Suspected militants loot old notes from Kashmir bank

Police said four masked gunmen had entered into the Malpora branch at Charar-i-Sharief in central Kashmir�s Budgam district.

Suspected militants loot old notes from Kashmir bank

J&K Police on Monday said suspected militants robbed a bank in Chrar-e-Sharief area of central Kashmir's Budgam district, decamping with nearly Rs 13 lakh cash, mostly in defunct Rs 500 and Rs 1000 denomination notes.

According to media reports, the gunmen barged into the Jammu and Kashmir Bank branch at Malpora in Chrar-e-Sharief and took away cash from the counters at gunpoint.

A police official said the exact amount of the money taken by the gunmen was being ascertained, the bank officials believe the amount to be around Rs 13 lakh.

The official said police have taken cognizance of the incident and started investigations.

On November 8, Prime Minister Narendra Modi had announced the ban on 500- and 1,000-rupee notes saying that he was targeting tax evasion, corruption and forgery.  He stressed that terror attacks including those facilitated by Pakistan often include counterfeit 500-rupee notes.