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Bengaluru, Jun 18: Real estate continues to be a preferred asset class for investors amid the uncertainty emerging out of the pandemic, according to a report by National Real Estate Development Council (NAREDCO) and Housing.com.

Titled 'Concerned yet positive - The Indian Real Estate Consumer (April-May 2020)', the report showed that the real estate consumer remains positive with regard to the economic scenario and income stability for the coming six months.

"Real estate (35 per cent) is still perceived as the preferred mode of investment, followed by gold (28 per cent), fixed deposits (22 per cent), stocks (16 per cent) and homebuyers are likely to slowly return to the market in the coming six months," it said.

Price-points of residential realty have remained muted for the past few years, but are still a key deterrent, with the perception of being still unaffordable, according to nearly half of the potential homebuyers surveyed, who are currently staying in rented accommodation.

A majority of respondents surveyed (73%) comprise 'first time homebuyers', who are looking to buy a 'ready-to-move-in-house' for end-use and are from the age group of 25-45 years. While 60% of respondents opined that for the next six months, they would prefer a ready-to-move-in property, 21% said they were okay with a property with a delivery timeline of maximum one year.

The survey was conducted in April and May 2020, through a random sampling technique for a fair representation across regions. The insights presented in the survey represent the view of more than 3,000 potential homebuyers.

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, Jun 5: Karnataka registered its highest single-day spike of more than 500 new COVID-19 cases, taking the total number of infections in the state to 4,835, the health department said on Friday.

The previous biggest single-day spurt was recorded on June 2 with 388 cases.

Of the 515 fresh cases reported, 482 are returnees from other states, mostly (about 471) from neighboring Maharashtra. Udupi district saw a major spike with over 200 cases today and the total tally of the district breaching seven hundred cases mark, to stand at 768.

As of June 5 evening, cumulatively 4,835 COVID-19 positive cases have been confirmed in the state, which includes 57 deaths and 1,688 discharges, the department said in its bulletin.

It said, out of 3,088 active cases, 3,075 patients are in isolation at designated hospitals and are stable, while 13 are in ICU.

On Friday, 83 patients have been discharged.

According to state COVID-19 war room data, out of the total 4,835 cases, 93 per cent (4,488 cases) are asymptomatic and 7 per cent (347) are symptomatic.

The new cases include 471 from Maharashtra, three from Delhi, two each from Andhra Pradesh, Telangana and Haryana, and one from Tamil Nadu.

While one is with international travel history from Indonesia. Remaining cases include- contacts of patients earlier tested positive, those from containment zones, those who travelled from other districts, and the ones whose contact history is still being traced.

Among the districts where new cases were reported, Udupi accounts for 204 cases, followed by 74 from Yadgir, Vijayapura 53, Kalaburagi 42, Bidar 39, Belagavi 36, Mandya 13, Bengaluru Rural 12, Bengaluru Urban 10, Dakshina Kannada 8, Uttara Kannada 7, three each from Hassan, Dharwad and Chikkaballapura, two each from Ramanagara and Haveri, and one each from Davangere, Bagalkote, Ballari and Kolar.

Udupi district tops the list of positive cases, with a total of 768 infections, followed by Kalaburagi 552 and Bengaluru urban 434.

Among discharges, Bengaluru urban still tops the list with total 271 discharges, followed by Davangere 147 and Mandya 146.

A total of 3,60,720 samples were tested so far, out of which 13,627 were tested on Friday alone.

So far 3,49,951 samples have reported as negative, and out of them 12,797 were reported negative on Friday.