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How exactly will the demonetization of INR 500/1000 going to curb black money and to what extent?
I am curious about the demonetization of INR 500/1000. Can you elaborate on how it will curb black money and to what extent?
The demonetization of INR 500/1000 aims to eliminate black money by invalidating the existing currency notes and replacing them with new ones. This move is expected to reduce the amount of cash being hoarded outside the formal banking system, which is a common practice for undeclared income earners.