Karnataka Bank CEO wins prestigious Aryabhata International Award
Bengaluru, May 23: Mahabaleshwar M.S administrative manager and chief executive officer of Karnataka has won the prestigious Aryabhata international award 2017 for his excellent service and contribution in banking sector.
Mahabaleshwar received the prestigious award in a grand ceremony held at Ravindra Kalakshetra in Bengaluru on May 23, 2018.
He had recently completed one year as administrative manager and CEO of the bank. The bank has crossed Rs. one lakh crore transactions during his tenure.
Speaking on the occasion Mahabaleshwar said that the award is dedicated to all the staff and partners of Karnataka bank.
He also said that the award has increased his responsibility and encouraged him to provide more service.
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Power tariffs under BESCOM to rise from May 1
Bengaluru (PTI): Power bills for consumers under the Bangalore Electricity Supply Company Limited (BESCOM) will go up from May 1, following an order issued by the Karnataka Electricity Regulatory Commission (KERC) on Friday.
The hike comes after KERC allowed the BESCOM to recover a revenue deficit of Rs 2,068 crore incurred in 2024-25, from the consumers.
As a result, for every unit of electricity consumed in 2024-25, the customers will be charged an additional 56 paise, it said.
"BESCOM shall calculate, for each of the active consumers of FY2024-25 the amount to be recovered based on their actual energy consumption during FY2024-25. Such amount shall be recovered during FY 2026-27 in equal monthly instalments, to be called as 'FY25 True up Charges', commencing from the first meter reading date falling on or after 1 May 2026 and concluding with the reading date ending on 30 April 2027," the order said.
"It is further ordered that BESCOM shall maintain a separate head of account, allocated for the purpose, to record the adjustment of the said amount to ensure full recovery of the deficit," it added.
Similarly Chamundeshwari Electricity Supply Corporation Limited (CESC) has also recorded a revenue deficit of Rs 121.71 crore and can collect an additional 15 paisa per unit for consumption in 2024-25, official sources said.
