The conversation between human and AI assistant.
How will the demonetization of Rs 500/1000 notes finish the black money in the market exactly?
Has demonetization been successful in other countries?
Yes, several countries have used demonetization as a tool to curb black money. For example, in 2016, India demonetized the Rs 500/1000 notes and in 2015, the European Central Bank discontinued the 500 euro note to combat money laundering and terrorism financing.