The conversation between human and AI assistant.
Will banning 500 and 1000 notes can stop the black money?
Do you think banning 500 and 1000 notes can stop the circulation of black money?
Well, it’s a complex issue. While banning high denomination notes can make it harder to hoard large amounts of cash, it’s not a foolproof solution to curb black money. There are other ways people can convert their black money into white, such as creating fake receipts or transferring funds to shell companies. However, banning such notes can definitely create some inconvenience and act as a deterrent to those who deal in black money.