Stating that Pakistan which has been pumping fake currency to India through various channels will be receiving set back with the scarping of the currency of 500 and 1000 notes, the Jammu and Kashmir Deputy Chief Minister Dr. Nirmal Singh Wednesday said that Narender Modi led government have taken a historical decision of scraping the currency.“This historical decision will definitely yield the results by a strong check on the black money and the elements in Jammu and Kashmir will stop getting money from Pakistan, which would not be able to pump the fake money,” Nirmal Singh told KNS over phone from Jammu.He further said that Pakistan was in a habit of printing Indian currency much more than the Pakistan currency to facilitate the elements responsible for the turmoil and other untoward incidents in Jammu and Kashmir. “The fake currency inventory with the elements will get neutralized and they must be worried at this point of time,” the Deputy CM maintained. He further elaborated on the issue by saying that the decision would come much handy for economic growth of Jammu and Kashmir and the real estate prices would be stable. “The banks in Jammu and Kashmir would start operations in a day or two and the clients would get the new currency notes. People should cooperate on the decision and should not get worried. As in overall scenario this is for the benefit of the general masses for economic growth,” Singh maintained.
He said that the Jammu and Kashmir government welcomed the bold step taken by the Prime Minister which will help unearth unaccounted money as well as counterfeit currency. “We feel proud of PM Narendra Modiji's strike against black money and corruption. His decision to discontinue Rs 500 and Rs 1000 rupee note will immensely help in eliminating corruption. On behalf of the Jammu and Kashmir government, I compliment the Central government and the PM for taking tough but timely and path-breaking measures,” he said.It is to mention here that Prime Minister NarendraModi Tuesday announced demonetization of Rs 500 and 1000 currency notes.In his televised address, Modi has said people holding notes of Rs 500 and Rs 1000 can deposit the same in their bank and post office accounts from November 10 till December 30.Modi has further said the notes of Rs 500 and Rs 1000 “will not be legal tender from midnight tonight” and these will be “just worthless piece of paper.” However, he said that all notes in lower denomination of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 2 and Re 1 and all coins will continue to be valid.He also announced that new notes of Rs 2000 and Rs 500 will be introduced. (KNS)