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What are the effects of demonetization? Is it really successful?
Can you give me some information about demonetization? What are its effects?
Demonetization is the act of stripping a currency unit of its status as legal tender. Its effects include curbing corruption and black money, promoting a cashless economy, and boosting digitization in the country. However, it also causes temporary economic slowdown, loss of consumer confidence, and may lead to job losses for daily wage earners.