Sanjeev Pargal
JAMMU, Nov 17: The Government of India has set up high level joint team to unearth attempts to convert hawala money and terror funds into white by exchanging notes in the banks and, in the process, reach to the real sources of the funds in Jammu and Kashmir especially the Kashmir valley.
The decision followed a high level meeting chaired today by Union Home Minister Rajnath Singh in New Delhi with top officials of the Ministry, Research and Analysis Wing (RAW), Intelligence Bureau (IB) and other Intelligence agencies exclusively on effectively blocking terror funding post-demonetization of big notes on November 8.
Official sources told the Excelsior that top officials of Union Home Ministry, Incharge Jammu and Kashmir desk, Enforcement Directorate, Finance Ministry etc would jointly monitor the post-demonetization impact on terror funding by staying in regular touch with Chief Secretary BR Sharma, Director General of Police K Rajendra Kumar and Banking officials and taking inputs from the concerned agencies.
The Government was of the view that demonetization of 500 and 1000 notes has dealt a crippling blow to Pakistan sponsored terrorism as entire cash available with terrorists, their Over Ground Workers (OGWs), other sympathizers etc has been reduced to trash following Centre’s move.
“While majority of currency used for terror funding was fake, which had been printed in Pakistan and smuggled to Jammu and Kashmir, even the genuine currency was now a mere paper for the terrorists and any attempt by them to exchange 500 and 1000 notes through their OGWs would be foiled for which a joint mechanism by Central and State agencies has been put in place,” sources said.
While the Government has repeatedly clarified that funds below taxable limit will not be questioned, sources pointed out that entire flow of cash is being monitored in the Valley only to the extent of checking hawala and terror funds and not to harass the genuine persons.
The aim, according to sources, is to reach to those involved in terror funding and hawala money, which was sustaining militancy and separatism in the Kashmir valley with the backing of hostile neighbour.
“We want to identify those channelizing funds for terrorism. The demonetization of currency is the major opportunity. To reach to the accused, entire cash flow is being monitored by joint team of the Central and State Intelligence agencies. The Centre is of the view that demonetization has delivered crippling blow to terrorists and their financers,” sources said, adding that several issues figured in today’s review meeting chaired by Rajnath Singh, which was exclusively confined to terror funding in Kashmir.
Sources said National Security Advisor (NSA) Ajit Doval, Union Home Secretary Rajiv Mehrishi, RAW chief Rajinder Khanna and Intelligence Bureau Director Dineshwar Sharma, who attended today’s review meeting called by the Home Minister among others including those Incharge of Kashmir desk were regularly monitoring the fund flow to banks after demonetization of notes in the country especially the Kashmir valley.
According to sources, the flow of money into the Valley from across the border has completely been stopped as Pakistan had printed only fake currency in the denomination of 500 and 1000, which has been declared as illegal.
“Pakistan might not be able to print new fake currency immediately. Either they (the Pakistan) will be unable to print the currency or if they succeed it could take them long time to do so. The Government is confident that terror funds would be blocked completely very soon as the cash in their possession has been reduced to mere papers,” they said.
Further, they added, with strong mechanism in place to check terror funds flow in future, the militants would find it extremely difficult to garner the funds.
“The ultimate aim is to block all channels of funds for terrorists. The de-monetization is the first step. More steps would follow,” sources said.
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