The demonetization of ₹ 500 and ₹ 1000 currencies seems to have made a profound impact on Communist guerrilla groups in India.

 

Soon after PM Narendra Modi’s call for demonetization on 8th November, more than 546 Maoists have surrendered. Though many surrendered during police and CRPF raids held before the announcement of demonetisation in Chhattisgarh, Odisha, Andhra Pradesh, Bihar and Madhya Pradesh and other states. But after 8th November - 469 Maoists have surrendered.

 

70% of the surrendered Maoists are from Odisha.

 

This is a new record in the last six years. Between 2011 and 2016 around 3766 Maoists have been arrested. In 2016 alone, 1399 Maoists have been detained across the country.

 

The cancellation of high value currencies seems to have had an adverse effect on the financial sources of these organisations. They are facing a shortage of money to purchase weapons, medicines and other daily needs.

 

Sources from the CRPF say that demonetisation has adversely affected their developmental works also.

 

Home minister Rajnath Singh hinted on Friday that Maoists are making desperate attempts to survive after the demonetisation. "They are trying to exchange their old notes through local contractors, businessmen and sympathisers,"  he said.