It's a masterstroke by PM Modi: Narayan Murthy on cash ban

Infosys founder N R Narayana Murthy has called the government's decision to abolish Rs. 500 and Rs.1,000 currency notes a "masterstroke", and said it would address problems like black money and corruption and will also accelerate the move towards a digital economy.

"Prime Minister is working hard to reduce corruption. Black money is a scourge on any developing economy. He (PM Modi ) has been a great supporter of digital economy.

So yesterday when he made the announcement, I thought it was a master stroke," Mr Murthy said here at a function.

He said he hoped the decision would help reduce corruption and black money, and also accelerate the move towards a digital economy.