Make Kannada medium mandatory for all till class 8: Nissar Ahmed

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.

Dubai, Jun 9: A young NRI engineer in Dubai, who supported his pregnant spouse to file a plea in the Supreme Court of India for early repatriation from the UAE amid the coronavirus lockdown passed away in his sleep of suspected cardiac arrest.

The deceased identified as Nithin Chandran (28) and his wife Athira Geetha Sreedharan (27) had hit headlines in the past after the latter filed a writ petition seeking assistance to be repatriated to India, following the suspension of flights to the country, as she was due for the delivery of their first baby in the first week of July.

Chandran, a mechanical engineer was working at a construction firm in Dubai. According to the reports, he had stayed back in UAE after sending his wife home on the first day of repatriation from Dubai on May 7 under the Vande Bharat Mission.

The deceased was receiving the treatment for high blood pressure and a heart condition and is suspected to have died of a heart attack while asleep, his friend said. However, the exact cause of his death is yet to be known.

Bengaluru, May 18: Karnataka Chief Minister BS Yediyurappa on Monday said that people from Gujarat, Maharashtra, Kerala and Tamil Nadu will not be allowed in the state till May 31.

"We have decided not to allow entry of people from Gujarat, Maharashtra, Kerala and Tamil Nadu till May 31," Yediyurappa said after a meeting with state ministers and senior government officers to discuss the guidelines issued by the Centre regarding the fourth phase of nationwide lockdown.

"State road transport corporation buses in Karnataka and private buses will run. Strict lockdown measures in containment zones and economic activities will be permitted in other areas. Sundays will be total lockdown across the state. Home quarantine will be strengthened," he added.

The Chief Minister further said that all shops will be allowed to open and all trains running within the state will be permitted.

The central government on Sunday extended the ongoing COVID-19 induced nationwide lockdown till May 31, but with a set of new relaxations commencing from Monday. The Union Home Ministry has also given powers to States/UTs demarcate areas in Green, Orange and Red zones, which will allow them to start activities except in containment zones.

According to the guidelines, "all other activities will be permitted except those which are specifically prohibited under these guidelines. However, in containment zones, only essential activities shall be allowed, as mentioned earlier."