Umrah-bound young NRI techie from Mangaluru killed in Saudi road 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.

Udupi, Jan 17: Six fishermen were rescued by members of another fishing boat after their boat capsized off Gangolli coast in the District recently.

Police on Friday said that the fishing boat, belonging to Jayalakshmi of Kodi Kanyana, had set sail from Malpe towards Gangolli on the night of January 12. On Wednesday (Jan 15) the vessel’s hull got damaged and water began gushing in.

Bengaluru, May 30: Bengaluru City civic body Bruhat Bengaluru Mahanagara Palike (BBMP) has slapped a fine of Rs 50,000 on the food delivery startup Swiggy for irresponsible disposal of waste, an official said on Friday.

"Thinking of food is great - Swiggy. Hope you also think of segregating waste and disposing of it responsibly," tweeted BBMP Solid Waste Management Special Commissioner D. Randeep.

Randeep said a penalty of Rs 50,000 was imposed on Swiggy Kitchen at Katriguppe in the city for the violation.

"The incident with respect to waste segregation has been brought to our notice and happened at one of our kitchens in Bengaluru," confirmed a Swiggy spokesperson to IANS without revealing the exact details.

He said the startup is aware of its civic responsibility and has stringent processes to ensure high standards of compliance.

"While we investigate and rectify the root cause of the matter, we are reinforcing necessary awareness on the best practices to be followed amongst our teams and partner network to ensure complete compliance with waste management," the spokesperson added.

Swiggy has been penalised earlier as well for its irresponsible disposal of waste.

Recently, the BBMP’s solid waste management department has also fined an apartment complex Rs 15,000 for not segregating waste into dry, wet and reject categories.

Waste disposal norms for apartments

"Segregation of waste is mandatory in apartments. Onus of enforcing segregation rules lies on the (apartment) association and waste should be segregated as dry, wet and reject," said Randeep.

InClover Grand Apartments at Baiyappanhalli was penalised for the offence of improper waste disposal. Similarly, BBMP marshals also caught and fined some people openly discarding waste in public spaces.

"Dear citizens, please change your old habits. Our marshals are watching and will fine those who throw garbage in public spaces," BBMP Special Commissioner Randeep said.

He shared the photographs of two scooter-borne individuals being caught in the act and penalised at Kuvempunagar in Bengaluru.