Cops raid slaughterhouse; arrest 3; seize 3 cows, 200kg meat, 3 vehicles

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.

Mangaluru, Jan 2: Shwetha Rasquinha, Assistant Professor and Head of the Department of Social Work, St Aloysius College, Mangaluru, has been awarded Doctor of Philosophy (PhD) degree by the Mangalore University for her thesis titled “Effectiveness of Social work intervention on caretakers of cancer patients- A social work study in Mangalore”.

She did her studies under the guidance of Dr Rameela Shekhar, Professor (Rtd), School of Social work, Roshni Nilaya, Mangaluru.

Ms Shwetha Rasquinha hails from Vittal, D/o Vincent Rasquinha and Late Regina Rasquinha, and is the second person to complete doctoral studies from the Vittal Parish.

Her colleagues and well-wishers have congratulated her for her highest achievement in academics and successful completion of quality research.

Udupi, June 26: BJP leader K Raghavendra Kini has been appointed as the new Chairman of Udupi Urban Development Authority (UUDA) by Government of Karnataka.

A well-known businessman, Raghavendra Kini is also serving as the president of Kunjibettu Consumers’ Multipurpose Co-operative Union.

Along with him, the State Government has appointed Suma Naika, Praveen Kumar Shetty and Kishor Kumar as members of the Authority.