The conversation between human and AI assistant.
How are the new Indian currency notes of Rs 500 and Rs 2000 going to help in curbing corruption?
That makes sense. But how exactly will this help curb corruption?
By making it difficult for corrupt individuals to hold large amounts of cash, the new currency notes incentivize them to either pay taxes on their income or to invest their money in legitimate channels. This will help increase the tax base and reduce the amount of black money in circulation, which will eventually lead to a reduction in corrupt practices.