Beijing: India's decision to demonetise Rs 500 and Rs 1,000 currency notes was 'bold and decisive' but the 'risky' move is far from delivering a corruption-free country, the Chinese media said on Monday.

However, the op-ed in the Global Times hailed Prime Minister Narendra Modi for his "startling and sudden move" which has created a mayhem-like situation in India causing great inconvenience to millions who could be seen waiting endlessly in the long and winding queues to get old currency exchanged in the banks.