Section 144 imposed in Bengaluru after BJP-Cong workers clash

Mangaluru, Feb 29: The state general assembly (SGA) of Karnataka unit of the Popular Front of India was held from February 27 to 29, 2020 at Puttur in Dakshina Kannada district wherein new functionaries were elected for the next two years.

Yasir Hasan was elected president of the state unit of the organisation while Nasir Pasha was elected general secretary. Ayub K Agnady, Mohammed Sharief and Shahid Nasir were elected vice president, secretary and treasurer respectively.

The state executive committee members are: Abdul Khader, Abdul Majeed, Sharief Kodaje and Mohammed Tafseer.

The SAG commenced with the hoisting of flag by outgoing president Muhammad Saqib on February 27. The three day meeting analyzed the growth and activities of the PFI for the past two years. It was observed that the organization has received positive acceptance among the society.

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.

Udupi, Feb 11: In a tragic incident, a 62-year-old man from Chennai died of drowning in Sri Krishna Mutt’s Madhwa Sarovar (pond) during the wee hours of Tuesday.

Police said the deceased has been identified as Capt G Sridharan.

It is suspected that Sridharan accidentally fell into the holy pond while taking a bath. The incident is said to have occurred around 4 a.m.