Pakistani sponsored terrorists barged into the Jammu and Kashmir Bank branch in Central Kashmir?s Malpora village looting Rs 12.45 lakh at gunpoint. Militants, however suffered a huge embarrassment when they realized that most of the notes they had robbed were old currency notes that have been declared obsolete after the demonetization process.

Located on the border of Budgam and Pulwama, the bank has been quite vulnerable to robberies, it has never been given any proper security mechanism which police sources said might have been exploited by the Pakistani sponsored militants for the heist. There were no security cameras installed in the branch.

The heist comes at a time when Pakistani establishment has been hit hard by demonetization and finding it difficult to finance terror in Kashmir. Sources said ?terror finances? have shown signs of drying up in the wake of demonetization.