‘Farmers’ suicides on rise in India after Modi became PM’

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 24: Raising questions about the situation in Kashmir, senior Congress leader and former Karnataka chief minister Sidddaramaiah on Monday asked the BJP heading the union government to prove 'normalcy' by hosting US President Donald Trump's event in the valley.

If @BJP4India feels Kashmir has returned to Normalcy, & If @BJP4India feels that there is no govt orchestrated violence. Now is the time to prove the same by hosting @realDonaldTrump's event at Kashmir, Siddaramaiah tweeted.

Amid concerns raised by opposition parties, the government has said efforts have been made to restore normalcy in Jammu and Kashmir which faced months of restrictions after its special status under Article 370 was scrapped in August last year.

Siddaramaiah, who is Leader of Opposition in Karnataka Assembly, in another tweet hit out at Prime Minister Narendra Modi on the long wall built near the airport in Ahmedabad allegedly to block the view of a slum, ahead of Trump's visit.

It is time for @realDonaldTrump to get inspired from @narendramodi. Inspiration to build decorative walls to hide not so decorative life!! he tweeted. The opposition Congress in Gujarat had accused the BJP- ruled civic body in Ahmedabad of building the 500-meter long wall to block the view of a slum colony. Refuting the allegations, AMC officials had said the construction of the wall, around four feet in height, was approved much before Trump's Gujarat visit was finalised.

Trump, accompanied by First Lady Melania Trump and a high-level delegation, arrived in Ahmedabad around noon on Monday for a little less than a 36-hour-long trip.

Mangaluru, Mar 23: Indian Coast Guard (ICG) on Monday announced to enhance surveillance along the coastline of Karnataka to strengthen security.

It has tasked its hovercraft in New Mangalore, and high-speed patrol vessels and interceptor boats along the coastline for ensuring foolproof security of the uninhabited islands, Deputy Inspector General S B Venkatesh, Commander, Coast Guard, Karnataka, said in a release today.

The amphibious hovercraft have been deployed for near to coast patrol, to facilitate smooth execution of search and rescue operations and security cover over land and riverine route. Please log in to get detailed story.