TIRUPATI l TUESDAY l SEPTEMBER 22, 2020 l `7.00 l PAGES 12 l LATE CITY EDITION GLOBAL BANKS MOVED DIRTY MONEY DESPITE RED FLAGS Several global banks have moved large sums of illicit funds, despite knowing the shady nature of the money, reports say TRANSACTIONS WORTH $2 TN IN TWO DECADES BANKS DELAYED FILING REPORTS Five global banks — HSBC, JPMorgan, Deutsche Bank, Standard Chartered, and Bank of New York Mellon — may have transacted $2 trillion worth of dirty money between 1999 and 2017, the International Consortium of Investigative Journalists said, citing over 2,000 suspicious activity reports (SARs) that banks and financial firms have filed with the US Treasury ■ ■ Banks have to file SARs within 60 days of detecting a reportable transaction. However, in many cases, the banks failed to report suspect transactions years after they had processed them The SARs also showed that banks often moved funds for companies that were registered in offshore havens | P10 HSBC SHARES IN HONG KONG FELL TO A 25-YEAR LOW OF AS MUCH AS 4.4% CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOGGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ WARANGAL ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI Need of 21st century: PM Prime Minister Narendra Modi on Monday asserted that the farm sector reform bills were the need of the 21st century India, saying farmers will now have the freedom to sell their produce at a place and price of their choice. He also assured farmers that the government will purchase of their produce and the minimum support price (MSP) mechanism will continue POINT-COUNTERPOINT Here’s a look at the fears of a section of farmers on the bills and Centre’s assurance MSP FARMERS: No mention of minimum support price (MSP) in any of the bills. The minimum price they get for their produce would be robbed off when the three bills come into effect CENTRE: The MSP mechanism will continue clause on fixed price before sowing, many corporates would not like to engage with small and marginal farms CENTRE: Will allow farmers to get higher price for their produce and guaranteed buying ESSENTIAL COMMODITIES APMC FARMERS: Though the bills talk Farmers staging a rally in Bengaluru protesting against the recent passage of the farm sector reforms bill in Parliament and the state’s land reforms ordinance | SHRIRAM BN CONTRACT FARMING FARMERS: Apprehension that due to the about intra-state trade, the role of the Agricultural Produce Market Committee (APMC), also called the mandi system, is unclear CENTRE: APMCs will continue to function. The bills create parallel markets outside the mandi as well FARMERS: Bill removes pulses, cereals and other such items from the list of essential commodities. It also does away with imposition of stock limit, so corporates will be the real beneficiaries CENTRE: It transforms the farm sector by deregulating cereals, pulses, and onions, raising farmers’ income Rajya Sabha Chairman cracks whip for Sunday’s unruly behaviour; rejects no-confidence motion moved against his deputy; Oppn urges President not to give assent to the farm bills, seeks time to meet him; weighs legal options too Indefinite dharna by 8 suspended Elders KIKE IN MSP FOR SIX RABI CROPS ANNOUNCED The Centre on Monday hiked the minimum support price for buying six rabi crops by up to 6% in an attempt to allay apprehensions of farmers on the continuation of procurement based on MSP. The MSP of wheat has been hiked by `50 to `1,975 per quintal; gram by `225 to `5,100 per quintal; barley by `75 to `1,600 per quintal; lentil by `300 to `5,100 per quintal; sunflower by `112 to `5,327 per quintal R I C H A S H A R M A @ New Delhi A day after pandemonium in the Rajya Sabha, Chairman M Venkaiah Naidu suspended eight Opposition members for their unruly behaviour during the passage of two farm bills, while rejecting a no-confidence motion moved against Deputy Chairman Harivansh Narayan Singh on technical grounds. The suspended MPs — Derek O’Brien, Dola Sen (all Trinamool), Rajeev Satav, Syed Nassir Hussain, Ripun Bora (all Congress), Sanjay Singh (AAP), Elamaram Kareem (CPI) and K K Ragesh (CPM) — called the action autocratic and continued sitting in the House despite repeated requests by the chair to leave, lead- ing to multiple adjournments. No legislative business could be conducted throughout the day . Holding placards saying ‘Murder of Democracy’ and ‘We will fight for farmers’, the suspended MPs later began an indefinite dharna near Gandhi statue on Parliament’s premises. The Upper House is likely to witness uproar on Tuesday too, as the Oppo, sition plans to press on with its objections to the refusal to allow division on the farm bills. Parallelly, the Opposition sought time to meet President Ramnath Kovind while urging him not to give assent to the two bills passed by the Rajya Sabha on Sunday — the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill 2020 and the Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020. They also weighed options to take the matter to the judiciary . Outside Parliament, Prime Minister Narendra Modi sought to dispel concerns among a section of farmers, saying he wanted to make it clear that the bills are not against agriculture mandis. If somebody says that governmentregulated agriculture markets will be finished after these reforms, then he is “blatantly lying”, Modi asserted. Earlier in the day Naidu called , Sunday a bad day for the Rajya Sabha. “It pained