Mangaluru: Students protest after finding dead rats, cats in college well

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, Jul 24: Karnataka Government on Friday issued an order regarding the refixation of rates for RT-PCR testing and Rapid Antigen testing for private laboratories in view of the COVID-19 pandemic.

The state induced Task Force Committee has revised the rate of RT-PCR testing to cost Rs 2,000 per test and Rapid Antigen testing for private samples to cost Rs 700 per sample.

Ceiling rate for private samples in private laboratories including screening test and confirmatory test is Rs 3,000 per test, read the order

The cost is inclusive of the price of Personal protective equipment (PPE) kit, stated the government in the order.

Karnataka has reported 5,007 new COVID-19 positive cases and 110 deaths on Friday.

The total number of cases stands at 85,870 including 52,791 active cases and 1,724 deaths, added the state Government.

Mangaluru, May 31: A yellow alert has been sounded in eight districts of Karnataka, amidst the Indian Meteorological Department’s (IMD) prediction that the low pressure area formed over Arabian Sea and Lakshadweep may to intensify further into a cyclonic storm.

The yellow has been sounded in Dakshina Kannada, Udupi, Uttara Kannada, Chikkamagaluru, Kodagu, Hassan, Shivamogga and Chamarajanagara till June 1.

Moderate to heavy rain is expected to lash parts of coastal Karnataka today and tomorrow. 

The IMD has assessed that the situation is favourable for the onset of southwest monsoon. In view of the enhanced cloud cover and the deepening of southwesterly winds up to mid tropospheric levels, the southwest monsoon advanced further.

The IMD has also advised fishermen to avoid fishing in west coast of India from May 31 to June 4.