Jamiyyatul Falah Riyadh hosts 'family motivation program'

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, Jun 22: Senior Congress leader BK Hariprasad and BJP’s MTB Nagaraj, one of the defectors who helped the saffron party come to power in Karnataka, were unanimously elected to the Legislative Council along with five others on Monday. 

All seven were declared as “duly elected” by Legislative Assembly Secretary MK Vishalakshi, the returning officer for the biennial election to the Legislative Council. 

Hariprasad and Naseer Ahmed of the Congress, Nagaraj, R Shankar, Prathap Simha Nayak and Sunil Vallyapur of the BJP and Govinda Raju of the JD(S) are now MLCs. 

While Ahmed was an incumbent who will get another term, the six others will replace Jayamma, MC Venugopal, NS Bore Raju, HM Revanna and TA Sharavana and DU Mallikarjuna whose term ends June 30. 

While an election was scheduled June 29, it was not necessary as only seven candidates were in the fray for the seven seats on Monday, which was the last date for withdrawal of nominations. The nominations of A Yadavanahalli PC Krishnegowda and Mandikkal Nagaraja were rejected. 

With their rejection as MLCs, Nagaraj and Shankar - who jumped ship to the BJP last year - will now look to become ministers in Chief Minister BS Yediyurappa’s Cabinet. Both Nagaraj and Shankar were ministers when they resigned and defected from the Congress-JD(S) coalition. While Nagaraj lost the December 2019 bypolls, Shankar did not contest. 

Nagaraj, Shankar and Vallyapure were Yediyurappa’s picks for the Council, whereas Nayak is said to have been backed by BJP state president Nalin Kumar Kateel. 

There were many aspirants in the Congress for the Council berths, but Hariprasad and Ahmed were picked, given their experience. Hariprasad is widely believed to counter Siddaramaiah, who leads the party in the Assembly. 

Raju of the JD(S) runs a poultry business in Kolar and the choice of a fresh face is seen as the party leadership steering clear of any trouble as there were many asking for the ticket. 

Bengaluru, Mar 30: Karnataka Chief Minister BS Yediyurappa on Monday appealed to people to strictly follow the restrictions in the state, saying that the ending of 21-day nationwide lockdown imposed to contain COVID-19 depends on how the public adheres to the rules.

In a press statement, Yediyurappa appealed to the people to help the government to prevent the spread of coronavirus by strictly following the lockdown.

"People of Karnataka are known for tolerance and patience. They are law-abiding citizens. Now, the lockdown in wake of coronavirus is a testing time for them. It has come to test the patience of our people, especially the people of Karnataka. Prime Minister Narendra Modi himself has apologized and said that lockdown was an inevitable step taken by the government to protect people from the pandemic. We have to realise the predicament of a prime minister who always cares for the well being of the country and its people," the statement quoted Yediyurappa as saying.

"At this hour of crisis, it is not good on our part to come out of houses and violate the curfew. The ending of lockdown depends on strictness with which one follows the curfew and maintain social distancing. If one follows the curfew strictly, the lockdown period will automatically end on April 14. Whether to end the lockdown or not is in your hands," he said.

The Chief Minister urged not to test the patience of police, saying, "Already our police are under stress as they are working without any rest. Do not force them to use the force and later blame them for stern action."

He also appealed to follow the lockdown provisions and stay back in their home.
"The government has taken all measures to maintain the supply of essentials and food to the needy. Consider this situation as a blessing in disguise and spend your valuable time reading books which in turn will boost your knowledge and intellectual capacity. My earnest request to even the poor is spending your time by involving yourselves in creative activities inside your houses," Yediyurappa said.

"At the same time, it is time for us to respect the sacrificing work of the doctors, nurses, health staff and civic workers who are working round the clock to save the lives of hundreds of people affected by coronavirus. My appeal to you all strictly follows the curfew rules and maintains the social distance to combat COVID-19," he added.