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"I am happy to see that the people of India are bearing temporary difficulties for the long-term gain of the nation," Modi wrote in an article posted on Linkedin.com.
"In the 21st century India, there is no place for corruption. Corruption slows down growth and takes a toll on the dreams of the poor, neo-middle class and middle class," he said.
The Prime Minister urged people to switch over to mobile banking and mobile wallets to root out corruption.
"I urge all of you, particularly my young friends, to lead the change and inspire others to turn towards cashless transactions. This will set the strong foundations of an India where there is no place for corruption and black money," he said.
"Large volumes of liquid cash are a big source of corruption and black money," Modi added.
Terming the government's November 8 demonetisation a "unique opportunity", he said the trading community had got a historic chance to upgrade themselves and embrace more technology which, he claimed, will bring greater prosperity.
"When I made the demonetisation announcement on November 8, I was aware that the people of India will face inconvenience. But I requested the people to bear this short-term pain for long-term gain," the Prime Minister wrote.
"Today, we live in an era of mobile banking and mobile wallets. Ordering food, buying and selling furniture, ordering a taxi... all of this, and lot more, is possible through your mobiles. Technology has brought speed and convenience in our lives," Modi said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)