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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.

Thiruvananthapuram, Jan 1: Kerala chief minister Pinarayi Vijayan on Wednesday said that the resolution passed by the Kerala Assembly is against the "unconstitutional Act passed by the Centre".

"The resolution passed by Kerala Assembly is against the unconstitutional Act passed by the Centre. It has been noticed by the whole country," Vijayan said.

The Kerala Assembly had on Tuesday passed a resolution seeking withdrawal of the Citizenship (Amendment) Act, 2019.

Before the resolution was passed against the Act, Vijayan in a special Assembly session targeted RSS and said that citizenship law is part of an agenda.

"The CAA is part of an agenda. Muslims are being considered as internal enemies by RSS, who is controlling the ruling dispensation at the Centre," he alleged.

The new law grants citizenship to Hindus, Sikhs, Jains, Parsis, Buddhists and Christians fleeing religious persecution in Pakistan, Afghanistan and Bangladesh who came to India on or before December 31, 2014.

Meanwhile, on Wednesday while talking about women safety, the Chief Minister said, "Those women, who are traveling face many problems, particularly regarding accommodation. To address this, government will start accommodation facilities in all towns. This project will be implemented with the help of local bodies."

Reacting to the development in the Kerala Assembly, BJP leader Mukhtar Abbas Naqvi said that Assembly has insulted the Constitution and parliament by passing a resolution seeking withdrawal of the Citizenship Amendment Act (CAA).

"The Constitution has delineated clearly the roles of parliament and state legislatures. When people who have taken an oath of the constitution, destroy it, it is a most irresponsible act. Both the houses of parliament have passed CAA and if a state assembly tries to hijack the Act it is an insult not only of the constitution but the parliament as well," Naqvi told news agency.

Thiruvananthapuram, Mar 29: Twenty more people were

detected with coronavirus in Kerala on Saturday, taking the total number of those undergoing treatment for the deadly infection to 181, Health Minister K K Shailaja said.

While Kannur reported eight cases, Kasaragod 7, Thiruvananthapuram, Ernkulam, Thrissur, Palakad and Malappuram reported one case each, Shailaja said in a statement here.

Of the 20 people, 18 had come from abroad and two others had been infected through contact.

The man found positive here was in the isolation ICU of the Thiruvananthapuram Medical College hospital, while one positive case from Ernakulam was a health worker.

The samples of four persons who were under treatment at Pathnamthitta were found negative.

At least, 1,41,211 people are under observation across the state, the Minister addd.