IB, NIA in J&K to probe funding

With intelligence agencies having launched a full-scale investigation into the source of funding for the ongoing agitation in the Kashmir Valley, a team comprising officials from the Intelligence Bureau and National Investigation Agency has reached Srinagar in connection with the case.

Sources said the 10-member team, which is now camping in the Valley, suspects that at least `30 crore has been pumped in to fuel the violence against security forces in the state.

Following directive from Union home minister Rajnath Singh, the NIA registered a preliminary inquiry to investigate suspected transactions through which money was routed to the Valley for funding the agitation.

As was first reported by this newspaper, intelligence agencies in a report to the home ministry had raised suspicion that money through the hawala network is being sent to the Valley, possibly by subversive elements to spread the violence.

The NIA and the IB are already probing the involvement of terror outfit Lashkar-e-Tayyiba in the Kashmir violence, and will now further expand its ambit to look into the funding aspect.

Initial investigations, sources added, have revealed that of total Rs 30 crore, most of the money came from the Middle East during the month-and-a-half long unrest in the Valley.

“While most of the money came through the hawala network, it seems some funds came through banking channels also. We have identified some accounts in which large transactions occurred from overseas over the last few days. The team is sent to Srinagar to investigate this. It may also question bank officials,’’ a senior intelligence official said.

The home ministry has directed the agencies to ensure the funding channel is blocked, which could “drastically reduce the level of violence”.

So far, 65 people have died in the agitation ever since Hizbul Mujahideen commander Burhan Wani was shot dead in an encounter by security forces on July 8.

“The investigating team will camp in Srinagar for a few days. They are not only looking into the flow of funds but will also have to ensure that this channel is choked completely. Some sympathisers of subversive groups operating from the Middle East may be pumping in money for the turbulence,’’ the official added.