Siddaramaiah diverting Yettinahole funds, alleges HDK

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, Apr 17: Authorities in Dakshina Kannada have announced a fresh coronavirus positive case. The patient is a resident of Uppinangady in Puttur taluk.

With this the total number of covid-19 positive cases in this coastal district mounted to 13 even though most of the patients have recovered and returned home after treatment.

In past twelve days this is the first coronavirus case reported in the district.

It is learnt that the 39-year-old had been to Delhi. He was home quarantined for past few days. His throat swabs were tested positive for the deadly disease today.

Bengaluru, Mar 4: With details of the Bengaluru links of the Covid-19-positive patient from Hyderabad emerging, state health authorities on Tuesday got down to tracking any infection trail he may have left behind before heading home.

Schools from southeast Bengaluru asked parents to send students with masks and hand sanitizers or keep them at home if they had fever. Medical shops in Bengaluru reported panic buying of masks and hand sanitizers.

Two persons with no symptoms — the Hyderabad man’s flatmate in city, and a colleague — reported at Rajiv Gandhi Institute of Chest Diseases and put under watch at the isolation ward. Their test results are expected on Wednesday.

The authorities tracked down 71 people who had come in contact with the Hyderabad man and put them under surveillance. The 24-year-old techie had travelled to Dubai for work on February 15 and returned to Bengaluru on February 20. He attended work on February 20 and 21 before taking a bus to Hyderabad. His flat has been sealed for sanitizing.

According to Telangana officials, at least 36 of the 88 people who came in contact with the techie are showing some symptoms of Covid-19.

Contrary to reports, the infected person was not tested at the KIA since guidelines don’t say flyers from Dubai must be screened. WHO guidelines say identification of the infected person should not be revealed. However, WhatsApp groups were flooded with messages on where the infected person lived and details of his flatmate.