Former Militant’s Claims Revive Debate Over Alleged Fake Currency Network in Kashmir

Fresh controversy has emerged after former militant Mushtaq Ahmad Bhat made explosive claims regarding an alleged counterfeit currency network linked to Pakistan-backed operations in Kashmir. Bhat, who later worked as an asset for the Indian Army, stated that the fake currency operation portrayed in Dhurandhar was inspired by real events. According to him, he played a key role in establishing the network in Peshawar, contributed financially to its operations, and supervised the circulation of counterfeit notes across parts of South Kashmir.

His remarks have once again brought attention to the alleged Khanani network, which Indian security agencies have previously accused of involvement in terror financing and economic disruption activities. While some observers cite Bhat’s past cooperation with Indian security forces as a reason to take his claims seriously, others remain cautious and argue that the allegations require independent verification. The statements have nevertheless reignited debate over the role of counterfeit currency networks in funding militancy and destabilizing regional economies.