The conversation between human and AI assistant.
How would demonetization curb black money?
Can you explain to me how demonetization helps to curb black money?
Sure! Demonetization refers to the process of stripping a currency unit of its status as legal tender. The idea behind this is to make it difficult for people with black money to convert their unaccounted cash into legitimate money. This, in turn, leads to a decrease in the circulation of black money in the economy.