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World|business|November 14, 2016 / 02:08 PM
India's Modi pleads for patience as cash-crunch suffering worsens

AKIPRESS.COM - ruppee22 Last week India withdrew 85 percent of the hard currency from its cash-dependent economy, even though replacement notes were not yet ready, recalls ABC.

That has caused immense hardship, particularly among the poor. They have turned on the government and especially the Prime Minister, who jetted to Japan as the crisis unfolded.

Last night, an emotional Indian Prime Minister Narendra Modi defended the move, which the government said was aimed at fighting corruption, tax evasion and counterfeiting.

Modi begged Indians to endure the pain until the year's end, telling them he would "accept any punishment" from them otherwise.

"Give me time till December 30," Modi said. "If you find any shortcomings, mistakes or any wrong intention on my part, I will be ready to face any punishment from you."

It is a rare acknowledgement of political mortality from India's leader, and came as the government admitted disruption would last weeks, because of delays in note printing and technical issues fitting them into ATMs.

With long, increasingly angry queues remaining outside banks over the weekend, officials also moved to alleviate some of the stress by raising strict withdrawal limits.

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