Neighbourhood Weekly Newspaper

Postal Registration No.TN/CC(S) Dn/28/12-14

VALASAI TIMES
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Date of Publication : Every Saturday

Covering Porur, Valasaravakkam, Virugambakkam, Saligramam & Vadapalani areas

Vol : 8 - No : 41

March 23 - 29, 2013

Editorial & Advt.

Cell: 98405 73043, 90030 39483

he 22nd Annual Day celebration of Good Shepherd Matriculation School,

Valasaravakkam, was held at Mohodhaya Hall, Ashok Nagar, on 15th
March 2013, in a grand manner. The Chief Guest Mrs. Glory Gunaseeli,
in her valuable speech inspired the children to excel themselves both in academics and in extra curricular activities. The students of the school proved their
talents by taking part in different cultural activities with great enthusiasm and
gaiety .The Correspondent J.Rex paul, Correspondent Mrs. Bamila Rex, Chair
Person Saroja John Ponnudurai watched over the celebration.

Re.1/-

VALASAI TIMES now available at

www.valasaitimes.in
www.fb.com / times.valasai
Ph: 2486 6663, 98405 73043, 9003039483
Email : valasaitimes@gmail.com

Valasai Times

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Classified Advertisement 1col x cm Rs.75/For bookings call: 98405 73043. Advertisements will be collected at your doorsteps.

ASTROLOGY

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VALASAI TIMES
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www.facebook.com/times.valasai
Valasai Times. March 23- 29, 2013

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Valasai Times

Sting operation revelations a rude shock !

he investigative website
cobrapost.com has alleged
startling revelations in 3
top private banks viz. ICICI,
HDFC and AXIS, are quite
shocking, appalling and
discreditable. The said online
magazine had conducted the sting
operation for over several months
and alleged that the said banks
are said to be involved in
channelling vast chunk of blackmoney into regular stream of
banking systems as laundered
white-money in total violation of
the existing systems and
procedures.
In this connection, the
magazine videoed footage
recorded by hidden cameras and
video-tape running to hundreds
of hours, showing some
executives of the said banks
offered purportedly to convert
black-money into white. It is
alleged, among the methods of
laundering adopted wherein gold
and insurance, were big amount
premiums do not have to be
reported by the bank. The
deposits were made in cash in
several small amounts to evade
attention of tax sleuths.
They alleged the modus
operandi by sharp methods were
adopted, by putting cash in gold
and insurance products, open
fake accounts to enable to route
cash into insurance schemes, split
money to evade detection, use
benami accounts to convert black
money into the accounts of others
to channelise black-money into
the systems for a hectic fee, make
demand drafts to facilitate
investments, open multiple
accounts and close them to
facilitate investment of blackmoney, invest black-money into
multiple investments in different
names, allot large lockers for safe
keeping of cash, help transfer
black-money abroad through
non-resident (external ) - nonresident (resident)account etc.,
which expose the bank and their
management systematically and
deliberately violating several
provisions of IT Act, Foreign
Exchange Management Act
(FEMA) guidelines, RBI
regulations , KYC norm, the
Banking Act, the Prevention of
Money Laundering Act (PMLA)
etc. This exposes the bank in total
violation of rules and regulations

in order to bring cheap deposits

and thereby furthering their profit
growth.
Immediately, on receipt of the
news , the banks have initiated
urgent action in the above matter
on sting revelations. After
preliminary investigations, the
banks swing into action, the ICICI
bank suspended 18 officials,
HDFC bank suspended 20 officers
an and Axis bank advised their 16
employees to report at their
administrative officers pending
probe. HDFC bank appointed
accounting and audit firm, deloitte
India, Amarchand Mangaldas &
Suresh A.Shroff & Co., to examine
the branches whether they have
maintained, banks code of conduct
and ethical standards etc. The bank
said any deviation to high business
standards will be viewed very
seriously. The chairman of the
respective banks have denied them
as an incorrect story.
In the meantime, the
government bodies, Reserve Bank
of India, Financial Intelligence
Unit, Insurance Regultory and
Development Authority (IRDA)
have started a parallel
comprehensive probe at the
branches of the banks mostly
situated in big cities as noted by
cobrapost into violation of KYC
norms, money-laundering norms
etc. with retrospective effect. The
RBI will also study the banks role
that are acting in selling gold
coins/wealth
management
products etc. to plug deficiencies
and legal loopholes, if any.
The RBI as the custodian and
the supervisory body should
immediately examine thoroughly
all the books of the said banks
and find whether they are
committed to the highest
standards of compliance of
various laws , corporate
governance and ethics and ensure
that the business is conducted in
compliance with the laws and
regulations etc. They should also
examine the internal checks and
balances, procedures and
safeguards adopted that have in
place to report on the robustness
of a compliance of regulatory
guidelines
and
internal
procedures.
On a regular basis, internal and
external auditors, RBI inspection
and audit are conducted in each
bank and its a sad chapter to note

AVM'S CRICKET ACADEMY

SUMMER CRICKET CAMP for boys and girls
below 16 years, at Avichi School Grounds,
130, Arcot Road,Virugambakkam,
Chennai- 600 092 from

7th April, 2013 to 1st June 2013.

