Important News - 2025-08-12
12 August 2025
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Economy (1)
Karnataka Bank Q1 FY26 Results: ₹292.4 Crore Net Profit, Improved NPAs and 20.46% Capital Adequacy
Karnataka Bank announced its financial results for the first quarter of the fiscal year 2025-26 (Q1 FY26) on Tuesday, reporting a net profit of ₹292.4 crore. This represents a decline compared to the ₹400.33 crore net profit recorded in the corresponding quarter of the previous year (Q1 FY25). The Board of Directors approved these results during a meeting held at the bank's headquarters in Mangaluru on June 30, 2025. The bank's aggregate gross business grew by 1.12% year-over-year to ₹1,77,509.19 crore from ₹1,75,534.89 crore in Q1 FY25. Aggregate deposits increased by 3.16% to ₹1,03,242.17 crore, while gross advances decreased to ₹74,267.02 crore. Key financial metrics included an operating profit of ₹467.29 crore and net interest income of ₹755.60 crore. Asset quality improved, with gross non-performing assets (NPAs) declining to 3.46% from 3.54% and net NPAs falling to 1.44% from 1.66%. The capital adequacy ratio strengthened to 20.46% from 17.64%. Raghavendra S. Bhat, Managing Director and CEO, highlighted moderate growth in top-line figures and emphasized the bank's ongoing focus on Retail, Agriculture, and MSME (RAM) segments to enhance low-cost deposits, with infrastructure investments expected to drive future results.
Politics (3)
BJP Proposes Spiritual Corridor Development in Tirupati Amid Criticisms of YSR Congress
The Bharatiya Janata Party (BJP) has announced a proposal to develop a spiritual corridor around Tirupati in Andhra Pradesh, aiming to amplify the city's cultural and divine appeal as a premier pilgrimage destination. During a tour of the Rayalaseema districts, BJP's Andhra Pradesh State President, P.V.N. Madhav, emphasized the need to preserve Tirupati's sanctity, citing its wealth of temples and heritage sites. Madhav also raised concerns about employees of other faiths working in the Tirumala Tirupati Devasthanams (TTD) and urged the state government to transfer them to maintain the institution's spiritual environment. Criticizing the previous YSR Congress government, he labeled its tenure a 'period of devastation,' alleging misuse of funds meant for the poor and diversion of grants from the 14th and 15th Finance Commissions allocated to Village Panchayats. As part of his visit, Madhav met with Sri Sankara Vijayendra Saraswathi Swamy, the senior pontiff of Kanchi Kamakoti Peetham, who is observing Chaturmasya Deeksha in Tirupati, seeking his blessings for the initiative.
Karnataka Lokayukta Arrests Koppa Town Panchayat Chief Officer in ₹25,000 Bribery Sting
Karnataka Lokayukta Police arrested A. Chandrakanth, the Chief Officer of Koppa Town Panchayat, for accepting a bribe of ₹25,000 from a contractor. The incident occurred after the contractor filed a complaint alleging that Chandrakanth demanded ₹50,000 to clear a payment bill of ₹7.5 lakh related to road construction work. Acting on the complaint, a special team led by Deputy Superintendent of Police Tirumalesh set up a trap and apprehended Chandrakanth while he was accepting the bribe. This case highlights anti-corruption efforts in local governance under the Lokayukta system in Karnataka.
Congress Counters ABVP Campaign in Mysuru, Alleges Student Misuse and Disputes Drug Seizure Value
On Tuesday, Youth Congress activists organized a counter protest in Mysuru, Karnataka, responding to the Akhil Bharatiya Vidyarthi Parishad's (ABVP) 'drug-free campus' campaign. The ABVP, affiliated with the Bharatiya Janata Party (BJP), faced accusations from the Congress party of exploiting the initiative to spread negative perceptions about Congress and Muslims among students. M. Lakshmana, spokesperson for the Karnataka Pradesh Congress Committee (KPCC), announced that Congress would stage demonstrations outside educational institutions with pro-BJP managements for permitting student involvement in BJP-linked events. He stated intentions to file a police complaint against these managements for alleged political misuse of students and demanded the withdrawal of their government recognition. Lakshmana also addressed a recent narcotics seizure in Mysuru, clarifying that it involved 20 kg of Mephedrone valued at approximately ₹4 crore, contradicting earlier reports of ₹400 crore worth of MDMA. He asserted the drugs traced back to BJP-ruled Gujarat and Maharashtra, citing large-scale drug seizures in BJP states over the past decade, and accused central agencies of inflating the seizure value to undermine the Congress-led Karnataka government.
Appointments (1)
Teachers Protest Appointment Delays in Kozhikode Amid Differently Abled Quota Court Orders
On August 12, the Kerala Aided Teachers' Collective, representing educators awaiting government approval for regularized positions in aided schools, organized a protest march and staged a dharna outside the office of the Deputy Director of Education in Kozhikode. The demonstration targeted the alleged delays in expediting their appointments, which the collective attributes to pending court orders concerning reservations for differently abled individuals. Former Member of the Legislative Assembly (MLA) P.V. Anvar inaugurated the event, stating that approximately 16,000 teachers across Kerala are affected by the hold-up. He noted that while the Nair Service Society (NSS) and other groups obtained a court directive to proceed with appointments, the state government permitted only NSS to advance. Anvar further alleged that numerous differently abled appointees secured teaching positions using fraudulent certificates, complicating the issue.
