Tablighi Jamaat spreading covid in Bengaluru slums, claims Shobha Kharandlaje

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, Feb 6: Chief Minister B S Yediyurappa inducted 10 BJP MLAs to his Cabinet here on Thursday. They are among the 17 Congress-JD(S) MLAs who defected last year.

The much-delayed expansion came almost two-months after the MLAs won the bypolls held in December. During the period, the defectors camp exerted pressure on Yediyurappa to expand the Cabinet and include all the MLAs who contested the bypolls.

The new ministers sworn in are S T Somashekar, Ramesh Jarkiholi, Byrati Basavaraj, K Gopalaiah, B C Patil, Dr K Sudhakar, Shivaram Hebbar, Anand Singh, Narayana Gowda and Shrimanth Patil.

One of the 11 MLAs from the defectors camp, Mahesh Kumathalli was not inducted as he hailed from the same constituency as Deputy Chief Minister Laxman Savadi. Three others, MTB Nagaraj, H Vishwanath and R Shankar are likely to be inducted in June.

Governor Vajubhai Bala administered oaths to the new ministers at Raj Bhavan, where hundreds of supporters came to witness the event. Authorities had also beefed up security arrangements outside Raj Bhavan for the ceremony.

Earlier, Yediyurappa was to induct 10 newly-elected MLAs and three old-timer BJP MLAs. But on Wednesday evening, the BJP's central leadership stepped in to decide that only 10 newly-elected MLAs should be inducted after disgruntlement surfaced among BJP MLAs over former minister C P Yogeeshwar's induction.

Several MLAs led by chief minister's political secretary MP Renukacharya had raised a hue and cry over allotting berths to those who lost Assembly polls. A group of 13 to 15 MLAs had also demanded adequate representation to Kalyana Karnataka region, alleging that the new Cabinet had excess representation from few districts of Karnataka, such as Bengaluru Urban and Belagavi.

Bengaluru, Jan 29: The Karnataka unit of BJP has urged the Centre and the State governments to ban the Popular Front of India (PFI) and the Social Democratic Party of India (SDPI), accusing them of harbouring terrorist tendencies.

Addressing a press meet, N Ravi Kumar, state general secretary of the party, alleged that there was a nexus between the Congress, the PFI and the SDPI.

“Recent reports have exposed the links between the PFI and the Congress,” he said, accusing Congress leader Kapil Sibal of receiving huge funds from PFI to defend their cases in the Supreme Court.

He also accused the organisations as the ones responsible for the death of 23 Hindu activists in Karnataka. Such incidents have proven that both SDPI and PFI are dubious organisations, he said.