Note ban: J-K sees 60% dip in terrorism-related violence
January 07, 2017 11:06
The call traffic between hawala agents in India dropped almost by half post demonetisation, says a recent assessment by the central intelligence agencies. Payments to the end beneficiary of hawala deals are traditionally in cash, with Rs 500 and Rs 1,000 being the favoured denominations.
The demonetisation of these high-value notes on November 9 severely affected hawala operators, and going solely by call traffic, their business may be down by 50 per cent, said an intelligence source.
Terror funds are mostly sourced in counterfeit currency, comprising high-quality fake notes that Indian agencies suspect are printed at the Pakistan government printing press in Quetta and its security press at Karachi.
Given this fact and the drop in hawala transactions, demonetisation has dried up funds used for organised stone-pelting in Kashmir and paying overground terror supporters in the state.
Intelligence officials claim that terrorism-related violence in J&K dipped by 60 per cent post the cash ban, with only one major blast reported from the valley in December.
An intelligence official claimed that apart from organised stone-pelting, a direct casualty of demonetisation in J&K was the overground network of terror facilitators.
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