KOCHI l TUESDAY l SEPTEMBER 22, 2020 l `7.00 l PAGES 16 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 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 Congress MPs Ghulam Nabi Azad (3rd from L) and Mallikarjun Kharge (2nd from L) meet suspended RS members on indefinite dharna within Parliament complex on Monday | PTI 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 (both TMC), Rajeev Satav, Syed Nassir Hussain, Ripun Bora (all Congress), Sanjay Singh (AAP), Elamaram Kareem and K K Ragesh (both 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- 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 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. Borrow, ers will have to pay 0.35% additional interest. 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 16 PAGES, INCLUDING 4 PAGES OF KOCHI EXPRESS 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 meant for quarrying went off inside the building at 3.30am, the police said. P3 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 SKY IS THE LIMIT Navy gets woman airborne combatants Malayali scales new heights E X P R ESS 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 woman 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 graduates 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-true Two other woman officers — Sub Lt Afnan Sheikh and Sub Lt Kreeshma R from Palakkad — 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 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 ac- cident involving a naval aircraft in 2015 motivated me to join the force,” she said. Meanwhile, the Indian Air Force has included a women fighter pilot to be part of the team which will raise the first full Rafale Fighters’ 17 Squadron at Ambala. “The officer has begun her conversion training and was already operational on the MiG version of fighters,” said an Air Force officer. The Indian Air Force had broken the glass ceiling by inducting three women officers into the fighter stream in July 2016. Sleuths take UP native Gul Nawaz and Shoaib of Kannur out of the T’Puram airport after their arrival from Riyadh on Monday evening | EXPRESS ESSENTIAL COMMODITIES APMC FARMERS: Though the bills talk Deported LeT, IM men arrested from T’Puram airport 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”. EXPRESS NEWS SERVICE @ T’Puram CLOSE on the heels of the arrests of three alleged Al-Qaeda operatives by the National Investigation Agency (NIA) in Kochi in the early hours of Saturday, two more alleged operatives of different terror outfits were nabbed from the Thiruvananthapuram airport on Monday night. The arrested were identified as Uttar Pradesh native Gul Nawaz and Shoaib of Pappinissery Kannur. , Nawaz, who was accused of raising funds for Lashkar-eTaiba (LeT) through hawala channels to sponsor terrorist activities in the country, was arrested by the NIA. Shoaib, who is said to be an Indian Mujahideen (IM) operative, is reportedly an accused in the Bangalore blast. Considered a close aide of suspected LeT operative T h a d i ya n t av i d e N a z e e r, Shoaib was nabbed by AntiTerror Cell of the Bengaluru Police. A team of officials reached the airport in the evening and took into custody the two accused who reached from Riyadh on Air India Express repatriation flight (1532) at 6.13pm. It is learnt that the two were deported to the ● More on P4 country .
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