All-women post office inaugurated in Kalaburagi

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.

Madikeri, Jan 4: Two girls were seriously injured after a wild elephant attacked them on their way back to home near Injilagere here, Forest officials said on Saturday.

The officials said that Nityashree of class four, along with her younger sister Yuvashree of class two, were on their way back home from Government Primary School. The students are the daughters of Mani, resident of School estate line house in Puliyeri village.

Mangaluru, Jun 23: An elderly person, who was undergoing treatment for covid-19 in Mangaluru, breathed his last on today. 

The victim, identified by number P-6282, was a 70-year-old man. He had returned from Bengaluru on June 7. 

He was suffering asthma and pneumonia. He had Severe Acute Respiratory Infection (SARI) symptoms and was hence admitted to the designated covid-19 hospital in Mangaluru on June 12. 

His condition continued to worsen and today he breathed his last, sources said.

With this the total number the deaths of covid-19 patients in Dakshina Kannada district mounted to 9.