J’khand naxals suffer loss of Rs 80 crore

Several extremist groups in Jharkhand were reported to have incurred losses to the tune of Rs 80 crore following the demonetisation decision of the Central government on November 8 last and thus suffered a body blow, a top police officer said on Monday.

The ultra groups are desperate ever since the Narendra Modi-led government had decided to demonetise Rs 500 and 1000 currency notes from the midnight of November 8 last, which had an adverse impact on the activities of naxal and extremists group in the state, additional director general (ADG), Jharkhand, R K Mallick said.

Quoting an intelligence report, he said at least Rs 80 crore cash of the naxal groups has thus been destroyed due to demonetisation. The ultra outfits have weakened as their major economic system was destroyed post-demonetisation, which prompted the naxals to indulge in looting cash in desperation, going against the Maoist ideology, Mallick claimed.