The conversation between human and AI assistant.
What do you think about the ban on 500 and 1000 denomination notes in India?
Did the ban have any positive effects?
The ban had mixed effects. On one hand, it did lead to a significant reduction in the amount of black money and counterfeit currency in circulation, and it increased the usage of digital payments. On the other hand, it caused a lot of inconvenience to people, particularly those who were not able to exchange their old notes in time, and it also had a negative impact on the informal sector of the economy.