The conversation between human and AI assistant.
How will the scrapping of Rs 500 and Rs 1000 notes help in reducing black money and corruption?
How will this decision help in reducing black money and corruption?
By phasing out these high denomination notes, it will become more difficult for people to hoard large sums of cash or conduct large transactions without being detected. Additionally, the replacement of these notes will make it harder for counterfeit currency to circulate.