Class 1 girl dies after school bus knocks her down

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, Mar 11: Jyotiraditya Scindia has not betrayed the Congress, but he has been betrayed by the Congress and Kamal Nath, said on Wednesday Madhya Pradesh Congress MLAs who are camping here after tendering the resignations.

"It is not Jyotraditya Scindia who has betrayed. Instead, he has been betrayed by the Congress and Kamal Nath. Despite the fact that it was his hard work that enabled Congress to form the government in MP after 15 years, yet he was being sidelined. His people were sidelined," Mahendra Singh Sisodia was heard saying in a video.

Taking a veiled jibe at Chief Minister Nath, Sisodia said: "On one hand, you claim that treasury is empty and on the other, works worth Rs 12,000 crore is done in Chhindwara constituency. Are the rest of MLAs and ministers just killing time?"

He also warned other Congress MLAs that the party would be decimated in the state in the future.

"Did not the Congress trick people in MP? What happened to the farm loan waiver announced? When we go to our region, people ask us what happened to loan-waiver.
What happened to curb corruption, Vyapam? Whichever party Scindia joins, we will go with him," he said.

Former MP Minister Imarti Devi said that all 22 MLAs are in Bengaluru out of their own choice.

"All 22 MLAs are here (in Bengaluru) on their own will. We are happy Scindiaji has taken this decision. I will always stay with him even if I had to jump in a well. Kamal Nathji never heard us," she said.

Another leader dismissed talks of being in touch with anyone and said that they are happy with the decision of Scindia, who joined the BJP earlier today. He had resigned from the Congress on Tuesday.