Editor Desk
Nov 14, 20161 min
Five days ago India suddenly banned more than 80% of its rupee notes, launching a currency exchange program that has been dogged by logistics snafus, poor banking infrastructure and intense demand for the new money. Prime Minister Narendra Modi said last week the ban on old 500 and 1,000 rupee notes would strike a blow against corruption and tax evasion. The shock move has been hailed by supporters as a "masterstroke." Citizens rushed to swap the banned notes -- India's largest -- for new bills issued by the Reserve Bank of India.