The conversation between human and AI assistant.
Why does 500 and 1000 Rs notes banned by GOI and new notes of 500 and 2000 are issued?
Was there any impact of demonetization on India's economy?
Yes, there were both positive and negative impacts on India's economy due to demonetization. While the move led to a significant liquidity crisis, it also helped to increase the number of digital transactions and move towards a cashless economy in the long term. Additionally, the government has claimed that demonetization helped decrease the circulation of counterfeit currency and curb funding for terrorism.