Harekala Hajabba, the orange seller who set up school for underprivileged, chosen for Padma Shri 2020

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, Feb 14: BJP leader and Karnataka Revenue Minister R Ashok refused to comment on the Bellary car accident case, allegedly involving his son, saying that the matter was still under investigation and that they did not have anything to do with the said car.

The car crash took place on February 10, when a speeding red Mercedes Benz allegedly driven by Ashok's son rammed into a tea stall by the roadside killing two people. While a 16-year-old boy Ravi died on the spot, one of the car's passengers was also killed in the accident.

"I came to know about the incident and also heard that two people have died and a few others have sustained injuries. Everybody is equal under the law. It is not fair to comment as a minister when the case is being investigated," Ashok told reporters here on Thursday.

However, the minister avoided answering questions about his son's presence in the car and said that they had "no connection" with the car.

"The case is in the investigation stage, I don't want to comment on anything. My son's name is not present in the FIR. We have no connection with the car," he said.

Superintendent of Police CK Baba told reporters that Ashok's son was not present in the car.

"There was no senior BJP leader and Revenue Ministers's son in the car. We will not hide anything and the case will be investigated," Baba said.

Bengaluru, Mar 15: The civic body in Bengaluru has said that gathering at marriage functions should not exceed 100 people in order to curb the spread of coronavirus.

A circular issued by Bruhat Bengaluru Mahanagara Palike (BBMP) dated March 15 said, "All marriage functions pre booked in marriage halls, hotels, Party places, etc. prior to the issue of circular dated March 13, shall be allowed to be conducted subject to the condition that the gathering in the function not exceeding 100 persons."

"The above relaxation is an exception in consideration of the difficulties in rescheduling and cancelling the Marriage event immediately," the circular said.

It said, "The Owners/Management of such locations where Marriages are to be solemnized due to pre booking shall maintain high standards of sanitation and hygiene by periodically cleaning by 10 per cent Sodium Hydrochlorite Solution or any other effective disinfectant the surfaces, floors and exposed areas likely to be touched by the attendants."

"Any person attending the function having any such symptoms like Cough, Cold, and Fever etc. shall be requested for immediately leaving the Programmes," it said.

The civic body further said in the circular, "No fresh bookings of any place for Marriage programme are permitted till further orders. Any bookings on future dates by any organizer, event manager, owner of such property or any other person will be at his own risk and action will be taken against the property or any other person for any kind of bookings before an Order allowing such bookings is issued by a Competent Authority."

"The restrictions imposed are in the absolute interest of Public Health for preventing the Community Spread and outbreak of the disease at mass scale. All other restrictions imposed by order dated March 13 shall stand the same," the Circular added.