK, Switzerland, Austria, Denmark, Poland and Belgium. They belong to ages 21 to 78, with 78-year old Otto Rieve from Canada being the senior most enthusiast. Swiss national of Indian origin Raj Patholi and Mangalorean Abraham Zacharias are among the riders. Delegates who have already reached Mangalore visited Bantwal on Friday to attend a gala dinner hosted by the Rotary Club of Bantwal.

Ride for Rotary is a charity event conceived by Rotary District 3181 which comprises of the revenue districts of Mysore, Kodagu, Dakshina Kannada and Chamarajanagar covering 85 Rotary Clubs in 9 zones. Rotarians from across the world will come together for twelve exhilarating days. They will traverse through the meticulously arranged routes, enjoy the natural beauty of the places and experience the varied cultures and cuisines of the region. Ride for Rotary connects people and places like no other - Rotary Connects the World.

The proceeds from the event go to The Rotary Foundation, a charitable organisation that works tirelessly for the upliftment of the society.

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.