Deluge in Dakshina Kannada as overflowing rivers submerge bridges, roads

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.

Ballari, Jan 5: Thousands of Muslims, joined by the members of various organisations, on Saturday staged a massive protest in the town condemning the provocative speech by Bellary MLA G Somashekar Reddy.

The police caned the agitators after they tried to lay siege to the house of BJP legislator.

The protesters holding national flag took out a rally from Kaul Bazaar, which passed through the major streets, and culminated at Gadagi Channappa Circle. They raised slogans against the BJP and burnt the effigy of Somashekar Reddy.

The protest sent the traffic haywire Gadagi Channappa Circle and the cascading effect of it was seen across the town. SP C K Babu told the agitators that the MLA has been booked for making provocative speech and pleaded them to hold a protest at Municipal College grounds. But the agitators were in no mood to relent.

Inspector General (Bellary Range) I G Nanjundaswamy has rushed to the town to oversee security. The BJP MLA on Friday made inciting remarks against minorities during his speech at a pro-CAA rally in the town.

FIR against Reddy

The Gandhinagar police in the town on Saturday registered an FIR against MLA Somashekar Reddy, for making a provocative speech, under IPC Sections 153 A (promoting enmity between two religions), 295A (insulting religious beliefs) and 505B.

During his speech at a pro-CAA rally on Friday, Reddy had said, "Hindus are 80% of the population while minorities are 17%. What will happen to you if we hit back? Hence, you should be very careful about your moves and steps."

The legislator came down heavily on those staging protests against CAA in Ballari. "We won't keep quiet if another protest is staged against the CAA. Each Hindu is like Shivaji. Nobody will be alive if all Hindus come out to streets holding swords," he had said.

Bengaluru, July 17: The government of Karnataka has decided to issue caste and income certificates to Brahmins in the state to reduce the socio-economic inequality faced by the community.

“A notification has been issued to tehsildars in all 30 districts to issue caste and income certificates to Brahmins so that they can also benefit from the government schemes and scholarships,” a Revenue Department official told said.

The notification comes a month after the Karnataka State Brahmin Development Board on June 10 appealed to Chief Minister B.S. Yediyurappa to issue the certificates to the traditionally dominant community, which accounts for 3 per cent of the 7 crore state population.

“Though Brahmins are in ‘minority’ in terms of their population across the state, they need caste and income certificates to benefit from the welfare schemes meant for the economic weaker sections such as SC, ST and OBC groups,” the official said.

The board was set up in March 2019 as a state-run company with Rs 5 crore authorised capital and Rs 5 crore equity and is registered with the Registrar of Companies.

The notification was issued to the local bodies and taluk offices after several members of the community complained to state Revenue Minister R. Ashoka that they were unable to benefit from the welfare schemes in the absence of the certificates.

The certificates will also help students from the community to avail scholarships for higher studies from the state-funded board if their gross annual family income is less than Rs 8 lakh per year.

The board has also urged the state government to implement the 10 per cent quota for its community members under the economically weaker sections, as applicable for Central government jobs and admissions to central institutions.

Noting that every community has people who are forward and backward economically for various reasons, including historical, the official said the board would be empowered to serve the Brahmins.

“The board will provide interest-free loans to the financially weaker sections of the community,” said its Chairman H.S. Sachidananda Murthy.