The Indian prime minister, Narendra Modi, has urged Indians to give him more time to resolve a cash crisis that followed the withdrawal of high-value notes, insisting the shock move would benefit the poor in the long run.
His comments came as the government said it was increasing a weekly cash withdrawal limit and taking steps to help people in remote areas access money.
There have been huge queues outside banks and ATMs since they reopened last Thursday, two days after Modi announced that 500 and 1,000-rupee notes, worth around £6 and £12, would no longer be legal tender in a bid to tackle corruption and tax evasion.
Indians rely heavily on cash for daily transactions and those living in rural areas or who do not have bank accounts have been hit particularly hard.
Modi said he had been “pained” by the hardships people were facing, but insisted the move would ultimately benefit poor Indians.
“I am aware you are facing difficulties with 500 and 1,000-rupee notes ban. I understand the inconvenience,” he said at a political rally in Uttar Pradesh, India’s most populous state.
via The Guardian
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