Two get bail in Moodbidri Bajrang Dal leader murder 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.

Mangaluru, June 16: A youth has been arrested by the sleuths of Ullal police station on charge of sexually assaulting a minor girl and impregnating her on the outskirts of the city. 

The arrested has been identified as Lavakumar alias Shravan, a resident of Valacchil, who was working in a fast-food outlet at Thokkottu. 

According to the police, the accused had sexually assaulted his owner’s minor daughter. The incident came to light when the girl’s mother came to know that former was pregnant.

It is said that the girl’s mother, who had employed the accused, allowed him to stay in their house. The accused befriended the minor girl and sexually used her.

Based on a complaint filed by the girl’s mother, a case was registered at Ullal police station under Pocso Act. The police arrested him yesterday and produced him before a local court.