HYDERABAD TUESDAY SEPTEMBER 22, 2020 `7.00 PAGES 16 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 stage a rally in Bengaluru in protest 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 HIKE 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 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 KTR calls out BJP’s ‘shameful distortion’ of Covid funds stats replying to a query from RTI activist Sudheer Jalagam, the Telangana State Medical SerUSING the statics provided by vices and Infrastructure Dethe Union Ministry of Health velopment Corporation (TSMas a political weapon, TRS SIDC) revealed that `164.41 working president and MAUD crore has been spent for the Minister K T Rama Rao on management of Covid-19 till Monday sought to nail the BJP September 14. fo r i t s s m e a r- ca m p a i g n As per the TSMSIDC reply, against the Sate government `67,23,02,985 was spent on that very little had drugs, `30,68,78,430 been done in the on surgicals, `164.41 cr management of spent so far: `23,49,26,315 on civil Covid-19. and `42,99,98,655 on TSMSIDC The TRS leader, other equipment. In an RTI reply, referring to the CenThe total donations the TSMSIDC tre’s reply in Parliareceived by the State revealed that ment that it had refrom the public for `164.41 crore has leased only `290.29 management and been spent for crore to Telangana containment of the management as against the BJP Covid-19 was of Covid-19 in the state leader’s claim `18,26,24,038. State till Sept 14. that the amount was Sudheer Jalagam, The donations `7,000 crore, said meanwhile, suggestreceived by the that it only exposed ed that the State govState govt for their “shameful ernment should discontainment of distortion” of the close the funds Covid-19 was facts. released by the Cen`18,26,24,038. Rama Rao tweettral government and ed: “TS BJP MPs the expenditure inclaim that Govt of India re- curred by the State for manleased a staggering `7,000 Cr a g e m e n t C ov i d - 1 9 o n a to Telangana in the fight monthly basis for better against Covid-19. The NDA transparency . Govt in response to a quesThe RTI reply made it clear tion, answered that all they that of the Central funds of had released to Telangana was `290.29 crore, after spending `290 Cr! What an absolute `164 crore, the State still has shameful distortion & mis- `144 crore, which includes `18 leading propaganda (sic).” crore raised as donations for In a related development, containment of Covid-19. E X P R E SS N E WS S E R V I C E @ Hyderabad TS SEES DROP IN COVID TESTS & CASES I P4 Lost job? Pay cut? New SBI ‘Totally uncontrolled’ digital media spreads scheme to rejig retail loans hatred and violence, Centre tells apex court 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 Garuda, the air station of the Southern Naval Command Riti Singh’s in Kochi on Monday Both are . dreams always engineering graduates in comhad ‘Wings’ puter science and were commissioned into the Navy in Sub Lieutenant Riti 2018. Singh, who grew up Sub Lt Singh, a native of Hyseeing her father, derabad, is the third-generagrandfather and tion officer from her family to uncles serve the serve the armed forces. “It is a nation, says: “My life dream-come-true moment as has been nothing joining the Navy was my longshort of a movie. I cherished dream,” she said. knew since my Sub Lt Tyagi, a native of childhood that Ghaziabad, said she wanted to I wanted to serve be inducted into the Navy in the nation.” | P5 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 multirole 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. 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 the print and electronic media “rarely cross the line” but the “completely uncontrolled” webbased digital media is often found to be spreading 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 GHMC POLLS EVMs or ballot papers: SEC seeks views of political parties One Kannur and one UP native were arrested from the T’Puram airport for their alleged role in Delhi and Bengaluru blasts | P5 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. EXPRESS NEWS SERVICE presidents and secretaries of political parties registered with the State Election Commission, requesting them to send their suggestions to the Commission on or before September 30. If no reply is received by September 30 it will be construed that political parties have no opinion to offer, the letter said. The elections to the civic body has to be conducted before the term of the present body expires on February 10, 2021. @ Hyderabad THE Telangana State Election Commission (TSEC) has sought the opinion of political parties on whether to use ballot papers or electronic voting machines (EVMs) for the conduct of elections to the Greater Hyderabad Municipal Corporation (GHMC) in the wake of prevailing Covid-19 pandemic. TSEC Secretary M Jayasimha Reddy wrote a letter to the CONDITIONS APPLY MONDAY’S RESULT New Sectt gets final nod for grant of green clearance Virat Kohli’s RCB defeated SRH by 10 runs to begin their IPL campaign in style. Batting first, RCB scored 163 and then bowled out SRH for 153 in 19.4 overs | P11 V N I L E S H @ Hyderabad THE Telangana government’s proposal to construct a new Secretariat complex near Necklace Road received the final approval required for grant of Environmental Clearance from the State Environment Impact Assessment Authority (SEIAA). The proposal was cleared by SEIAA in its 77th meeting held on September 1 and attended by Chairman Prof M Ananda Rao, Member Dr B Narasiah and Member Secretary Swargam Srinivas. According to minutes of the meeting, the SEIAA noted the geo-coordinates of the project site. This is important as the State government had submitted in its proposal that the new Secretariat complex is outside the Hussainsagar and there is a 30-metre buffer between the proposed new Secretariat complex and the lake’s Full Tank Level. Total area of the project site is 26.29 acres. The approval for Environmental Clearance by SEIAA for the construction of new Secretariat complex are subject to a set of conditions for which the State government would be submitting an undertaking. One of the conditions is that the 27 trees that in the proposed area of construction have to be translocated in consultation with the Forest Department. Other conditions include that no construction is taken up in the buffer zone of FTL of Hussainsagar, 100 per cent recycling of waste water generated by the new Secretariat, confirming to the WALTA Act, adopting green building concepts, developing green area with tall growing tree species, making provision for solar energy on the roof and sufficient rain water harvesting. TODAY’S MATCH vs RAJASTHAN CHENNAI After recording their first win, CSK will meet Rajasthan Royals at Sharjah on Tuesday ODDS: CSK 4/5 RR 6/5 LIVE: Star Sports1/Hotstar @ 7.30pm
Express Network Private Limited publishes thirty three E-paper editions of The New Indian Express newspaper , thirty two E-paper editions of Dinamani, one E-paper edition of The Morning Standard, one E-paper edition of Malayalam Vaarika magazine and one E-paper edition of the Indulge - The Morning Standard, Kolkatta.