The conversation between human and AI assistant.
How will black money and corruption be stopped by banning 500 and 1000 notes?
That makes sense. But what about people who already have a lot of black money saved up? Won't they still be able to use it?
It will depend on how they have saved their black money. If they have a lot of physical cash saved up in the form of these high-value notes, yes, they will not be able to use them anymore. However, if their money is saved in other forms like offshore accounts or assets, it may not be affected directly by this ban. Though, they could still face legal consequences for any illicit activity associated with their wealth.