New Delhi, Nov 27 (IANS): Prime Minister Narendra Modi on Sunday said he was confident that India would shine like gold after the government's decision to demonetise high value currency notes that would curb unaccounted wealth in the country.

"Just like gold we will emerge glowing from this fire. The main reason behind this confidence is our people," said the Prime Minister, defending the demonetisation move in his monthly radio broadcast "Mann ki Baat".

Modi said he had cautioned that there would be inconveniences caused by the move and that "we would face new problems".

"I had said it will take about 50 days for the situation to normalise. It is not easy to get rid of the 70-year-old problem" of corruption and black money, he emphasised.

"Your support despite severe problems touched me. You have not wavered despite efforts to misguide you," he said in his address to the nation, weeks after the surprise move that has caused unprecedented crash crunch in the country.