The conversation between human and AI assistant.
How does the ban on 500 and 1000 rupee notes helps to identify black money and corruption?
Can you explain to me how the ban on 500 and 1000 rupee notes helps to identify black money and corruption?
Sure, the ban on these high-value notes was implemented as an effort to curb corruption and the circulation of black money in India. By invalidating these notes, those who have hoarded unaccounted wealth, or "black money," will need to deposit it into their bank accounts to exchange it for new currency notes, and in the process, reveal their source of income to the government.