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09

Narendra Modi Bans India’s Largest Currency Bills in Bid to Cut Corruption

By Tony Seruga

India’s prime minister, Narendra Modi, who campaigned on an anticorruption platform, announced a ban on the country’s largest currency bills. CreditAmit Dave/Reuters

NEW DELHI — Prime Minister Narendra Modi fired a direct shot at India’s endemic corruption with a surprise move on Tuesday to ban the country’s largest currency bills, starting the next morning.

The ban is intended both to curb the flow of counterfeit money and to take aim at terrorist organizations that rely on unaccounted-for cash. It is also expected to help the government clean up a system that has relied on cash to pay bribes and to avoid taxes…

Narendra Modi Bans India’s Largest Currency Bills in Bid to Cut Corruption

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