Srinagar: Prime Minister Narendra Modi’s bold decision to scrap Rs 1000 and Rs 500 currency notes will not just break the black money market in the country but, more importantly, hit the Pakistan-sponsored terror funding network.
As per Deputy Chief Minister of Jammu and Kashmir, Nirmal Singh, Pakistan prints more Indian currency than Pakistani currency.
Singh’s comments echo media reports that claimed that Fake Indian Currency Notes (FICNs) are printed in government presses in Lahore, Quetta, and Peshawar.
The ISI then smuggled FICNs into India via Sri Lanka, Nepal and Bangladesh. Smugglers are sold the FICNs in 2:1 ratio – two fake notes for the value of one original.
The problem was accentuated when Pakistan began printing good copies of original currency notes.
And all this money was pumped into India to fund terrorist activities.
There are also indications that over Rs 100 crore of the fake currency was distributed in Kashmir to fuel unrest.
“This decision is a death blow to terror funding network. This step was necessary for national security,” BJP leader Subramanian Swamy said.
Praising Prime Minister Narendra Modi for his bold step of demonetising, Union home minister Rajnath Singh said the move has shocked Pakistan as its motive to destabilize Indian economy will go for a toss now.
“This action is going to make the country an economic superpower. And, it will also jolt the motives of Pakistan to destabilize Indian economy by pumping fake currencies in denomination of Rs 1,000 and Rs 500. The same Pakistani fake currencies were enabling the terror groups to strengthen their position,” the minister said.