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Modi's announcement on banning 500 and 1000 currency notes. How would it affect economy?
What could be the potential benefits of this move?
The potential benefits of the demonetization move by Modi include a reduction in the circulation of black money, counterfeiting and corruption, greater transparency in financial transactions, and a boost to the formal economy. It can also stimulate growth in e-commerce, digital payments, and mobile banking sectors, leading to greater financial and social inclusion.