Chhattisgarh: Police seize old currency worth Rs 1.2 crore in Maoist-hit Bastar

Police recoverd old notes worth Rs 1.2 crore on Thursday during a raid in Chhattisgarh's Maoist-hit Bastar district.

The recovery came just a days before the December 30 deadline for depositing scrapped currency.

According to a PTI report, Maoist activities are likely to suffer a major setback following the scrapping of Rs 500 and Rs 1,000 notes as the ultras may find it difficult to dispose of their cash, apparently in hundreds of crores, concealed in insurgency-hit regions of Chhattisgarh. 

According to sources, Naxals have stashed over Rs 7,000 crore at their dumps in Bastar region.

Following the move, the state police have beefed up security at banks, ATMs and other economic establishments in the insurgency-affected pockets, particularly Bastar.

(With inputs from PTI)