Mangaluru | Karnataka Bank Q3 net rises 10 pc to Rs 135 crore

News Network
January 12, 2021

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Mangaluru, Jan 12: Karnataka Bank on Tuesday posted a net profit of Rs 135 crore for the third quarter of the current financial year, marking a growth rate of 9.93 per cent as against Rs 123 crore during the corresponding quarter of the previous year.

For the nine months period ended December 2020, the bank posted a net profit of Rs 451 crore as against Rs 404 crore for the corresponding period of last year with a year-on-year growth rate of 11.53 per cent.

The operating profit during Q3 of current financial year was at Rs 438 crore. For the nine months period, operating profit stood at Rs 1,615 crore as against Rs 1,265 crore for the corresponding period of previous year with a growth of 27.67 per cent.

The lender clocked a business turnover of Rs 1.27 lakh crore as on December 31 with deposits of Rs 73,826 crore and advances of Rs 53,187 crore. Retail and mid-corporate advances showed a growth of 9.75 per cent.

Gross non-performing assets (NPAs) moderated to 3.16 per cent as on December 31 from 4.99 per cent last year. Similarly, net NPA also came down to 1.74 per cent from 3.75 per cent.

Managing Director & CEO M S Mahabaleshwara said the strong numbers of Q3 depict resilience of Karnataka Bank in spite of Covid-19 pandemic.

"Our efforts to realign the asset portfolio towards retail and mid-corporate advances is paying desired result as they have grown at the rate of 9.75 per cent year-on-year," he said in a statement.

Mahabaleshwara said cost efficiency measures have also yielded positive result as the overall cost declined by 2.35 per cent.

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News Network
December 11,2024

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Udupi: The police have booked a case against the office-bearers of the Social Democratic Party of India (SDPI) for holding 'Chalo Belagavi - Ambedkar Jatha’ without permission and thereby disrupting the movement of vehicles on national highway at Hejmadi.

The SDPI held a jatha on December 10 from 2:30 pm to 3:30 pm. According to the police, the group had unlawfully gathered near the National Highway toll gate in Hejmadi. Despite instructions from the PSI to disperse, they failed to act and disrupted the traffic on the national highway.

The police have booked case against SDPI state secretary Riyaz Kadumbu, leaders Haneef Muloor, Nooruddin Mallaru, Firoz Kanchinadka, Thoufeeq Uchila, Majeed Uchila, Ibrahim Kanchinadka and others under Sections 57, 189(2), 189(3), 281, 285 and 190 of the BNS.

About 75 to 100 people commenced a procession --without obtaining permission -- in cars and two-wheelers shouting slogans. They caused inconvenience to the vehicles moving on the national highway, police said. 

The jatha, which was launched in Udupi on December 10, is expected to cover Dakshina Kannada, Chikkamagaluru, Shivamogga, Davanagere, Haveri, Koppal, Bagalkote, Hubballi, Dharwad and reach Belagavi on December 16.

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News Network
December 17,2024

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Prime Minister Narendra Modi Tuesday condoled the death of environmentalist Tulsi Gowda and said she will remain a guiding light for environmental conservation.

In a post on X, he said, "Deeply saddened by the passing of Tulsi Gowda Ji, a revered environmentalist from Karnataka and Padma Awardee. She dedicated her life to nurturing nature, planting thousands of saplings, and conserving our environment."

"She will remain a guiding light for environmental conservation. Her work will continue to inspire generations to protect our planet. Condolences to her family and admirers. Om Shanti," he added.

Tulsi Gowda, the renowned environmentalist and Padma Shri awardee known as the "Vruksha Maate" (Mother of Trees), passed away on Monday at her residence in Karnataka’s Honnali village, Ankola Taluk, Uttara Kannada district. She was 86 and had been suffering from age-related ailments.

Hailing from the Halakki tribal community, Tulsi Gowda dedicated over six decades of her life to environmental conservation, planting and nurturing thousands of trees in Ankola and its surroundings.

Her unparalleled knowledge of plants earned her the title "Encyclopaedia of Plants." She was credited with growing lakhs of saplings and was celebrated for her unique approach to nurturing them, ensuring their survival and growth.

Born in 1944 to a tribal family, Tulsi Gowda developed a deep connection with nature at a young age. She began working at a forest department nursery as a daily wage worker and eventually became a symbol of afforestation.

In 2021, Tulsi Gowda was honored with the prestigious Padma Shri, one of India’s highest civilian awards, in recognition of her immense contributions to afforestation and environmental conservation.

She received the award from former President Ram Nath Kovind, a moment that brought her years of silent work into the national spotlight. Additionally, Dharwad Agricultural University conferred upon her an honorary doctorate for her knowledge and contributions to the environment. She also received the Indira Priyadarshini Vriksha Mitra award and numerous other accolades throughout her lifetime.

 

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News Network
December 12,2024

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Angry BJP lawmakers stormed Assembly Speaker U T Khader’s chambers at the Suvarna Vidhana Soudha, escalating tensions after the ruling Congress turned the tables on the saffron party over the Panchamasali Lingayat community’s reservation issue.

The friction began when Congress MLA Vijayanand Kashappanavar, a Panchamasali Lingayat, was allowed to criticise the Basavaraj Bommai-led BJP government’s controversial decision to scrap the 4 per cent Muslim quota, reallocating it equally to Lingayats and Vokkaligas. Kashappanavar slammed the BJP’s move, accusing it of being a mere election gimmick.

“The previous BJP government created two new reservation categories, 2C for Vokkaligas and 2D for Lingayats, just before the 2023 Assembly elections,” Kashappanavar said. “When challenged in the Supreme Court, the BJP government admitted it would not implement the decision. They announced it for votes but backtracked in court, misleading Panchamasali seer Basava Jaya Mrityunjaya Swami.”

Adding fuel to the fire, Kashappanavar alleged that RSS members had incited violence during a protest for enhanced Panchamasali Lingayat reservation. This claim enraged BJP lawmakers, who demanded the comment be expunged. However, Speaker Khader permitted Revenue Minister Krishna Byre Gowda to read aloud the BJP government’s affidavit to the Supreme Court.

“If the Panchamasali Lingayat community has faced injustice, it is because of the BJP,” Gowda declared, sparking further protests from the opposition. BJP leaders accused Khader of being “one-sided” and disregarding a point of order raised by BJP MLA V Sunil Kumar.

When Khader adjourned the session for lunch, the confrontation boiled over. Opposition Leader R Ashoka, BJP state president B Y Vijayendra, MLAs Dr C N Ashwath Narayan, Sunil Kumar, and others barged into Khader’s chambers. Chaos ensued as shouting and hollering echoed through the halls, prompting marshalls to intervene.

“The Speaker was warned that if he continued behaving this way, we would boycott the session,” Narayan stated afterward.

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