Demonetisation effect Burglers embarassed after the loot 0%/100% 70

Demonetisation effect Burglers embarassed after the loot

Written by Aravind   |   Posted: 11/22/2016 12:03 PM IST

In Budgam district of Jammu and Kashmir a bank was looted by some unidentified gunmen on Monday. They entered the Jammu and Kashmir Bank branch at Charari-e-Sharif in Budgam and robbed around Rs 12 lakhs, police said.

Four masked gunmen in a WagonR came to the branch and walked into it. They slapped the cashier and asked him to hand over the cash and threatened of the consequences to the bank staff, if they do not obey them. They took away the money at gunpoint and escaped in the same car.

The climax of the story is that All the currency notes they robbed, around Rs 11 lakh, of the Rs 12,45,240 turned out to be de-registered ones.

"There was no security guard at the bank and the gunmen were armed to the teeth. Investigations have been fast-tracked to track down the militants," said a police officer.

"This is the first heist in Jammu and Kashmir after demonetization. It comes at a time when terror financiers have been hit hard by the move and terror funds are drying up," said a police officer.

"I don't think it will serve any purpose for them except if it is already pre-planned. They will have to divide the money into smaller amounts, say Rs 1,000 and Rs 2,000. They have time till December 31. In smaller parts, say Rs 2,000 or Rs 3,000, there is a possibility of getting it exchanged in connivance with relatives or friends who may charge a discount (commission). But it is a huge task and need lots of people. If they deposit the money in bulk, they would be caught," said Professor Nissar Ali, noted economist and former director of J&K Bank.

"If they took old Rs 500 and Rs 1,000 notes they are idiots. If they escaped with bundles of 100s, how the hell did they carry the bags and run?" tweeted Omar.

By Premji

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Tags : Demonetisation  Jammu and Kashmir  terrorism  Bank loot  

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