With immediate effect, the 500 and 1000 rupee notes are no longer valid – a decision that’s been met with shock and frustration across India. The government hopes to crack down on counterfeiting.
The Indian premier has hailed the scheme, saying "it will become an example" for the world. But others are critical, warning that similar initiatives had been bogged down by lack of infrastructure and state corruption.
Indian Prime Minister Narendra Modi declared 500 and 1000-rupee banknotes as invalid overnight. Reactions from Indian citizens to the decision ranged from a panic of buying to calmly accepting the inconvenience.
Almost two months after Imran Khan took office as Pakistan's PM, reality is knocking hard on the doors of his government. Wracked by a raft of financial challenges, the country has become an economic basket case.
Prime Minister Narendra Modi will seek a second term in office in 2019. His four years at the helm have been mired in controversies, with the PM receiving praise as well as heavy criticism. Murali Krishnan reports.
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