3 years since demonetisation: How this decision helped India’s war against terror

demonetisationThe effects of demonetisation that is unseen is the crippling effect it has had on terror funding

It has been three years since the decision on demonetisation. On November 8, 2016, Prime Minister Narendra Modi announced that the Rs 1,000 and Rs 500 note would no longer be legal tender.

There have been arguments both for and against. However here we take a look at how the decision had an impact in India’s war against terror. The aftereffects of demonetisation were first felt in the Naxalite strongholds.

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Post demonetisation, CBI recovered Rs 396 crore illegal tender

illegal cashThe Central Bureau of Investigation said that post demonetisation, there have been 77 cases related to corruption that have been registered. The CBI said that during the various probes conducted it had been found that the Aadhaar numbers of children were being used to deposit old currency in banks.

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Indira didn’t do it, I went ahead, Modi on demonetisation

modi1I had to do it, because Indira Gandhi did not, Prime Minister Narendra Modi said while defending the decision on demonetisation. Burning my effigies will not deter me from carrying out a fight against corruption and black money, Modi also said at a rally in the poll bound Himachal Pradesh.

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Govt gets vital information on over 2 lakh suspicious companies post demonetisation

companyIn what is undoubtedly a major breakthrough in its fight against black money and shell companies, vital information has been received by Government of India from 13 banks regarding the bank account operations and post-demonetization transactions of some of the 2,09,032 suspicious companies that had been struck off the Register of Companies earlier this year. It may be recalled that after being struck off, operation of the bank accounts of these 2,09,032 suspicious companies were restricted for discharge of their liabilities only.

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