BJP controlling a section of media; playing negative politics: Gundu Rao

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, Apr 5: Fake news spreads faster and more easily nowadays through the internet, social media and instant messaging and such news about the COVID-19 pandemic have been labeled a dangerous “infodemic”.

These messages may contain useless, incorrect or even harmful information and advice, which can hamper the public health response and add to social disorder and division.

Asking people to avoid fake news on COVID-19, Hemant Nimbalkar IPS, IGP and Additional Commissioner of Police (Administration), shared a photo on his Twitter page and wrote, “One Mask For Ear Too"

Bengaluru, Mar 23: Karnataka Health Minister B Sriramalu on Monday confirmed that there are 27 positive coronavirus cases in the state so far.

A fresh COVID-19 positive case has been reported from Mysore today.

"One hospital in every district is dedicated to COVID-19 treatment. We have placed an order for 1000 ventilators. We have also ordered 10 lakh N90 mask, five lakh PPE testing kits, 15 lakh three-layer masks. Sanitizers and thermal scanners will also be purchased on-demand," said Sriramalu while addressing a press conference here.

The Karnataka Health Minister said that decision will also be taken to purchase lab testing kits and equipment.

Meanwhile, Dr Ashwath Marayan, Deputy Chief Minister, Karnataka said that all necessary measures are being taken to contain the spread of COVID-19.

"We will take important decisions as soon as possible. 80 per cent of the companies are following work from home. Critical and essential things should be provided in this situation and we have kept them available to serve the people," said Marayan.

"We have taken all the required decisions including the logistics and supply. Social distancing is much important and we will implement it," he added.

The total number of positive coronavirus cases in the country mounts at 415, according to the Indian Council of Medical Research (ICMR).