Man killed in spat over dog barking during T20 match

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 10: Congress leader NA Haris on Tuesday said that keeping Jammu and Kashmir leaders under house arrest is not democratic.

Speaking to media persons he said, "It is not done. Keeping the leaders under house arrest in Jammu and Kashmir is not democratic."

Haris said that nobody is talking about it. Prime Minister Narendra Modi is not talking about it and nothing is happing.

"About Kashmir, it is better to say less as nobody is talking about it. Prime Minister Narendra Modi is not talking about it and nothing is happening. It does not look good," he told media.

"I think leaders should be brought to the table and discussion on issues should take place. Do whatever has to be done for the country," he added.

The Jammu and Kashmir Administration had on February 5 invoked the Public Safety Act (PSA) against former Chief Ministers Mehbooba Mufti and Omar Abdullah. The duo was detained after the Central government abrogated Article 370 last year.