New Delhi: Following the deadly terrorist attack in Pahalgam, India is preparing to launch two strategic financial offensives against Pakistan aimed at choking its alleged support for cross-border terrorism, media reports.

According to sources, India is likely to renew efforts to have Pakistan re-listed on the Financial Action Task Force (FATF) grey list, reported India Today.

In addition, India plans to raise objections over the $7 billion assistance package granted to Pakistan by the International Monetary Fund (IMF), arguing that the funds may be diverted towards activities linked to terrorism, said the report.

Pakistan was earlier placed on the FATF’s grey list in June 2018 and remained there until October 2022. A return to the list would increase international scrutiny over its financial system, potentially discouraging foreign investment and limiting access to capital.

Modi gives military full freedom

Prime Minister Narendra Modi has authorised the armed forces to independently decide the “mode, targets, and timing” of India’s response to the Pahalgam attack, which was directed at Hindu pilgrims.

The decision was taken during a high-level meeting last Tuesday with Defence Minister Rajnath Singh, National Security Advisor Ajit Doval, and Chief of Defence Staff General Anil Chauhan.

Modi reiterated that crushing terrorism is a national resolve and said he has “complete faith and confidence” in the Indian military.

After the Pulwama attack in 2019, India had carried out air strikes on Jaish-e-Mohammed-run terror camps in Balakot, Pakistan, with alleged support from the Pakistani military.

Pahalgam massacre

The terror attack on April 22, 2025, was carried out by The Resistance Front (TRF), a proxy of Pakistan-based Lashkar-e-Taiba (LeT).

Victims were forced to recite Islamic verses and strip to verify their religious identity before being executed in front of their families—including women and children.

The killings triggered national outrage and sharply intensified tensions between India and Pakistan. In immediate retaliation, India suspended the Indus Waters Treaty, closed the Attari-Wagah border crossing—vital for bilateral trade and civilian movement—and expelled Pakistani diplomats.

Pakistani visa holders in India were ordered to leave the country within 48 hours.

Modi assures terrorists will pay unimaginable price

Speaking at a rally in Bihar’s Madhubani on April 24, Prime Minister Modi vowed that those behind the attack would be hunted down and punished.

“From the soil of Bihar I tell the whole world that India will identify them and punish every terrorist and their backers. We will pursue them to the end of the earth. India’s spirit will never be broken by terrorism. Terrorism will not go unpunished,” he said.

He emphasised that justice would be delivered and mourned the nationwide grief over the killings. “Some of the victims speak Bengali, some Kannada, some Marathi, some Gujarati, some Oriya or some from the land of Bihar. Some lost their brother, some son, some life partner. But the attack is not just on the innocent tourists, but on the soul of India.”

“From Kargil to Kanyakumari we have the same anger, same grief,” he said, stressing that those who masterminded the attack would be dealt with in a manner that exceeds their imagination. He also said it was time to dismantle the few remaining hubs of terrorism.

“Anyone who believes in humanity is with us,” Modi added, expressing gratitude to world leaders for their support.