me a lot because what happened yesterday in the House is unfortunate, unacceptable and condemnable,” he said Lost job? Pay cut? New SBI scheme to rejig retail loans E X P R E SS N E WS S E R V I C E @ New Delhi Sub Lieutenant Riti Singh (left) and Sub Lieutenant Kumudini Tyagi during their passing out parade in Kochi on Monday | A SANESH WOMEN POWER IN NAVY’S AIRBORNE COMBAT TEAM E X P R E SS N E WS S E R V I C E @ Kochi / New Delhi TWO women have made their way into a domain held by male officers in the Navy Sub-lieutenant Riti Singh . and sub-lieutenant Kumudini Tyagi will be the first women airborne combatants of the Navy to operate helicopters from the deck of warships. Earlier, the role of women was restricted to the fixed wing aircraft that took off and landed ashore. The two officers graduated as the Navy’s Observers at a ceremony held at INS Navy gets more Garuda, the air station of the women power Southern Naval Command in Kochi on Monday Both are en. Two other woman gineering graduates in computofficers — Sub Lt er science and were commisAfnan Sheikh and sioned into the Navy in 2018. Sub Lt Kreeshma R Sub Lt Singh, a native of Hy— graduated on derabad, is the third-generaMonday. They will tion officer from her family to operate the fixedserve the armed forces. “It is a wing aircraft of dream-come-true moment as the Navy joining the Navy was my longcherished dream,” she said. Sub Lt Tyagi, a native of Ghaziabad, said she wanted to be inducted into the Navy in combat role. “The news about Lt Kiran Shekhawat, a woman officer who laid down her life in an accident involving a naval aircraft in 2015 motivated me to join the force,” she said. Meanwhile, a woman fighter pilot of the Indian Air Force is set to join the newly-inducted multi-role aircraft Rafale fighter fleet soon. The woman pilot has been flying MiG-21 fighters and was selected to join the Ambala-based Golden Arrows squadron operating the Rafale jets, sources said. “She was chosen to fly Rafale jets following a stringent selection process. She is undergoing training now,” said a source. INDIA’s largest lender State Bank of India (SBI) on Monday unveiled the set of rules it intends to follow for both personal and corporate loan restructuring process. For retail loan restructuring, the bank will check whether the applicants have lost their jobs or had their incomes reduced due to the pandemic. The loans will be restructured based on the customer’s future income. Borrowers can check their eligibility and upload relevant documents on the SBI website, which would be followed up by scrutiny and approval at the branch level. “We would like to address those who had a temporary job loss and are likely to come back… Retail customers will be offered a simple option to opt for 1-24 months of moratorium and reschedule the loans. Customers will also be offered a top-up home loan as a re- KERALA SEES 2 MORE ARRESTS BY NIA lief measure,” said C S Shetty, managing director of SBI. This, however, would come at a cost. Borrowers will have to pay 0.35% additional interest over and above current pricing for the remaining tenure of the loan. The last date to apply for restructuring is December 24, 2020. Borrowers will need to get a resolution plan sanctioned before December 31, and the lender will need to implement the restructuring within 90 days. For non-personal loans, the bank will seek additional security in the form of promoter pledges for listed companies and personal guarantee for unlisted companies. A processing fee of 0.25% of the aggregate limits will also be payable, SBI said. For term loans and working capital loans, the interest cost would be increased by 100 basis points over the current pricing, the guidelines said. and recalled that some members were seen “climbing on the Secretary General’s table, dancing, shouting in the well, tearing papers, breaking the mikes, obstructing Deputy Chairman from his duties, throwing papers, Rule Book on Deputy Chairman”. The Deputy Chairman was physically threatened, he added. As the Deputy Chairman had stated, if the members had remained seated, voting would have been carried out, Naidu claimed. “Certainly the conduct of some mem, bers grossly crossed all barriers of all parliamentary decorum.” On the no-confidence motion moved by the Opposition against Harivansh, Naidu said it was not in proper format as it did not give a 14-day notice as prescribed. P7 NOW, LODGE POLICE COMPLAINTS ONLINE importantly, these directions were passed not only in respect of the respondent (DamTHE Andhra Pradesh govern- malapati) but also all the other ment on Monday filed a spe- accused without reference to cial leave petition (SLP) in the the contents of the FIR,” the Supreme Court challenging government pointed out and the High Court’s interim or- termed the HC orders “wholly ders staying probe in a case perverse.” registered against former adRefuting the arguments of vocate general Dammalapati Dammalapati, the governSrinivas and 12 others in the ment said even if his contenAmaravati land scam and gag- tion that the case was politiging the media from cally motivated was reporting on the concorrect, it is settled Status quo tents of the FIR law that it cannot be on capital against them. quashed if it is othertill Oct 5 The government wise maintainable. The Andhra submitted that the Citing the Prakash Pradesh High impugned order was Singh Badal vs State passed on a petition Court on Monday of Punjab