India's Prime Minister Narendra Modi has outlined his controversial plan to make India a cashless society. Indians are already in arms following his recent and sudden decision to ban the old 500 and 1,000 rupee banknotes. They ceased to be legal tender India the 9th November, although the old 500-rupee note was replaced an updated version. The government claimed the move was an effort to stop the banknotes being used to fund terrorism, as well as being a crackdown counterfeit money India. The ban means 80 per cent of the country's currency has been withdrawn circulation and business has been brought to a virtual standstill. It is very unpopular most Indians.
Mr Modi went a step further Sunday when he called a cashless society. He said a televised speech: "I want to tell my small merchant brothers and sisters, this is the chance for you to enter the digital world." He added: "Learn the different ways you can use your bank accounts and Internet banking. Learn how to effectively use the apps various banks your phones. Learn how to run your business cash. Learn about card payments and other electronic modes payment….A cashless economy is secure. It is clean." He addressed India's more tech-savvy people declaring that: "All the youth India can do it very quickly, and a month, the world can see a modern India.
