New Delhi: Defence Minister Manohar Parrikar has hailed the government’s move to demonetise two big value currency notes of Rs 500, Rs 1000 and said, “Since the demonetisation has taken place, the terror funding has come down to zero, as there has been no stone pelting on security officials.”
Parrikar thanked the Prime Minister Narendra Modi for this daring move which he said will also help in cracking down on narcotic drugs. The Defence Minister also said that sponsors of terrorism will be affected by demonetisation.
According to reports, fake currency is one of the most used methods to fund terror groups and their activities, therefore following the government’s move to ban bid value denomination currency to crack down on such activities.
In a surprise move, Prime Minister Narendra Modi in his address to the nation on Tuesday had announced that in order to put a menace and crackdown on black money, the government will demonetise Rs 500 and Rs 1,000 currency notes and they will be replaced by new Rs 500 and Rs 2,000 notes which will be available in the ATMs from November 11.
However, PM also said that there was no need to panic as people will be able to deposit or exchange banned notes through Banks, Post Offices between November 10 and December 30.
But after the move by the government, people are standing in long queues waiting outside banks, ATMs, Post Offices to deposit, exchange the demonetised currency and facing inconvenience due to shortage of supply of the new currency.