Demonetisation: Sharp fall in cash thefts in Kochi

It seems the demonetisation policy of Centre is not only effective to rid the country of unaccounted money and corruption, but also crimes as there is a sharp fall in the number of thefts involving loss of cash. 
 

Since November 8, the day on which Union Government announced demonetisation, thefts and burglary involving loss of cash has reduced in Kochi, police officials said. It seems the thieves do not consider ₹500 and ₹1000 notes as valuables. Only two cases of burglary involving loss of cash were reported in the district within last two weeks, police officials said. 
 

Demonetisation along with special squad constituted by the police to check organised crimes in Kochi seems to became more effective with the new policy intervention of Centre. The only theft, involving loss of banned currency, reported in the district after demonetisation was the one at Kizhakkambalam, where a businessman lost ₹1 lakh and 57 sovereigns of gold.
 

In another incident, a Rajasthan native lost ₹3.5 lakh and 1.75 kilogrammes of gold from his apartment in Ernakulam North. However, it is not clear whether the lost currency belonged to banned notes. 
 

"They are aware of the fact that people have run out of cash and the money stacked in safe custody will be banned currency. It seems the muggers and robbers do not want to take a chance. The thieves keep on getting their hands on banned ₹500 and ₹1000 notes, and it's not easy to get these notes converted as banks apply an ink mark on the finger," a senior police officer said. 
 

However, he also said that only cash related robberies have declined and there was no reduction in other crimes like chain-snatching. 

• demonetisation
• currency ban
• theft reduced in Kochi