PAN a must for excise, service taxpayers for GST registration

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, Apr 19: The covid-19 being spread by the novel coronavirus has claimed a life in the coastal district of Dakshina Kannada.  

The victim, a 50-year-old woman from Bantwal taluk, breathed her last at Wenlock Hospital today morning. 

She was rushed to a private hospital yesterday after she developed breathing problems. Then she was shifted to Wenlock Hospital's block for suspected coronavirus patients, and placed in the intensive care unit (ICU).

Her throat swab was collected the same day and sent for testing for coronavirus. However, today morning her condition worsened and she passed away.

The report was received on later on Sunday afternoon, which confirmed that she had contracted coronavirus.

The woman's family members including her husband, son and mother-in-law have been placed under quarantine. It is learnt that her mother-in-law's condition is serious and she has been admitted to the ICU.

The throat swabs of all the three family members have been sent for coronavirus test. According to sources, the woman's son had come from Dubai recently.

Meanwhile, a 30-year-old woman from Uppinangady, who is undergoing treatment in a hospital, today tested positive for the covid-19.

With the confirmation of two new cases, the total number of reported covid-19 cases in Dakshina Kannada reached 15. Out of which only two case are currently active and 12 have been discharged. Another one passed away.

Ernakulam, May 25: Miscreants belonging to self-proclaimed Hindutva outfits have demolished a church set erected for the shoot of a Malayalam film at Kalady in Kerala’s Ernakulam district.

The set was erected to shoot the climax scene of the super hero film Minnal Murali, directed by Basil Joseph and starring Tovino Thomas and newcomer actor Femina.

The incident took place on Sunday. Members of the Antharashtra Hindu Parishad claimed that with the help of their sister outfit Antarashtra Bajrang Dal, they demolished the church set, erected on an island on the Periyar river in Kalady.

Hari Palode, the General Secretary of AHP, an organisation founded by Praveen Togadia, boasted on Facebook that they were not used to pleading to anyone, and decided to demolish the church set that was constructed near the Adi Sankaracharya mutt. 

“When they built such a structure in front of the Mahadeva shrine in Kalady, we said no. We had also submitted several complaints. We do not have the habit of pleading. We decided to demolish it. Our self respect must be protected at all cost,” AHP’s General Secretary Hari Palode wrote on his Facebook post along with pictures of members demolishing the set. 

The post also credited members of the Anrarashtra Bajrang Dal and its Ernakulam Division President Malayatoor Ratheesh for participating in the ‘service work’ of razing the church set. 

Mini Biju, member of Kalady Town panchayat confirmed that the film unit had indeed secured permission from the department before going ahead with the construction of the set.

“They had submitted a letter seeking permission to raise a temporary set. This was back in February before construction began. The panchayat committee had approved this request,” Mini said.