Modi urges bill-swap success amid cash crunch

14 Nov, 2016

Prime Minister Narendra Modi Sunday made an emotional appeal to people to make India graft-free, as chaotic scenes erupted outside banks nation-wide after high denomination notes were pulled from circulation. Modi surprised the country Tuesday night when he announced that 500 ($7.50) and 1,000 rupee notes would no longer be legal tender, in a design to tackle widespread corruption and tax evasion.
Customers can exchange their old bills for new ones or deposit them in their accounts until December 30. But even after five days of the announcement, desperate people continued to line up Sunday for hours outside banks and ATMs, with many running out of cash by the afternoon and prompting anger against the government's latest anti-corruption measure.
"People are going through great pains. I feel that pain. This scheme is not born from arrogance. I have seen such adversities up close. I understand the trouble everyone is facing," Modi said at an event in western Goa state.

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