RBI slaps Rs 1 cr penalty each on three public sector banks
Mumbai, Sep 7 : The Reserve Bank of India (RBI) has imposed a penalty of Rs 1 crore each on three public sector banks for non-compliance with its directions on "Fraud - Classification and Reporting".
According to the RBI, the penalty was imposed individually on all the three banks -- Bank of Maharashtra, Bank of India, Union Bank of India -- on August 30, 2018.
The apex bank took into account the delay on the part of these banks in reporting fraud in certain accounts.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
CM Siddaramaiah rubbishes allegation of lack of funds as 'politically motivated'
Bengaluru (PTI): Karnataka Chief Minister Siddaramaiah on Thursday rubbished the BJP allegation of lack of funds to appoint boards and corporations, as "politically motivated".
"The BJP is making false, politically motivated allegations," Siddaramaiah told reporters here.
The BJP state chief B Y Vijayendra on Thursday alleged the Congress government of misappropriating funds earmarked for the welfare of Scheduled Castes and Scheduled Tribes and cheated them. It also led to a situation where the pain, suffering, sorrow and grievances of these communities have not been addressed since Congress came to power, he said.
The statement highlights the allegedly "illegal transfer" of Rs 87 crore fund of the Karnataka State Maharshi Valmiki Scheduled Tribes Development Corporation to various bank accounts and individuals ahead of the Lok Sabha elections.
The Shikaripura MLA said in a post on 'X' that the state's Congress government has so far failed to appoint a chairperson for the Commission for Scheduled Castes and Scheduled Tribes, making it ineffective.
According to Vijayendra, a public interest litigation has been filed in the High Court challenging the delay in appointing the chairpersons of the Commissions, and the High Court has issued a notice to the government.
"It is very unfortunate that the Commission for Scheduled Castes and Scheduled Tribes, which is supposed to be the voice of the oppressed and report on the welfare of the Scheduled Communities, has been inactive since this government came to power," he charged.
Replying to a question on intra party squabble in the congress over the subject of change in Chief Minister's post, Siddaramaiah said the party high command's decision will be final.
In the last two days, supporters of Deputy Chief Minister D K Shivakumar as well as Public Works Minister Satish Jarkiholi raised pitch for Chief Ministerial post to their leaders.
Regarding skipping the Davos World Economic Forum Annual Meeting, Siddaramaiah said he stayed back for budget preparation. He pointed out that he did not go there in 2024 as well.
