Shocking: Both the victims of police firing named in FIR

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.

Benglauru, May 25: Nearly one thousand people in the capital city of Karnataka have lost several crores of rupees to online fraudsters during the two months of covid-19 lockdown.

According to official sources, 962 cases of online frauds have been registered in various police stations across Bengaluru March 23 to May 19. 

On an average, 18 cases were reported every day. However, this number isn’t unusually high compared to normal times, according to police. The highest number of cases was registered in west division (227). 

What baffles the cops is the brazenness with which fraudsters attacked. Many fraudsters duped people in the name of providing jobs, insurance money, Employees’ Provident Fund, renewal of credit/debit cards. 
Many people lost money while procuring groceries, alcohol, masks and hand sanitisers delivered at the doorstep. Olx and Facebook scams thrived during the prolonged lockdown. 

Police said malicious links were shared on mobile phones asking recipients to download the Aarogya Setu app and seeking banking information, all targeted at stealing phone data. 

An officer said many were glued to their phones, and cybercriminals took advantage of this, sometimes pretending to be bank representatives wanting to issue/ renew credit/debit cards.

Kasaragod, Apr 17: Even as this district continue to remain in the high-alert red zone category of Covid-19, Kasaragod has slowly but steadily been limping back to restraint level of the pandemic from a possible slipping into a stage-3 of community spread early this month.

Thanks to the stringent and committed measures implemented by the district administration crisscross the district besides total isolation of few localities by enforcing triple lockdown.

The district had been a Covid-19 hotspot ever since an NRI who returned from the Gulf violated quarantine protocol and travelled wide and far by meeting and contacting with several people including two MLAs of the district. That apart the irresponsible attitude of the people who broke the rules of quarantine and lockdown norms also made things go from bad to worse resulting in contributing for a near-half of the total positive cases in the state at the beginning of April.