Demonetisation, a brave step: PM Modi

On demonetisation anniversary, Prime Minister Narendra Modi highlighting the benefits of the same shared a video from his twitter handle.

The seven minutes long video underlines the need and importance of ban of high value currency.

The video depicts demonetisation as one of the bravest steps taken by Prime Minister Modi after coming to power in 2014.

The video says that the country was suffering from the menace of corruption and black money before 2014 and the decision of demonetisation was a step to 'clean the Indian economy.

The video claims the poor and the commoner was not troubled with the decision as they always had faith that an 'honest government' is fighting for them.

The video further claims, that the decision broke the backbone of terrorism and naxalism in the country and reduced stone pelting activity in the Kashmir Valley.

Prime Minister appreciated the people for supporting the decision to eradicate corruption and black money.

"I bow to the people of India for steadfastly supporting the several measures taken by the Government to eradicate corruption and black money," he Tweeted.

"125 crore Indians fought a decisive battle and WON. #AntiBlackMoneyDay," he added.

On this day last year the old Rs 1,000 and Rs 500 notes - 86 percent of currency in circulation - were scrapped after Prime Minister Modi made an unexpected announcement during a surprise television address.

He also gave the nation's 1.3 billion people a 50-day window to either deposit them into bank accounts or exchange them for minted notes.