The conversation between human and AI assistant.
How does the ban on 500 and 1000 rupee notes helps to identify black money and corruption?
Isn't it possible for those with black money to convert it into other forms of currency or assets?
Yes, there is a possibility that some may try to convert their black money into other forms of currency such as foreign currencies or assets such as gold or real estate. However, the aim of this measure is to put a temporary freeze on the unaccounted wealth's circulation and to prompt individuals to declare their previously hidden income.