As demonetization completes one year, below are listed it’s after effects in Jammu and Kashmir :
- Stone-pelting incidents in Kashmir reduced 75 per cent given this fact and the drop in hawala transactions, demonetisation has dried up funds used for organised stone-pelting in Kashmirand paying overground terror supporters in the state.
- The shortage of funds to terror organisations had led to “a lot of attempted bank robberies in valley. This clearly shows that demonetisation has affected the flow of funds for terrorism.
- The chamber of commerce representing the industry of the state opined in news report that since the announcement of demonetisation was a “hurried decision, it failed to plug the escape routes, raised inflation and promoted corruption at all levels”.
- 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 operationsin the Valley.
- Intelligence officials claim that terrorism-related violence in J&K dipped by 60% post the cash ban.
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- 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.