Three NRI students killed in Sharjah car crash

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.

Byndoor, Jul 16: Byndoor Police Station in Kundapur taluk of Udupi District, has been sealed for the second time in a month, after three personnel including an ASI were tested positive for Covid-19 on Thursday.

All the three including a lady Home Guard have been admitted to the designated Covid Hospital.

Last month the Station was sealed after staff had tested positive.

New Delhi, May 12: Air India is planning to operate 149 repatriation flights to 31 countries between May 16 and May 22 during the second phase of the Vande Bharat mission to bring back home Indians stranded abroad amid the coronavirus-triggered lockdown, officials said. During the first phase of the Vande Bharat mission, Air India and its subsidiary Air India Express are scheduled to operate total 64 flights between May 7 and May 14 to bring approximately 15,000 Indians from 12 countries on a payment basis.

"In the second phase, Air India and Air India Express will operate 149 flights to countries such as the USA, the UAE, Canada, Saudi Arabia, the UK, Malaysia, Oman, Kazakhstan, Australia, Ukraine, Qatar and Indonesia," the airline officials stated.

Other countries to where the national carrier would operate flights between May 16 and May 22 are Russia, Philippines, France, Singapore, Ireland, Kyrgyzstan, Kuwait,

Japan, Georgia, Germany and Tajikistan, officials noted.
The flights during the second phase will also be operated to Bahrain, Armenia, Thailand, Italy, Nepal, Belarus, Nigeria and Bangladesh, they mentioned.

India has been under lockdown since March 25 to curb the spread of the novel coronavirus, which has infected more than 70,000 people and killed around 2,290 people in the country till now. All scheduled commercial passenger flights have been suspended for the lockdown period.