Jammu and Kashmr Deputy Chief Minister Nirmal Singh wholeheartedly welcomed the central government’s decision to withdraw currency notes of Rs 500 and Rs 1,000 denominations from circulation, starting Tuesday midnight, underlining that the move will deal a blow to terror funding.
Praising Prime Minister Narendra Modi’s move, ANI quoted Nirmal Singh as saying: Only a visionary leader like PM Modi could have done this, this will directly impact terrorism as it works on hawala money.”
He added: Pakistan prints Indian currency more than they print their own, this currency ban by PM Modi will curb terror funding.”
In a major assault on black money, fake currency and corruption, Modi, in his televised address to the nation Tuesday late evening, announced that the notes of Rs 500 and Rs 1000 “will not be legal tender from midnight tonight” and these will be “just worthless piece of paper”.
The surprising and bold move sent shockwaves across the country. There were huge crowds outside ATMs as people lined up to withdraw currency of smaller denominations.
Earlier in the day, Finance Secretary Ashok Lavasa announced that new high-security Rs 500 and Rs 2,000 currency notes will be available in ATMs from November 11. The ATMs will open day after tomorrow and at many places
they will open tomorrow, he said adding new notes will be available at ATMs.