case, it in which the FIR was extended status quoted the apex court quo on the not even questioned order which says, government’s and sought to know “The ultimate test, three-capital if an investigation therefore, is whether move and can be stayed in such the allegations have a case, that too “at abrogation of the any substance. An inCapital Region the very threshold of vestigation should Development investigation.” Renot be shut out at the calling the sequence Authority Act till threshold because a October 5 of events, it expolitical opponent or plained that Dama person with politimalapati had moved the high cal difference raises an allegacourt on September 14 even- t i o n o f c o m m i s s i o n o f ing fearing coercive action. offence.” An FIR was lodged the next Similarly, it cited the vermorning. “... upon filing of dict in the Umesh Kumar vs the FIR, the petition had be- State of Andhra Pradesh case come infructuous. However, wherein it was held that the not only was the petition con- “issue of mala fides loses its sidered but a slew of direc- significance if there is subtions/restraint directions stance in the allegation made were issued... even when the in complaint moved with malCONTINUED ON P5 FIR was not questioned. More ice.” E X P R E SS N E WS S E R V I C E @ Vijayawada JAGAN HEADS TO DELHI TODAY During his one-day visit, the CM is likely to meet PM Narendra Modi, sources said. His scheduled visit comes in the wake of the state government’s confrontation with the High Court | P5 Digital media spreads violence, says Centre CM Jagan launched the Andhra Pradesh Police Seva App on Monday. It will be available shortly. Here are some of the things you will be able to do with it REGISTER COMPLAINTS, MONITOR FOLLOW-UP ACTION OBTAIN ‘NO OBJECTION CERTIFICATE’ MONITOR HOUSE SAFETY AVAIL PASSPORT SERVICES LODGE COMPLAINT THROUGH WHATSAPP, FACEBOOK AND TWITTER REPORT CYBERCRIME One Kannur and one UP native were arrested from the T’Puram airport for their alleged role in Delhi, Bengaluru blasts AP moves SC over media gag and halt of Amaravati probe VERIFY NEWS AND SOCIAL MEDIA MESSAGES FULL REPORT: P4 E X P R E SS N E WS S E R V I C E @ New Delhi THE Centre on Monday told the Supreme Court that print and electronic media “rarely cross the line” but the “completely uncontrolled” web-based digital media often spreads venomous hatred and triggering violence. “By the very nature of its composition, the print and electronic media would rarely cross the line which may need intervention of this Hon’ble Court frequently As against that, by its very nature the web based digital . media, by and large, remains unregulated,” the Ministry of Information and Broadcasting said in its affidavit. The 81-page affidavit urged the apex court to leave it to the legislature to frame guidelines for the mainstream electronic and print media. If the court feels the need to lay down guidelines for electronic and print media, it should first start with web-based digital media, the Centre said in its affidavit. The government’s response has come on a query by the top court on the need to regulate electronic media, following the controversy surrounding Sudarshan TV’s programme on entry of Muslims in civil services. “In case this Hon’ble Court desires to travel into the wider issues, then the issue in question, including particular series or a particular TV channel, it is absolutely inevitable to start with digital media,” the Centre said. TODAY’S MATCH MAKING A POINT Govt to rebuild temples demolished under TDP rule EXPRESS NEWS SERVICE @ Vijayawada/Visakhapatnam TO counter the criticism by the Opposition parties, particularly the TDP over attacks on temples , in the state, the government has decided to reconstruct the temples demolished by the previous TDP government in 2016 in the name of arrangements for the river Krishna pushkarams. With the chariot at the Antarvedi Sri Lakshmi Narasimha Swa- my temple being burnt, and three silver lion statues going missing from the chariot of Goddess Kanaka Durga temple in Vijayawada, Opposition parties accused the government of not preventing attacks on temples. The government decided to hand over the probe into the Antarvedi incident to the CBI, but then the Kanaka Durga temple incident came to light and gave the Opposition fresh ammunition. The YSRC has been asserting that the TDP BJP and Jana Sena, , which are making a hue and cry We want to reconstruct the main temples, like Saneeswara Swamy temple and Seethammavari Padalu, if not all, at the places where they were earlier. If that’s not possible, they will be reconstructed at alternate sites Official sources over the “attacks” on temples, were in a ruling alliance when 40odd small and ancient temples in Vijayawada were demolished in 2016. Among these were the Vinayaka temple on Canal Road, the historic Seethammavari Padalu, and temples of Saneeswara Swamy and Dakshina Mukha Anjaneya Swamy. Sources said the government has decided to reconstruct at least the ancient and important temples to prove it safeguards the P5,6 interests of Hindus. vs RAJASTHAN CHENNAI After recording their first win, CSK will meet Rajasthan Royals (playing their first match) at Sharjah on Tuesday. With two big players -- Jos Buttler and Ben Stokes -- missing from RR, Chennai would like to exploit the situation and aim for a big win ODDS: CSK 4/5 RR 6/5 LIVE: Star Sports1/Hotstar @ 7.30pm
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