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Those in the business of black money and other underground activities were facing problems spending the country's highest denomination currency -- the Rs 2,000 bank note, Defence Minister Manohar Parrikar said on Sunday,
"The Rs 2,000 (currency) notes have no value in the market today.
Because they (anti-social elements) have problems spending it, basically terror funding through fake currency, black money, crime money has been instantly controlled," he said, while addressing a meeting here of the party's women workers.
"In Mumbai, much of the crime has reduced. Availability of new notes is nearly zero and, therefore, black money is gone, extortion money is gone, terror money is gone, terror funding -- both fake and real -- which were easy to transmit because of high denomination notes are now facing obstacles," he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)