"This is planet money from NPR. Hey just a quick note today. Show is about India's massive experiment to get rid of cash. It originally aired in two thousand seventeen eighteen. we've got an update for you at the end so stay tuned on November eighth at ten PM. The Prime Minister Narendra Modi got on TV and out out of nowhere said all of the money in your wallet is totally worthless. Starting now be have decided that the prior one hundred Rupee and tower that booby currency norps presently in use bill no longer be the legal and pro midnight tonight five hundred and thousand rupee notes about eighty five percent of the cash in India the five hundred and thousand nodes hoarded by emptying this intitial eliminates will become just `less piece of paper worthless pieces of paper. Imagine that imagine in president trump gets on TV and says all of the ten twenty fifty one hundred dollar bills in your wallet do not worth anything anymore an India's not like the US where most people have credit cards and debit debit cards ninety percent of business transactions in India happen in cash and a lot of that cash is to use Modi's term black money like doc money's basically any money that is outside of the tax system. It's become kind of a catch all phrase for corruption in India. MODY said you have one month to take your cash to the bank and exchange it for these new bills that we have just minted and you can change at a maximum about sixty dollars a day sixty dollars as a lot of money for most Indians. Most Indians live on less than two dollars a day but it's not that much money for wealthy. Indians and this limit said mody meant that criminals and big time tax evaders would be stuck with these big stacks of cash country Bill Gates success. Thank you very much. Thanks a lot shot. After after Moody's speech India's entire economy ground to a halt people are still lining up for days to exchange old money buys provoked a frenzy as hundreds hundreds of millions of Indians. Don't have bank accounts died of shock. Others committed suicide. Million people waited for eight hours in the blazing being son to change their money at the banks. Small businesses went bankrupt because nobody had any money to buy anything. A baby died because his parents didn't have cash for taxi to the hospital. Ranjan Gupta travel to the central bank in New Delhi from his farm in Gujarat was an eighteen hour journey his wife had just died and he found three thousand rupees about forty five dollars worth of old bills that she had been saving in her sorry but the thirty period to change money was up. Suraj headed to the central bank in New Delhi because he heard that they could make exceptions so he came here with his money and his wife's death certificate but the people at the bank said Nope. You're too late. You've missed. It's the deadline. Your cash is worthless. He was standing on the sidewalk outside of the bank and he showed his cash to be fanned. The bills out and his hands were shaking. He told me this money. It represents a far more. I can't afford to lose it. Don't go out to you ever done this. What was he thinking and how wait he come up with this plan. I started looking into this and I kept seeing one name. My name is anita a Neil bocaccio Hello and welcome to planet money. I'm Stacey Smith today. On the show. We need the man who pitched this idea to move and this man this man who brought one the biggest economies in the world to its knees one point three billion people is not a famous academic policymaker or government minister. He didn't even and study economics. What did you study in school. That's thirty hardly because the light is such a varied. You beat so wait. What did you study. Are you going to tell me it turns out and kneels plan is not about economics or even politics and Neil Keel says he's on a spiritual quest to fix India's economy"