The Union Government’s move to demonetise Rs 500 and Rs 1000 will no doubt check the growth of black money but would also help India fight the flow of fake currency notes into the country from the neighbourhood used for terror funding. Checking “economic terrorism” could be a uphill task especially when the flow and the sources are outside the geographical boundaries of the country. The scourge of cross-border terrorism has assumed highly destructive proportions and there is an “urgent” need to check safe havens and sanctuaries enjoyed by terrorists. Not only this the growth of parallel economy has jacked up the prices which indirectly or directly has ignited inflation in essential commodities prices resulting even the common man’s Moong Dal has become one of the most expensive ones. For the last few years, the scourge of terrorism directed from across borders has assumed highly destructive proportions and represents the single biggest threat to peace, stability and progress. India has flagged the urgency to call a halt to all sponsorship, support, safe havens and sanctuaries to terrorists. The recent initiative announced by the Prime Minister to cancel as legal tender high denomination notes of Rs 500 and Rs 1000 will, among other things, help curb the financing of terrorism through fake Indian currency notes and the use of such funds for subversive activities. India advocates a policy of zero tolerance to terrorism…. However, there is a need for the international community to come together with a sense of unity and purpose to eliminate this scourge. Investigations into past terror conspiracies and confessions by arrested terror operatives have more or less reinforced the fact that actors (both State and non-state) in Pakistan are solely responsible for printing and smuggling fake Indian currencies through various channels to fuel terrorism and criminal activities inside India. Large portions of funding for Kashmir- centric Hizbul Mujahideen comes from fake currency cartels based in Pakistan. The March 2011 arrest of HM operatives in Delhi proved the point that the Kashmir-based militant group has been running a fake Indian currency notes (FICN) operation with Pakistan’s connivance. India would be able to check the terror funding menace for some time but what is to be seen is will it help in eradicating the economic scourge?
