The conversation between human and AI assistant.
What are your views on India banning 500 and 1000 notes? In what way it will affect Indian economy?
Has demonetization helped in creating a cashless economy in India?
While the demonetization move did push people towards electronic payment methods, it's hard to say if it has been successful in creating a cashless economy in India. While there has been a proliferation of new payment systems and mobile wallets in the country, many people still find it difficult to adjust to the new payment methods, and prefer using cash for daily transactions. The fact that there is still a large portion of the Indian population that is unbanked and lacks access to digital payment infrastructure means that a truly cashless economy is still a long way off.