PM Narendra Modi Hits Multiple Targets With Strike Against Black Money

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PM Narendra Modi Hits Multiple Targets With Strike Against Black Money
PM Narendra Modi Hits Multiple Targets With Strike Against Black Money

In a bold move against corruption and unaccounted wealth, Prime Minister Narendra Modi has acted to arrest the drift in his popularity and place constraints on election funding, which will benefit him in crucial state elections next year.

But Modi’s late-night announcement of a crackdown on unaccounted wealth through the withdrawal of high-denomination bank notes left Indians with little time to prepare for the impact of the most extensive anti-graft operation in almost four decades.

With 500 ($7.50) and 1,000 rupee notes banned as of midnight Tuesday until the government begins circulating new notes, including a 2,000 rupee note, those who operate in India’s extensive cash economy were struggling with the simplest transactions.

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