S.GANAPATHY
Cell : 98401 50211
that neither of the above have
pointed out the above deficiences
and systems failure in the bank.
Then, what is the use of the
inspection & audit? and it has
become meaningless. If the sting
operation is not reported, what
will happen to the health of the
said banks and its systems and
procedures and the operation of
black-money laundering is a
dangerous signal to the
economy.
The respective banks and the
RBI have announced that they
will make the probed report ready
by 31st March 2013 and the RBI
will initiate further action and
remedial measures thereafter. The
RBI / government should take
stringent and drastic action upon
the erring officials of the said
banks if proved, and put a stop to
such malpractices for easy reach
of profit maximisation etc. as
promised by Finance Minister
P.Chidambaram. This may destroy
the faith and confidentiality of
the
regular
law-abiding
customers of the bank and pave
way for their growth retarded to
some extent.

For further details please contact :

Mr. R.V.Balasubramanyan : 9444306630
Md.Mustafa : 9840467864
Mr.Mohan : 9444005913

AARADHANA
ACADEMY
based at
Valasarawakkam,
is planning to conduct
the below
competitions for
PRE-KG, LKG, UKG
and 1st STD students :
1) Sloka
2) Painting / Drawing
Date:
Sunday 31 - Mar. 2013
For more details and
ONLINE registration
visit:
http://www.aaradhana.org.in

Valasai Times. March 23- 29, 2013

Valasai Times

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Valasai Times

FREE DIABETIC EYE SCREENING CAMP

DIABETES AND EYE :
People with diabetes are at increased risk for eye
complications. Diabetes Eye disease are a group of
eye problems that develops in Diabetics.
There is a higher risk of developing Lid infections,
Cataract, Glaucoma and Diabetic Retinopathy.
The earlier the problems are diagnosed, the more
successful the treatments can be.

PRECAUTIONS TO BE TAKEN BY
DIABETICS

Dr. N. RAJESWARI
M.S.(Ophthal)
Managing Director.

1.Good control of diabetes by medication, diet

and exercise.
2.Control of associated disorders like hypertension, renal disease and hyper
lipidemic status is a must.
3.Diabetic retinopathy patients with hypertension, renal disease or pregnancy
should have regular ophthalmic checkup every 6 months.
4.Diabetic retinopathy patients who have undergone Laser should have
regular ophthalmic checkup every 3 months.
5.All diabetics should have a mandatory eye check up once in a year.

Galaxy Institute of Management has recently launched its

Rotaract Club at its campus in Manimangalam, near Tambaram.
Mr. Ramesh Prabha, Chairman of the institute is seen along
with the newly inducted office bearers.

Animals Parade at Devi Academy

VISIT US DURING MARCH 25 TH - 30 TH

Facilities Available : State of Operation Theatre, Cataract Surgery (Mics/
Phaco), Glaucoma Checkup (Glaucoma surgery), Vitreo Retinal Services :
Complete Retinal check up, Diabetic Retinopathy treatment, Vitrectomy,
Pediatric Opthalmology : Squint examination, Childhood cataract, Evaluation
and surgery, Other facilities : Lasik correction, contact lens, In house opticals.
Aaditya Kamaraja Eye Hospital, 36, Ist Main Road, Alwarthirunagar
Annexe, Alwarthirunagar, Chennai - 87. Cell : 81220 01809, 2377 2829,
4271 6267. E.Mail : aadityakamaraja@yahoo.com

Roaring Lions, elephants, pandas, dragons and many more

animals of the Zoo were marching towards Devi Academy Senior Secondary School recently. Only, they were mini models!
The tiny tots of first standard comprising of 220 students
were all dressed up like animals for the colourful Animal Parade
which was organized in the school in connection with the International School Award Programme . It was an animal march
of National Animals of 10 countries and was witnessed by
Correspondent Ms. R. Jeyalekshmy.
The Principal Ms. Malathy Sreenivasan spoke on Kindness
towards animals which touched hearts of the crowd gathered.
A total of ten countries which included Nepal, Finland, China,
India, etc., were taken and children dressed up like the animals
of those countries explained about them as a part of the Role
Play. An exhibition of the Scrap Books and masks which were
designed by the children was also organized.
The highlight of the Programme was Dragon March, the
National Animal of China. Almost 60 students wore a very long
dragon costume of 80 feet in length and marched briskly in the
crowd.
Valasai Times. March 23- 29, 2013

Valasai Times

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Valasai Times. March 23- 29, 2013

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bjhlF : 044-32983431/32973431. KjL rhj Mnyhrid kW
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Valasai Times. March 23- 29, 2013

Registrar of Newspapers of India TNBIL/2004/14657

84

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