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How can discontinuing 500 and 1000 rupee will help to control black money?
Can you explain how discontinuing 500 and 1000 rupee notes will help control black money?
The decision to discontinue 500 and 1000 rupee notes was primarily taken to curb the circulation of black money in the Indian economy. By demonetizing high denomination notes, it is expected that people holding undocumented and undeclared wealth in cash will be required to deposit this money in banks.