Prime Minister Narendra Modi is replying to the Presidential Address in the Rajya Sabha. The BJP has issued a whip to its Rajya Sabha members asking them to remain present in the House. BJP has 56 MPs against Congress's 60 in the 245-member Upper House. Highlights.

The PM begins speaking on demonetisation.

-- Several members have shared their views, there was considerable discussion on demonetisation.

-- The fight against corruption and black money is not a political fight. It is not to single out any particular party. Note ban not a political fight.

-- Fake notes dont reach banks, they reach terrorists. Corruption has ruined the economy.

-- Corruption has adversely impacted aspirations of the poor and the middle class.

-- We will have to be tough on those who are cheating the system. When we do that, the hands of the poor will be strengthened.

-- There has been no comparison to India's demonetisation and it has become a case study for economists. There is no parallel in the world.

-- 700 Maoists surrendered after note ban. 

-- Former PM Indira Gandhi considered demonetisation but decided against it because she had to fight elections.