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| All banking outlets in Jammu and Kashmir put under a scanner | | | Agencies
New Delhi , Nov 18: All banks and their branches across restive Jammu and Kashmir have been put under strict scrutiny following reports that huge sums of demonetized currency of high denomination value are pouring into India from Sri Lanka, Mauritius, Dubai and Bangladesh. The Central government has constituted a high level joint team to ferret out attempts to swap hawala money and terror funds with fresh currency notes being issued by the banks and also reach to the real sources of the funds in the state particularly the Kashmir valley. However, the authorities have made it amply clear that funds below taxable limit will not be quizzed. The entire flow of cash is being monitored in the Valley to check hawala and terror funds and not to harass the bona fide tax payers, they said.
The authorities are convinced that terror funds would be corked completely very soon as the cash in their hold has been reduced to a waste paper.
Preliminary investigations led its origin to Pakistan's notorious spy agency Inter State. Intelligence (ISI), which according to Indian Revenue Intelligence sources, have stashed in its coffers over rupees 500 Crore worth genuine high value Indian currency notes. A huge part of these unexpected investments are being rerouted and sent to Kashmir for swapping with new currency notes, the sources added. Knowledgeable sources told Scoop News the bulk of currency used for terror funding was fake which had been printed in Pakistan's Karachi, Quetta and Peshawar mint and smuggled to Kashmir. Even the genuine currency was now a waste paper for the terrorists and any bid by them to swap rupees high value denomination notes through their over ground workers would be thwarted for which joint mechanism by Central and state agencies has been put into operation.
The decision was taken at a high level meeting chaired by Union Home Minister, Raj Nath Singh, in the Union capital with top officials of the Ministry, officials of Intelligence Bureau (IB), Research and Analysis Wing (RAW) and other Intelligence agencies on efficaciously plugging terror funding post demonetization of high value currency notes on November 8. The authorities in Union Finance Ministry, Enforcement Directorate and Revenue Intelligence besides Kashmir Desk in MHA are constantly monitoring impact on terror funding post demonetization and are obtaining regular inputs from the civil, police and banking officials in the state.
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