"To control the menace of terrorism, separatism and Naxalism, the Prime Minister took the demonetisation decision.
"However, some people are making fun of it by terming it as 'nasbandi' (vasectomy). If we have cut anyone's 'nas', it is that of terrorists, Naxalites and people who hoard black money," Rajnath said.
He said the decision had been taken in the larger interest of the country, and appealed to people to cooperate with the move.
"Prime Minister has stated that he needs 50 days and after that the situation would improve," Rajnath said.
"There is no dearth of people in India who want to sacrifice their life for the country. No power in the world can think of harming the integrity of the nation," he said.
On the occasion, Singh also remembered the sacrifice of freedom fighters who laid down their lives in service of the country.
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