Kargil martyrs Hasan Sab, Basappa Patil laid to rest in Karnataka

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, Jun 15: Kerala Chief Minister Pinarayi Vijayan''s daughter Veena married top DYFI All India president Mohammed Riaz at the chief minister''s official residence in the presence of selected guests.

Riaz and Veena became husband and wife at a solemn function held under Covid protocols with not more than 50 people present.

This was the second marriage for both, as their first ones ended in divorce.

Riaz has two children, while Veena has a son from their respective previous marriages.

Riaz is a lawyer by profession and had contested the Kozhikode Lok Sabha seat in 2009 but lost to the Congress'' M.K.Raghavan.

Veena runs her own software company in Bengaluru.

While the marriage has already been registered recently, the wedding event was a closed door affair, with just very close relatives of the couple besides a few senior party colleagues of Vijayan.

Bengaluru, Mar 23: Film producer, philanthropist and entrepreneur V K Mohan committed suicide by hanging himself in a hotel in the city on Monday, police said.

Mohan, who hailed from Kundapur Taluk, Udupi District, was a famous film producer and hotelier.

According to police, Mohan arrived at the hotel on Sunday night and when he did not open the door of his room on Monday, hotel staffs, grew suspicious and peeped through the room window, found him hanging.