RBI slaps fine on bank

RBI has slapped a fine of Rs 5 lakh on the Kodagu District Central Co-operative bank here for violating norms.

The apex bank has directed the co-operative bank to close all mutual funds, a rule enacted recently and applicable to all financial institutions. The DCC Bank had Rs 60 crore as mutual funds and had recalled around Rs 44 crore. The managing director of the bank was summoned to Mysore recently by the RBI for an enquiry.

The apex bank has directed the co-operative bank to close all mutual funds, a rule enacted recently and applicable to all financial institutions. The DCC Bank had Rs 60 crore as mutual funds and had recalled around Rs 44 crore. The managing director of the bank was summoned to Mysore recently by the RBI for an enquiry.

-TOI

‘Adventure’ tourists cautioned of flash floods in Kodagu

Tourists visiting the hilly district of Kodagu, which receives a high amount of rainfall, have been asked to be cautious when they go on adventurous sojourns like trekking and hiking during monsoon as flash floods could cause danger to their lives.

Deputy Commissioner Chandregowda today cautioned the tourists and asked them to take enough care while they go on their own in the countryside in this district known for its coffee plantations.

His comment came after a TV Channel photographer drowned due to flash floods in River Cauvery at Balamuri two days ago.

Shekar, a satellite TV photographer, met with a watery grave while attempting to walk through an abandoned bridge with overflowing with water.

The official had asked hotel and home stay owners to educate the tourists about dangerous spots.

-Sahilonline