Demonetisation: In Valley, terrorists hungry for cash told to target banks

New Delhi: Handlers of terror operatives from across the border in Pakistan Occupied Kashmir (PoK) are now directing cadre in the Kashmir Valley to target banks in a bid to generate more resources for their activities as they are said to be facing a major cash crunch following Centre’s demonetisation drive.

Wireless intercepts available with the security agencies reveal that handlers in PoK are asking their local commanders in the Valley to loot banks for financing those militants which are targeting security personnel.

In fact, security agencies are now investigating the possibility of whether money looted from two banks in Pulwama and Charar-e-Sharif in the last few days was used in Saturday’s attack on an Army convoy in Pampore in which three security personnel were killed.

“We have some information that money robbed from the two banks may have been used for financing Saturday’s attack. A detailed investigation is being carried out. There is no doubt that post demonetisation, terror groups in the Valley are facing a major shortage of cash as the hawala network has been badly hit. Since, militants are given cash incentive or rewards for killing security personnel there is a possibility that money looted from banks is being used,’’ a senior official said.

The Centre has already directed the state that adequate security cover should be provided to all bank branches in the Valley and vehicles transporting cash.