He also slammed the Opposition for disrupting Parliament saying he has been forced to speak out in 'jan sabha' (among people) as he was not allowed to do so in Lok Sabha.
"I had said from day one this is not an ordinary decision. It is full of difficulties. It is a difficult decision and I had said a lot of hardships and problems will be faced.
The Prime Minister's remarks assume significance in the context of reports of widespread difficulties being faced people in accessing their money in banks and all-round impact on the economy because of cash-crunch after the November 8 demonetisation decision.
The PM also targeted the Opposition for disrupting Parliament over demonetisation, noting that even the President was unhappy with their conduct.
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"But, whenever I would get a chance, I will try to represent the voice of 125 crore people in Lok Sabha," Modi said at a rally here, in a retort to the opposition leaders including Rahul Gandhi accusing him of running away from speaking on demonetiation in Parliament.
The PM said those criticising him and highlighting people's problems should also inform masses that they do not need to stand in queue and can use mobile banking.
"You must be aware that the Opposition is not allowing the Parliament to function. I am surprised that despite government's assurance that the PM is ready to speak on the issue (of demonetisation), the situation has not improved. Even the President is unhappy about it (disruptions in Parliament)," he said.
"Opposition is running away from a discussion because they know that their lies will be nailed. Opposition does not have the courage to demand complete roll back of note ban decision as they have realised that people are also in favour of demonetisation. All are saying that demonetisation should be implemented properly," he said.
The PM said demonetisation will root out terrorism, corruption and fake currency.
"Demonetisation has broken the backbone of terrorism and Naxal movement. I am fighting against terrorism as fake currency is fuelling and funding their activities," he said.
"Criticise me, highlight people's problems, but also
inform masses that they do not need to stand in queue and can use mobile banking," the PM told those opposing the scrapping of Rs 500 and Rs 1,000 notes.
Modi said small currency notes, especially the Rs 100 tender, have gained importance after the withdrawal of high value bills.
He also appealed the people to move towards cashless economy by embracing new technology and payment modes.
"Today, people are standing in queues outside the banks and ATMs for cash. If you are ready to support me for creating a cashless society, the day will not be far when banks will queue up on your mobile phones to provide facilities to you," he said.
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Modi also alleged that some people asked him to delay
the implementation of notes ban by one week.
"Some persons asked me to postpone the (note ban) implementation. I asked, why? What was their intention (behind the demand) to delay it?," he asked.
Modi also urged the opposition parties to join hands with the government to spread awareness about various instruments of cashless transactions, such as e-banking and mobile banking.
"Just like all the parties try to ensure maximum voter turnout during elections despite differences among themselves, opposition parties should come forward to teach e-banking to people.