The conversation between human and AI assistant.
Why are 500 and 1000 notes being banned in India?
How will banning those notes help curb black money?
By banning those notes, the government forces individuals and businesses to deposit their existing cash holdings into bank accounts. This makes it more difficult to use unaccounted for, undeclared income, or "black money," and should eventually lead to a reduction in the amount of black money in circulation.