The conversation between human and AI assistant.
Will banning 500 and 1000 notes can stop the black money?
How can digital payments help in reducing black money?
Digital payments can help reduce black money by creating a digital trail of transactions, which is harder to conceal than cash transactions. This, in turn, can increase transparency and reduce the scope for corruption. Additionally, digital payments also provide the convenience of cashless transactions, which can encourage more people to switch to this mode of payment.