The demonetisation move by the Centre has led to a big blow for Maoists activities as the cash fund in between Rs 50 crore and Rs 100 crore parked with the Central Committee of CPI (Maoists) going out of circulation.
The demonetisation move by the Centre has led to a big blow for Maoists activities as the cash fund in between Rs 50 crore and Rs 100 crore parked with the Central Committee of CPI (Maoists) going out of circulation, a surrendered Maoist has told the police in Nagpur. He said that major chunks of the cash were collected from contractors and businessmen and also from funds collected from people in villages under their influence, a report in ‘The Indian Express’ has said.
Ravindra Kadam, Inspector General of Police (Nagpur range) was quoted by the paper as saying that the move would not only cripple their underground activities but also their urban funds and they would have no other option than to put on hold most of their costlier budget programmes. According to the information received by the police from the Maoist, the north and south Gadchiroli divisions of CPI (Maoists) collect around Rs 15 crore annually, of which nearly Rs 13 crore to Rs 14 crore is the money extorted from contractors.
There are also several other divisions in the party collecting funds that could go up to at least Rs 50 crore annually. The funds collected in last several decades could be even up to Rs 100 crore.
The report added that any attempt by the party to get currency notes converted into lower currency notes would be very tough as the window available up to December 30 is too small.
In the meantime, police in Gadchiroli have put a plan in place check any suspicious bank transactions in the district. Officials are keeping close watch on those turning up at banks to deposit money in Rs 500 and Rs 1,000 notes, I-G (Anti-Naxal Operations) Shivaji Bodkhe told the paper.