PFI demands implementation of HC order in Muzaffarnagar riot case

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.

Shimoga, May 10: Karnataka Chief Minister B S Yediyurappa was all praise for a nine-month pregnant nurse, who is still attending to work at a Covid-dedicated hospital in the state, braving all odds in the wake of novel coronavirus pandemic.

Roopa, a resident of Gajanur, works at the Sri Jayachamarajendra Taluk Hospital in Tirthahalli.

The Chief Minister called the nurse up and admired her sense of duty after he came to know that she has been turning up at the hospital despite being in the advanced stage of pregnancy.

New Delhi, Mar 20: An official of South Western Railway has been suspended for "hiding" her son, who returned from Germany and later tested positive for coronavirus.

The youth has been hiding at a railway guest house in Bengaluru, officials said on Friday.

"She (the railway official) not only failed to inform authorities about her son's return from Germany, but also endangered the lives of others by lodging him in a railway rest house near the main Bangalore railway station," railway spokesperson E Vijaya said.

The Assistant Personnel Officer (Traffic) has been suspended, Vijaya said.

The 25-year-old man, who came from Germany via Spain and was instructed to be in home quarantine after he landed at the Kempegowda International Airport in Bengaluru on March 13, later tested positive for Covid-19 on March 18.

"She virtually hid her son to protect her family but endangered all of us," a South Western Railway official said.