Demonetisation of notes: The Great Khali hails Narendra Modi's masterstroke to curb corruption

New Delhi: Several sportspersons have hailed Indian Prime Minister Narendra Modi's decision to ban Rs 500, 1000 notes.

Ever since the announcement was made, wishes have been pouring from all corners. Indian wrestler Dalip Singh Rana, fondly known as The Great Khali, also hailed the Prime Minister's move saying it's a great step against black money.

"I understand there will be some temporary problems for people but this is the best way to curb menace of black money," he was quoted as saying by ANI.

Earlier Indian cricket team's coach Anil Kumble and ace shuttler PV Sindhu also lauded the move.

1,000 and 500 rupee notes will cease to be legal tender from November 8 midnight and those who are in possession of these notes can deposit the notes in their accounts in banks and post offices from 10th of this month to 30th of December this year.

In a special nationwide televised address yesterday evening in New Delhi, Prime Minister Narendra Modi said those who are unable to deposit the notes within the deadline for some reasons, can change them till 31st of March next year by furnishing ID proof.

He said new currency notes of 500 and 2000 rupees denomination notes to be introduced. He said, RBI has decided to limit the notes with higher value.