Sorry guys - Had been long since I logged in to this forums.
At the time of writing this post in January, there was nothing as Odin or cwm for this device. So I found a way that could work and bring our galaxy y back.
You can go to xda forums link given by vonchi182
and download a latest rom for your country and flash via odin.
If you need your data to be preserved then before flashing:
1. Download and put this file CWM.zip
in your sd card (not in any folder, just sdcard).
2. Pull off your battery n press vol up key
+ home key
then power key
. You'll be in recovery mode in some seconds.
3. Select apply update from sdcard
and select cwm.zip
. (Use vol keys to navigate and home key to select) You'll be in a different recovery now.
4. Select backup and restore
- wait till it completes and again remove the battery.
5. Flash any firmware from the XDA-post
and repeat 2 and 3 steps.
6. Next select backup and restore » advanced restore
» xxxx(your backup)
» restore data
. Then one final reboot.
You'll have your previous datas back.
After you flash via odin your device will be as god as new. If you seriously need the datas you can follow the above steps. If you've any problems post your problems on xda general or q&a forums, XDA
there are hundreds of people who can solve your problem. There are lots of amazing stuffs too in there.
Have a great day..... :-)