Karnataka appeals to European Investment Bank to fund state projects

Bantwal, Jun 5: A very rare white python, which had entered a house at Kavalakatte in Bantwal taluk of Dakshina Kannada, was caught by snake catcher Snake Kiran on Friday handed over to the authorities of Pilikula Nisargadhama.

This extremely rare white coloured python known as Albino was seen in the house of one Naushad.

The occupants of the house as well as residents of the area were panicky over seeing it. 

Later a friend of Naushad informed Snake Kiran who caught it and handed over to the care of Pilikula as per the advice of forest officer Sridhar.

Mysuru, Jan 11: Accusing the Congress and other opposition parties of pursuing “vote bank politics” on the Citizenship (Amendment ) Act (CAA), Kannada littérateur and Saraswathi Samman awardee S L Byrappa accused the party of misleading the people on the issue.

Speaking to media persons here on Friday, Mr Bhyrappa said that Congress was adopting the divide and rule policy of the British, who had created a rift between the Hindus and the Muslims to break their unity during the freedom struggle.

Jun 6: Private sector lender Karnataka Bank has reported to the RBI that it has been defrauded of over Rs 285 crore consequent to loans gone bad to four entities including DHFL.

A total of Rs 285.52 crore has been reported as fraud wherein the bank was one of the consortium lenders during 2009 to 2014 to Dewan Housing Finance Corporation Ltd (DHFL), Religare Finvest, Fedders Electric and Engineering Ltd and Leel Electricals Ltd, Karnataka Bank said in a regulatory filing on Friday.

The maximum is owed by DHFL at Rs 180.13 crore, followed by Religare Finvest Rs 43.44 crore, Fedders Electric Rs 41.30 crore and Leel Electricals Rs 20.65 crore.

"DHFL (defaulted entity) dealing with us since 2014 had availed various credit facilities under consortium arrangement wherein, we were one of the member banks. In view of Early Warning Signals (EWS) in the conduct of the account and other developments, the account was red flagged on November 11, 2019.

"The borrowing account was classified as Non-Performing Asset on October 30, 2019 and now, for misappropriation & criminal breach of trust & diversion of funds in the credit facilities extended earlier to the company, a fraud amounting Rs 180.13 crore has been reported to RBI," Karnataka Bank said.

Likewise, Religare Finvest Ltd (RFL) was dealing with the bank since 2014, availing various credit facilities.

Following classification of this account as non-performing in October 2019 by a consortium member, Karnataka Bank reported to RBI a fraud amounting to Rs 43.44 crore in the credit facilities extended earlier, on account of diversion of funds.

Leel Electricals was classified as NPA account in March 2019 and it reported to RBI a fraud amounting to Rs 20.65 crore in the credit facilities to the company on account of diversion of funds.

"In all the referred three non-performing accounts, necessary provisions have been made in full to be spread across four quarters," it said.

Fedders Electric and Engineering Limited was reported as NPA in July 2018 by a member bank in consortium, subsequent to which Karnataka Bank reported fraud of Rs 41.30 crore on account of fund diversion.

The account has already been fully provided for, it added.