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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.

Mangaluru, Jan 15: The coastal city of Mangaluru witnessed a historic event as a sea of humanity converged at the Shah Gardan Maidan in Adyar-Kannur to register their protest against the Citizenship (Amendment) Act (CAA), National Register of Citizens (NRC) and National Population Register (NPR) besides the “categorical mistreatment” of Muslim community at the hands of the police across the country including in Mangaluru.

The protest is jointly being organised by the various Muslim organisations of Dakshina Kannada and Udupi district under the leadership of Muslim Central Committee. 

The main staged is named after Shaheed Jaleel Kudroli and Shaheed Nausheen, who were ruthlessly gunned down by the police during a chaos that erupted on December 19 in the city due to police batten charge against people during a minor protest against NRC. 

Even thought the police had banned public transport and blocked the highway to reduce the number of protesters, around one-and-a-half lakh people had reached the venue when the historic meeting commenced at 2:30 p.m. By 4 p.m. the number of protesters crossed 2 lakh, according to the organisers.

Both sides of the highway were filled with those who came to witness the rally and traffic went haywire along a five-kilometre stretch of the road. The people who took part in the rally were seen waving national flags.

The protest rally was inaugurated by Udupi Khazi Bekal Ibrahim Musliyar. Dua was offered by Dakshina Kannada Khazi Twaka Ahmed Musliyar. 

Addressing the protesters, former IAS officer and activist Kannan Gopinathan alleged that the Centre wants to create fear among all sections of people and silence them. Society began to protest when the government crossed the limits and put curbs on democratic freedom, he claimed.

The Centre thought that they can get away with CAA and NRC. However, people have realised the truth and have started coming out onto the streets, Gopinathan added.

Activist Harsh Mander said the theme of the protest against the CAA and NRC is "national flag in one hand, Constitution is another and people will march forward with love in their hearts”.

“The fight against NRC is the fight for the protection of our Constitution. The BJP is using NRC as a weapon to divide the people after Article 370 and Ram Mandir construction," he said and warned the Centre: “The more you try to divide us, the stronger and united we’ll be”

Human rights activist Shivasundar said the "chowkidar" appointed by the people is now asking them whether they are the real owners of their houses.

The BJP only delivered hollow promises which is evident from the rising unemployment, fall in GDP, farmers suicides and the economic slowdown, he alleged.

MLA UT Khader, MLC BM Farooq, former MLA Mohiyuddin Bava, Muslim central committee president KS Mohammed Masood, Ullal Qazi Fazal Koyamma Tangal, Dakshina Kannada district Wakf committee president UK Monu Kanachur, Sunni Youth Federation state general secretary Abdul Rashid Zaini and Karnataka Samastha Mushavara state secretary UK Abdul Aziz Darimi were present among others.

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Mangaluru, May 7: Thousands of migrant workers from Uttar Pradesh and Bihar, led by Congress leader Mithun Rai, staged a protest here on Wednesday demanding that they be allowed to return to their native places.

The workers started a protest demonstration opposite Mangaluru City Corporation office in the city. Police dispersed the crowd for violating social distancing norms.

The workers said they have nowhere to go and nothing to eat. Therefore, they are demanding to be sent back to their states. They however, had crowded together without following the social distance norm. 

In the wake of protest, prohibitory orders under section 144(3) were imposed in Dakshina Kannada district between 7pm and 7 am till May 17 to check the spread of Covid-19.