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India today is flying by the seat of its pants - so says one economist, in response to Prime Minister Modi's bold experiment to abolish many of the country's bank notes. The idea is to cut out corruption. But the result, in some places, has been pure chaos. We have a report from the streets of Kolkata, and get the views of a former IMF chief economist, Harvard Professor Ken Rogoff, author of "The Curse of Cash". Can India transition to a more digital, less cash-dependent economy? Thoughts on this from Kosta Peric, the Gates Foundation's Deputy Director of Financial Services for the Poor.

(Picture: People queue outside a bank to exchange defunct rupee notes in Amritsar; Credit: Narinder Nanu/AFP/Getty Images)