Gold trail emerges from erstwhile Maoist stronghold

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Key points

• This is borne out by "the fact that we have recovered lakhs of rupees in the old 1, 000 and 500 notes in recent months, " remarked Vivekanand.
• Tata Sons IPO may spotlight some low-key crorepatis He suggested the "Maoists failed to exchange all their cash for the new currency after demonetisation." Lost Gold.
• At present, a 10-g gold biscuit costs concerning ₹1.5 lakh in India.
• Gold biscuit recovery from Maoist supply dumps: Risking life but not wealth, rebels picked safe haven asset.
• From these dumps, authorities have recovered at least 8 kg of gold previously two years.

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Gold biscuit recovery from Maoist supply dumps: Risking life but not wealth, rebels picked safe haven asset. By Shantanu Nandan Sharma. ET BureauLast Updated: Sep 20, 2026, 06: 30: 00 PM IST.

Notably, a Maoist dump is a concealed underground cache, usually deep in the forest and sometimes placed in plastic drums or other containers before being camouflaged with soil, wood and fallen leaves. From these dumps, authorities have recovered at least 8 kg of gold previously two years. Listen to this article in summarized format. Unlock AI Briefing and Premium Content. New Year Offer 24 Hours Left. Subscribe Now Already a member? Sign In.

Raipur: The recovery of sizeable quantities of gold biscuits from Maoist supply dumps throughout Chhattisgarh's Bastar region points to a strategy the insurgents were using to protect their cash wealth: investing in gold as a hedge against the risk of a demonetisation-like shock, a senior police officer informed ET. Authorities have recovered at least 8 kg of gold over the last two years – almost all of it in the form of biscuits in recent months – from dumps in remote areas, including Basaguda and Kutru in Bijapur district, and Barsoor in Dantewada. A Maoist dump is a concealed underground cache, usually deep in the forest and sometimes placed in plastic drums or other containers before being camouflaged with soil, wood and fallen leaves.

Police expect more such recoveries as security forces intensify their anti-insurgency operations in Bastar's interior pockets. The administration had set March 31 as the deadline for eliminating Naxalism. "After the note ban, the Maoists realised it would be prudent to keep part of their funds in gold. Gold is a liquid asset and can be easily converted into cash whenever required, " Vivekanand, extra director general of police (ADGP) in charge of anti-Naxal operations, informed ET. Both Bijapur and Dantewada districts are part of Bastar division. Live Events.

This is borne out by "the fact that we have recovered lakhs of rupees in the old 1, 000 and 500 notes in recent months, " remarked Vivekanand. While others held a more unusual combination: AK-47s and gold biscuits, some dumps contained only arms, he continued.

At present, a 10-g gold biscuit costs concerning ₹1.5 lakh in India. The purity of the recovered gold and the dates of purchase are not known. "We have also learnt that there were occasions when a leader was handed a gold biscuit instead of cash to meet specific expenses, " Vivekanand remarked. As only some members of the central committee-several of whom were killed in recent operations-knew their locations, nevertheless, two residents in the know noted numerous of the dumps may never be discovered. Ajit Agarkar: A tenure defined by decisions that supported shape next generation of Indian cricket "The police are now taking the assist of Maoists such as Papa Rao-a special zonal committee (SZC)-ranked cadre-to locate more dumps. But they are not senior enough to know the exact locations, " remarked one person. The individuals cited requested not to be named as they are not authorised to speak to reporters. In the CPI (Maoist) hierarchy-a party now reduced to a near-defunct entity-the SZC is a rung below the central committee. Add Now!

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For now, gold trail emerges from erstwhile Maoist stronghold remains the part of the story worth watching, and further updates are likely as more details are confirmed.