Anti-Maoist operations in Chhattisgarh’s Sukma district have made a shocking discovery that could have serious implications for the local economy: for the first time, security forces have found equipment used to print counterfeit currency in a Maoist camp.
This indicates that major security operations in the region have strained rebel financing, but if these counterfeit currencies are used and circulated in the local market, they could pose a major problem.
The surprising discovery was made during a joint search operation conducted by Sukma police, District Reserve Security Force and CRPF in the Kolaziguda forests yesterday.
District police chief Kiran Chavan told NDTV that the raids were launched based on information that the Maoists were printing counterfeit currency notes in the forest. The rebels fled but police found a note printing machine, ink, stencils and fake notes of 50, 100, 200 and 500 rupees in their hideout. Several other items were also seized, including guns, walkie-talkies and a large amount of explosives.
“The way the currency notes are being printed indicates that the Naxalite organisation is facing a cash crunch. Their operations in the interior have drastically eroded their funds, forcing them to resort to printing counterfeit notes,” a senior officer said.
“Maoists are known to purchase supplies from weekly village markets. Their use of counterfeit currency in these transactions could destabilize the local economy. To counter this, local authorities and security forces have launched awareness campaigns in villages, urging residents to be vigilant and reject suspicious currency.”
Traders and hawkers, especially in remote areas, have been advised to check the notes thoroughly before accepting them.
According to sources, the Maoists adopted a new tactic to tackle the organisation’s financial woes by printing fake currency notes starting in 2022. At least one committee member from each district committee was trained to counterfeit currency notes, which were then used in local markets and funnelled into the cash system.
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