Demonetisation will end terror funding, pull down interest rates: Ramdev

NEW DELHI: Terming Prime Minister Narendra Modi's demonetisation move as "historic" and in the interest of the country, Baba Ramdev on Monday said  those opposing it are committing treason. "This decision is taken in the interest of the country, those opposing demonetisation are committing treason. It is the biggest assault on terror funding till date. Congaturations to the Prime Minister for taking such a tough decision," he added. Addressing a Press Conference, Ramdev said the move dealt a severe blow to corruption, black money and terrorism. He said Pakistan was printing counterfeit currency to fund terrorism and to create economic instability in our country. "The currency ban has hit Pakistan sponsored terror activities. Our neighbor has been funding terrorists through counterfeit currency and sending them into India. With this step, the government dealt a body blow to their funding," he said. The Yoga Guru said that as the money is now flooding into banks, it will pull down interest rates. "Demonetisation of Rs 500 and Rs 1000 banknotes will lead to softening of interest rates by banks, thereby buying homes will become a lot easier. It will reduce the interest rates to 7-8 percent," Ramdev said. He said the "historic" decision will drive the Indian economy and pave the way for prosperity as all the black money is going to be unearthed. Earlier, Ramdev claimed he had made a proposal for demonetisation of these currencies to former Prime Minister Manmohan Singh, who despite seeing logic in it had "politely" turned it down. He had termed the Centre's decision "financial surgical strike" which will help deposit money in the accounts of poor from the black money unearthed.