- Alive correspondent 07-01-2017
The call traffic between hawala agents in India dropped almost by half post demonetisation, says a recent assessment by the central intelligence agencies. Payments to the end beneficiary of hawala deals are traditionally in cash, with Rs 500 and Rs 1,000 being the favoured denominations.
Payments to the end beneficiary of hawala deals are traditionally in cash.Intelligence officials claim that terrorism-related violence in J&K dipped by 60% post the cash ban
Similarly, northeastern insurgent groups are finding it difficult to procure arms and ammunition from across the border
High-value notes on November 9 severely affected hawala operators, and going solely by call traffic, their business may be down by 50%, said an intelligence source.
Funds are mostly sourced in counterfeit currency, comprising high-quality fake notes that Indian agencies suspect are printed at the Pakistan government printing press in Quetta and its security press at Karachi.
Given this fact and the drop in hawala transactions, demonetisation has dried up funds used for organised stone-pelting in Kashmir and paying overground terror supporters in the state.
"The overground supportbase of terrorists depends on instant cash payments. A weakened OGW (overground worker) network due to demonetisation has resulted in several successful counterterrorist operations in the Valley over the past several weeks," said the officer.
A sharp decline in corrupt deals and price correction in the artificially skewed real estate market (by the land mafia) in J&K are among the other positives witnessed in the state in the aftermath of demonetisation.