BJP is a party of jokers and heroines: Ramalinga Reddy

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 21: The Karnataka Government may spare its employees from salary cuts this month despite severe resources crunch it faces following steep fall in revenue collection due to the ongoing lockdown to fight the coronavirus, official sources said on Tuesday.

As of now, there is no problem with April salary and we can manage. But if May also turns out to be a wash-out (in terms of revenue collection), then the situation is going to be very tough, a senior Minister said.

Ministers and members of Karnataka Legislature are taking a 30 per cent pay-cut for a year from April 1 this year. Opposition Congress in the state has vehemently opposed any possible move to cut salaries of government employees.

You just cant even imagine, the Chief Minister B S Yediyurappa had told news agency in an interview earlier this month on the economic impact of the lock-down on the state's finances. Yediyurappa had also said that the government is now not in a position to implement Budget proposals, barring important ones, with all kinds of revenue collections having completely stopped following the lockdown.

The government recently said it proposes to regularise unauthorised properties in the state by imposing penalty, and also auction more than 12,000 corner sites belonging to the Bengaluru Development Authority, as part of resource mobilisation drive.

Bengaluru, Feb 5: The Karnataka government on Tuesday launched the Janasevaka scheme in a few municipal corporation wards to ensure home delivery of various services like ration cards, senior citizen identity and health cards.

The scheme, which was launched by Chief Minister B S Yediyurappa, will pertain to 53 services involving 11 departments.

"Janasevaka under the Sakala scheme is a programme to avail the benefits of government schemes at the doorstep. Our objective is to make the lives of the citizens of Karnataka easy by launching this scheme," the Chief Minister said. Sakala aims to ensure in-time delivery of government services to citizens by practising innovative and efficient management systems through capacity building in government and empowering citizens to exercise their right to service.

Minister for Sakala and Primary and Secondary Education S Suresh Kumar said: "The scheme that was implemented in Dasarahalli area on a pilot basis will now be extended to Mahadevapura, Bommanahalli and Rajajinagar areas."

He added that it will benefit the senior citizens of the city.

If the scheme works well, it will be implemented across Bengaluru in all the 27 assembly segments, Kumar said, adding that based on the experiment in Bengaluru, it will be extended to Mysuru, Mangaluru and Hubballi-Dharwad.

Under the scheme, there will be one volunteer in each ward. These volunteers have been outsourced. A toll-free helpline has been set up for this scheme which will work from 8 am to 8 pm.

A sum of Rs 115 will be charged to provide the home delivery services.

In addition to it, the Karnataka government has also decided to seek information under the RTI Act easy by making it online.

People can apply from home by paying the fee online. This will make the process hassle-free, the Chief Minister said.