Modi's shock demonetization came in November 2016, banning all 500- and 1,000-rupee notes. He said it's part of the government's efforts to combat black money and digitize India's economy. The ban removed 86 percent of the country's currency from circulation at a stroke, and threw the cash-dependent economy into turmoil for weeks. The decision was met with mixed reactions. The international response was positive, with many seeing the move as a bold crackdown on corruption. But at home, many economists criticized it for having little effect in eliminating "black activities" while "causing much hardship to common people".