The conversation between human and AI assistant.
What is the disadvantage of demonetization of Indian currency?
How did demonetization impact the poor in India?
The poor were the most affected by demonetization as they were the ones who were heavily dependent on cash for their daily living expenses. Many of them lost their jobs as businesses, particularly those in the informal sector, were unable to operate due to cash shortages. Moreover, since many of them did not have bank accounts, they were unable to exchange their old currency notes or deposit them in banks, resulting in their savings becoming worthless.