The conversation between human and AI assistant.
Is this move of banning 500 & 1000 Rupee notes right?
I was wondering if there were any negative consequences of the initiative on the general population or small businesses.
Yes, there were some negative impacts felt by the general population and small merchants, especially in the initial phase when people faced difficulty in exchanging old notes or withdrawing new cash from banks and ATMs. The move also affected the cash-dependent rural areas, causing inconvenience and loss of livelihood to many. However, the government claimed that the long-term benefits of the decision would outweigh the short-term hardships faced by the people.