Demonetisation led positive impact on the nation: Centre

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Demonetisation of higher denomination, rolled out in November last year, had a positive impact on curbing the menace of most theatres of violence in the country, according to Union Minister of State for Home Affairs Hansraj Gangaram Ahir.

“As per the reports of the agencies, the demonetisation of Rs 500 and Rs 1,000 denominations resulted in a significant positive impact on most theatres of violence in the country,” said the minister in a written reply to a question in Lok Sabha.

He further said that since illegally smuggled currency fund the major chunk of terror activities, Centre’s decision in scrapping the calling out demonetisation had invalidated most of the cash held by terrorists groups.

“The demonetisation also led to an instant extinguishment of Pakistan-printed high-quality fake Indian currency notes. It also adversely affected the hawala operators,” said Ahir.

Prime Minister Narendra Modi led government scrapped Rs 500 and Rs 1,000 notes in November last year.This drive was initiated to fight against the menace of black money and promote the usage of digital payments in the country.

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