Jammu and Kashmir Bank robbed; gunmen escape with banned Rs 500, Rs 1000 notes worth Rs 11 lakh

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Updated: Nov 21, 2016 6:15 PM

The police said that 11 out of the 13 lakh that was robbed consisted of the scrapped notes. The robbers are assumed to be terrorists who were also involved in other robbery in Malpora.

Kashmir Bank Robbery, Demonetisation, Cash Chaos, Robbery News, Robbery in Kashmir, Black Money, Corruption, Crime, Note BanThe police said that 11 out of the 13 lakh that was robbed consisted of the scrapped notes. The robbers are assumed to be terrorists who were also involved in other robbery in Malpora. (Source: PTI)

It has been recently reported that four masked men with arms along with them entered into a bank and left with Rs 13 lakh largely comprising of the scrapped 500 and 1,000 note currencies. The incident took place at a state-run Jammu and Kashmir branch in Malpora which is 100 kms from Srinagar.

The police said that 11 out of the 13 lakh that was robbed consisted of the scrapped notes. The robbers are assumed to be terrorists who were also involved in other robbery in Malpora. The CCTV cameras are still to provide the footage as the bank was not sure it was working or not. As the robbery took place in the first half of the day, only 12 people were present and hopefully no one was injured.

The government, on November 9 scrapped all the old Rs 500 and Rs 1,000 notes in the wake of tax deceit, forgery and corruption. Prime Minister Narendra Modi during his speech a night before demonetisation said that the terror attacks including those initiated by Pakistan often use Rs 500 and Rs 1,000 as it is easily carried. Post the announcement, around 80 billion dollar of the old notes have been deposited in banks across the country.

The initial effect of demonetisation has effected the entire country, the government claims it to be a move beneficial in the long run. Recently PM Narendra Modi has himself assured the country that India will ‘shine like gold’ after the 50-days deadline that he sought earlier. PM has also said that there will be no strict rules regarding demonetisation and as common people are suffering, it could be mended anytime depending up on the convenience of common people.

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