700 Maoists Have Surrendered Post Notes Ban: PM Modi

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New Delhi: Around 700 Maoists have surrendered post-demonetisation and funds to terrorists in Jammu and Kashmir have been choked, Prime Minister Narendra Modi said in Rajya Sabha on Wednesday, while insisting that the note ban has had a direct impact on naxalism and terrorism.

Replying to the debate on Motion of Thanks to the President’s Address, he said cash as well as fake currency is used in promoting terrorism and naxalism.

“In the last 30-40 days (after demonetisation), over 700 Maoists have surrendered in the country. The process is on,” he said.

He went on to add: “It cannot be that nobody in the House is satisfied with the surrender of Maoists. How can it be? But if it is not, then there is some other meaning to it.”

The Prime Minister said some people are “jumping up and down”, saying Rs. 2,000 notes were found on terrorists. “We should know that in the post-note ban period in the country, there were attempts to loot banks and take away new currency notes, especially in Jammu and Kashmir because they (terrorists) were facing difficulties in carrying out day-to-day activities post demonetisation,” he said.

He said terrorists killed a few days after banks were looted in J&K, were found possessing new currency. “This has a direct link. We should understand,” he said. He said the counterfeit currency used in the economy could not reach banks due to demonetisation.

“When the decision (of demonetisation) was taken on November 8, there was no question of fake currency coming back. Fake currency was neutralised there and then. Therefore, if somebody has a record of it, I wonder how. The fake currency was neutralised at that time itself,” he said.

To press his argument, PM Modi also made a mention of TV reports about suicide by a trader engaged in fake currency notes business in an “enemy country”, an apparent reference to Pakistan.

“You must have seen a television report. People in our enemy country running fake currency business had to commit suicide,” he said.

PM Modi also noted that today black money, terrorist organisations, fake currency business, drugs trade, hawala trade have entered various streams of life and thus their reach has widened. He said it is correct that cash is essential for the country’s formal economy and the Rs. 1,000 Rupee notes were not going into the formal economy and a less number of 500 rupee notes were going.

“Now since such a big amount of currency has come to the banks, it will increase their capacity to lend to the common man,” he said.