Eshwarappa demands ban on PFI

Bengaluru, Jan 21: Braving the biting cold, chief minister BS Yediyurappa took time out of his busy schedule to go around Davos on Monday.

Clad in a long coat over a suit, scarf and leather gloves, Yediyurappa, with secretary S Selvakumar in tow, took in the sights of well-laid bylanes, quaint houses and snow-covered pine trees. He also rode a cable car at Persenn.

A cook from Andhra Pradesh, who works at an Indian restaurant in Davos, served the CM shavige uppittu and khara pongal for breakfast. Yediyurappa had chapatis and rice for dinner.

Meanwhile, Karnataka is likely to have a ‘Centre for Internet of Ethical Things’, perhaps, the world’s first, which will seek to ensure ethical practices in trade and businesses, besides addressing issues like misuse of artificial intelligence, a concern that has been bothering business leaders across the globe.

At the World Economic Forum in Davos, Yediyurappa signed an informal agreement with Murat Sonmez, the forum’s managing director, on Monday. "Investors around the globe are worried about unethical practices in business and a centre is the need of the hour," Sonmez was quoted as saying in a press release. "If the Karnataka government is serious about securing investment, it should set up the centre immediately."

Yediyurappa immediately responded to the suggestion by prompting Sonmez to write down an informal agreement on a sheet of paper which both signed. "This centre will go a long way in Karnataka’s history of industrial development," Sonmez was quoted as saying in a release by the Karnataka delegation.

At the inauguration of Karnataka’s pavilion, Yediyurappa promised all support to investors. "We are happy to be here and look forward to engage you on various development agenda," he said adding that he was keen to partner on certain strategic research that can help Karnataka become a major player on the global stage. "With Karnataka emerging as a leading industrial state in India, we can make it a major player on the global stage," he said.

Industries minister Jagadish Shettar, chief secretary TM Vijaya Bhasker and industries secretary Ramana Reddy were also signatories to the informal agreement.

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 18: Congress leader Siddaramaiah targeted Union Home Minister Amit Shah soon after he arrived in Bengaluru on Saturday, demanding his answers on various questions pertaining to the state.

In a slew of tweets under the #AnswerMadiShah banner, Siddaramaiah raised issues ranging from the August 2019 floods to the recent police shootout in Mangaluru that killed two people during an anti-CAA protest.

On December 19, Jaleel (45) and Nausheen (24) were killed after the police opened fire during a protest against the CAA.

“Two innocent victims were killed in Mangaluru in what public opinion says that it is a fake encounter. You are the Home Minister of the country. Don't you think adequate investigation has to take place when people cry foul about the incident?” Siddaramaiah asked.

He further asked: “Mr Amit Shah, before investing time to brainwash people to accept your divisive policies, why don't you visit flood-affected areas again and assess if the Central government funds  are sufficient or not?”

The Congress leader pointed out that Chief Minister BS Yediyurappa had claimed that Karnataka suffered losses of over Rs 35,000 crore due to the floods. “But your aid is just Rs 1,870 crore. When are you planning to give the remaining? Will there be any funds left after the implementation of CAA, NPR & NRC?” he added.

The former chief minister brought up the Mahadayi river water sharing dispute. It may be recalled that Shah, in the run-up to the Karnataka Assembly elections in 2018, had promised a resolution to the dispute within six months if BJP was voted to power in the state.

“Mr. Amit Shah, your colleagues give contradictory statements on the initiation of Mahadayi project. Why is there a change in stance after elections? What is your stand on the issue,” Siddaramaiah asked.