The conversation between human and AI assistant.
How does the ban on 500 and 1000 rupee notes helps to identify black money and corruption?
What are the long-term effects of this ban and how will it affect the economy?
The long-term effects are yet to be seen, but there are both positive and negative impacts. On the positive side, it may increase digital transactions and reduce the cash-based informal economy, which could lead to economic growth in the long run. On the negative side, it could result in short-term disruptions to businesses and individuals who rely heavily on cash transactions, particularly in rural areas where banking infrastructure is not well-developed.