KOTTAYAM l TUESDAY l SEPTEMBER 22, 2020 l `7.00 l PAGES 12 l 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 OF 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 POINT-COUNTERPOINT 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 their produce and the minimum support price (MSP) mechanism will continue 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 CONTRACT FARMING FARMERS: Apprehension that due to the 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 bills in Parliament and Karnataka’s land reforms ordinance | SHRIRAM BN 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 Indefinite dharna by 8 suspended Elders RS chairman cracks whip for Sunday’s unruly behaviour; rejects no-confidence motion moved against his deputy 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, leading 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 premis- State Bank loan rejig scheme to help those who lost jobs E X P R E SS N E WS S E R V I C E @ New Delhi 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. “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,” said C S Shetty, MD 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 loan. es. The Upper House is likely to witness uproar on Tuesday too, , as the Opposition 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 t a ke t h e m a t t e r t o t h e judiciary . Outside Parliament, Prime Minister Narendra Modi sought to dispel concer ns among a section of farmers, saying he wanted to make it clear that the bills are not against agriculture mandis. If somebody says that government-regulated agriculture markets will be finished after these reforms, then he is “bla- Church dispute: 1st-round talks chaired by chief minister fail E X P R E S S N E W S S E R V I C E @ T’Puram THE intermediary talks chaired by Chief Minister Pinarayi Vijayan on Monday to find an amicable settlement to the dispute within the Malankara Church failed after both the Jacobite and Orthodox factions stuck to their guns. While the Jacobite faction pressed the demand for a referendum, the Orthodox faction wanted the Supreme Court verdict to be implemented. The latter, however, expressed its willingness to have a joint discussion with the Jacobites. The meetings, held separately, had gained importance in the wake of the Kottayam sub-court’s order last Friday to hand over the St Mary’s Jacobite Syrian Cathedralat Manarcad, a major pilgrimage centre, to the Orthodox faction. The Supreme Court had ordered the state government to take over the Jacobite churches and hand over them to the Orthodox faction. The Jacobite faction exuded confidence in the talks convened by the CM, but the Orthodox faction maintained that any discussion should be based on the apex court order. Orthodox representatives also expressed their displeasure at the state government’s reported move to come up with an ordinance in case the discussions end in a stalemate. ● More on P4 EXPRESS READ Two migrants killed in blast at a house in Malayattoor Kochi: Two migrant workers were killed in a blast at a house adjacent to a granite quarry at Illithode in Malayattoor, near Kalady, in the early hours of Monday. The incident occurred when explosives kept in the building for quarrying activities went off at 3.30am, the police said. P4 4 people die in rain-related incidents, showers subside T’Puram: Four people were killed in various rain-related incidents in the state. Though the intensity of the low-pressure induced rain weakened in central and south Kerala, the situation continues to remain grim in the north. A yellow alert was sounded in 7 districts for Tuesday. P4 NEW HIGH Navy gets woman airborne combatants Navy gets more women power 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 Garuda, the air station of the Southern Naval Command in Kochi on Monday Both are engineering gradu. ates in computer science and were commissioned into the Navy in 2018. Sub Lt Singh, a native of Hyderabad, is the third-generation officer from her family to serve the armed forces. “It is a dream-come- Two other woman officers — Sub Lt Afnan Sheikh and Sub Lt Kreeshma R — graduated on Monday. They will operate the fixed-wing aircraft of the Navy Sub-lieutenant Riti Singh (left) and Sublieutenant Kumudini Tyagi during their passing out parade in Kochi on Monday | A SANESH true moment as joining the Navy was my long-cherished 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. tantly 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 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”. LeT, IM operatives arrested from T’Puram airport Police. A team of officials reached the airport in the evening and took into custody CLOSE on the heels of the ar- the two accused who reached rests of three alleged Al-Qae- from Riyadh on Air India Exda operatives by the National press repatriation flight (1532) Investigation Agency (NIA) in at 6.13pm. It is learnt that the Kochi in the early hours of two were deported to the Saturday, two more alleged country . operatives of different terror The officers questioned the outfits were nabbed duo for about twof ro m t h e T h i r u and-a-half hours invananthapuram airside the airport. Latp o r t o n M o n d ay er they were taken to night. Kochi for detailed inThe arrested were terrogation. They are identified as Uttar expected to be taken Pradesh native Gul to New Delhi and Nawaz and Kannur, Gul Nawaz Bengaluru after obnative Shoaib. tainingu transit warNawaz, who was accused of rants on Tuesday . raising funds for Lashkar-eNawaz was accused of raisTaiba (LeT) through hawala ing funds for the proscribed channels to sponsor terrorist LeT from Saudi in a case regactivities in the country, was istered in 2017. arrested by the NIA. The NIA had earlier arrestShoaib, who is said to be the ed other accused persons in Indian Mujahideen (IM) op- the case for their role in funderative, is reportedly an ac- ing LeT operative Sheikh Abcused in the Bangalore blast. dul Nayeem alias Sohel Khan Considered a close aide of wh o w a s a r r e s t e d a n d suspected LeT operative chargesheeted earlier for T h a d i ya n t av i d e N a z e e r, criminal conspiracy to carry Shoaib was nabbed by Anti- out subversive activities in Terror Cell of the Bengaluru the country . EXPRESS NEWS SERVICE @ T’Puram
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