India scraps its two largest rupee notes in shocking anti-corruption move .

India has discontinued its two largest rupee notes in a shocking move against corruption.
Notes worth 500 and 1,000 rupees will be invalid starting at midnight local time, Prime Minister Narendra Modi announced during a televised address to the nation.
The unexpected move is designed to fight against corruption and money laundering, Modi said, calling them "diseases" and "obstacles" to the country's economic success.
Modi said that policy changes had largely failed to root out corruption. Two years ago, he said, India was ranked 100th in terms of global corruption perception, and the country has only improved to 76th.

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