Nepali credit cards being used in J&K

The department has also contacted banking regulator RBI to ascertain the identity of banks and their affiliated ATMs being used by individuals or groups to draw this huge sum.

Sources say the department will probe to ascertain the total amount of money withdrawn through these channels and forward the suspicious transactions to enforcement agencies like the Intelligence Bureau,CBI and DRI for further action.

Omar had said in the national capital on Saturday that his government is contemplating putting in place a more concrete mechanism to check inflow of foreign funds to protestors in the state.

“Yes,money is coming through various channels in the state. We are going to put in place some more concrete steps to stop the flow of funds,” Omar had said.

According to sources in the Finance Ministry,during the probe,agencies like the Enforcement Directorate and the Financial Intelligence Unit will also be brought in the loop to check violation under the Prevention of Money Laundering Act.

“This could lead to a conclusion where it could be ascertained if the money was used for illegal purposes. The probe is on,” a senior Revenue Department officer said.

The I-T department has also found that international monetary gateways are being used by the internet servers in the Kashmir valley to obtain money.

Sources say while withdrawing money by credit cards by swiping them in ATM machines the interest on the card starts getting levied from day one but an individual can draw any amount of money through this way.