Sunny Leone’s Bengaluru show passes off peacefully as Kannada outfit backs off

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.

Newsroom, Jun 16: A 35-year-old Kannada lecturer died in a motorbike accident at Tumkuru in Karnataka.

The deceased is K N Swamy, who was a guest lecturer in Department of Kannada at Central University of Kerala located at Periya in Kasaragod district.

The accident occurred on Sunday afternoon when he was riding his motorbike.

Swamy was also a writer and poet in Kannada.

Bengaluru, Apr 5: An elderly couple from Bengaluru

with a travel history to Dubai joined the list of coronavirus patients in the state, taking the total number of cases to 146, the health department said on Sunday.

The list includes four deaths and 11 discharges.

The 68-year old man and his 62-year old wife, hailing from Madiwala in the city, had returned from Dubai on March 22.

They were quarantined at a private hospital and have been asymptomatic.

Meanwhile, the government appealed to people who had attended the Tablighi Jamaat Congregation in New Delhi to contact 080-29711171 Arogya Sahayavani, the medical helpline number.