The conversation between human and AI assistant.
What is the logic behind scrapping of 500 and 1000 rupee notes by the Indian Government?
How did scrapping certain notes help with these issues?
By removing high-value currency notes, which are often used in black market transactions, it became more difficult for people to hoard and launder large amounts of illegal money. It also helped to discourage bribery and corruption as people were unable to make large cash payments.