Schemes (2)
GHMC Commissioner Karnan Urges Swift Action on 685 Dilapidated Structures for Monsoon Safety
In preparation for heavy rainfall forecasted from August 13, Greater Hyderabad Municipal Corporation (GHMC) Commissioner R.V. Karnan has issued directives to all officials to heighten vigilance and implement immediate measures for dilapidated structures and cellar excavations across Hyderabad. The initiative, part of monsoon safety protocols, aims to prevent accidents and protect lives and properties. During a recent online review meeting, Commissioner Karnan highlighted delays in the Khairatabad, Secunderabad, and Charminar zones, urging prompt follow-up actions. So far, GHMC has identified 685 dilapidated structures, with 327 already addressed through repairs or evacuations. For the remaining structures, ongoing efforts include issuing notices, conducting structural safety assessments, and counseling owners to vacate unsafe premises. Additionally, all leaves for officials in the Town Planning wing have been cancelled, except for emergencies, to ensure round-the-clock readiness during the rainfall period.
Kerala Allocates ₹2,028 Crore for 60 Railway Overpasses Under 'Level Crossing-Free' Project
On August 12, Kerala Chief Minister Pinarayi Vijayan announced the allocation of ₹2,028 crore for constructing 60 railway overpasses across the state, aiming to achieve a seamless road network and eliminate level crossings. The funding includes ₹1,800 crore from the Kerala Infrastructure Investment Fund Board (KIIFB) as part of the 'Kerala without level crossings' project, which focuses on reducing traffic congestion and enhancing safety. Speaking at the inauguration of the Koduvally railway overpass in the Thalassery constituency, the Chief Minister emphasized the government's commitment to timely infrastructure development. He cited the completion of the ₹36.37-crore Koduvally flyover as an example, which overcame funding and land acquisition challenges, with ₹26.31 crore from the state government and ₹10 crore from the Railways. The bridge, notable for being the first in Kerala to use a steel-concrete composite structure, spans 10.05 metres and incorporates concrete piles, pile caps, steel piers, girders, and a concrete deck slab. Public Works Minister P.A. Mohamed Riyas and Speaker A.N. Shamseer attended the event.
Festivals (1)
National Librarians’ Day Honoring Dr. S.R. Ranganathan Observed at St. Philomena College
St. Philomena College (Autonomous) in Puttur observed National Librarians’ Day on Tuesday to commemorate the 133rd birth anniversary of Dr. S.R. Ranganathan, widely regarded as the father of the Library Science Movement in India. The event featured Nemichandra Gowda, a retired Kannada associate professor from Pompei College, Aikala, as the chief resource person. Gowda emphasized libraries as the core of education, urging students to prioritize reading over mobile phone usage, stating that while mobile devices encourage prolonged distraction, books foster confidence and lifelong learning. Vice-Principal Vijayakumar Moleyar further encouraged students to develop personal libraries to cultivate reading habits.
Heritage (1)
No Skeletal Remains Found in Dharmasthala Mass Burial Excavation at Site 13
In Dharmasthala, Karnataka, the Special Investigation Team (SIT) continued its probe into allegations of mass burials by excavating site number 13 on Tuesday but found no skeletal remains. This site, one of 13 locations identified by a complainant, was scanned using ground-penetrating radar (GPR) mounted on a drone to detect subsurface anomalies before digging commenced. The excavation reached a depth of approximately 18 feet but was halted due to water seepage, requiring pumps to remove the accumulated slush. Key officials overseeing the operation included Assistant Commissioner Stella Verghese of Puttur Sub Division, SIT Superintendents of Police Jitendra Kumar Dayama and C.A. Simon, and SIT chief Pronab Mohanty, the Director General of Police, who made a brief visit. Concurrently, a team from the National Human Rights Commission (NHRC) inspected the site as part of its suo-motu case into the burial complaints, following visits to the SIT office in Belthangady and the previously excavated site near Bahubali hills on August 9. Separately, the SIT declined a request to reinvestigate the 1987 death of Pre-University student Padmalatha, citing that the Corps of Detectives (CoD) had closed the case as undetected, and only a court order could reopen it.
Miscellaneous (1)
Fatal KSRTC Bus Accident at Kerala Secretariat Spurs Demand for Enhanced Traffic Safety Measures
In Thiruvananthapuram, a 62-year-old woman named Geetha from Peyad was fatally struck by a Kerala State Road Transport Corporation (KSRTC) bus while crossing the road in front of the Kerala Secretariat on Tuesday. The incident occurred as Geetha and her husband Pradeep attempted to cross towards General Hospital after alighting from the same bus, and the driver moved forward without noticing them, leading to her being run over. Despite immediate police efforts to rush her to the hospital, Geetha succumbed to her injuries. This tragedy has highlighted recurring issues of rash and negligent driving by public transport operators in the city, prompting calls for stricter monitoring of bus operations on busy corridors like MG Road. Deputy Commissioner of Police (Law and Order, Traffic-1) T. Farash announced enhanced vigilance to enforce halting only at designated stops and promote lane discipline. Ongoing challenges include traffic disruptions from frequent protests near the Secretariat, which often block roads and worsen congestion.
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