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5 Reasons Why There Is Opposition to India’s Currency Ban

Indian Prime Minister Narendra Modi has championed his government’s decision to replace high-denomination rupee notes earlier this month as a move to cut corruption and tax avoidance and push more people into the banking system.

While Mr. Modi’s supporters have said the short-term pain of having to change money and wait in ATM queues is worth it, those opposed to it say the step was poorly planned and has created the unnecessary hardship.

Opposition parties have disrupted proceedings in Parliament over the issue and are demanding Mr. Modi’s explanation for his sudden decision to both the houses. Meanwhile, on Monday, an alliance of leftist parties called a general strike in several parts of the country in protest against the decision to swap the notes. The main opposition, Congress party, said it was marking it as a “Public Anger Day.”

Here are some of the reasons why people are opposed to the surprise currency move.

(via WSJ)