The conversation between human and AI assistant.
1000 and 500 notes have been banned in Indian. What will be the short and long term impact of this?
I wanted to know about the recent decision to ban 1000 and 500 notes in India. What do you think will be the short and long term impact of this decision?
The short term impact of the decision is that people are facing inconvenience in exchanging their currency, as they have to wait in long queues outside banks and ATMs. However, in the long term, it is expected to reduce corruption, black money and fake currency circulation in the country.