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.
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Can anyone knows the PAN of Karnataka Chief Minister Relief Fund Natural Calamity 2018
I want to download the receipt for my donation of Rs.5000/- made to Chief Minister relief fund Natural calamity 2018 through Online on 29/08/2018 to a/c No.37887098605 in S.B.I vidhanasowda Branch from my SB a/c in Indian Bank. Prashanthnagar Branch
Contribution for Kodagu flood relief
Now there is an option avaliable in Paytm to donate online for Karnataka CM relief fund (Kodagu) . pls find the link below
https://paytm.com/helpinghand/karnataka-cm-relief-fund-natural-calamity-2018-kodagu
I am not able to donate direct online to Chief Minister's calamity Relief Fund through net banking.I have failed in my repeated attempts .Plz let me know.
I wanted to donate to Kerala CM Flood relief and got it done online within 1 minute. I am finding it difficult in Kodagu case. How do I donate online?
I have to donate money to my people
How do I do?
Kodagu Relief donation of Rs 2500/-
i want to donate for kodag flood relief(karnataka)
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