The conversation between human and AI assistant.
How exactly does banning Rs 500 and Rs 1000 notes curb the problem of black money?
Can you explain to me how banning Rs 500 and Rs 1000 notes can curb the problem of black money?
Certainly! By banning the Rs 500 and Rs 1000 notes, the government can limit the amount of cash that can be used in certain transactions. This reduces the amount of undeclared, untaxed money that can be circulated in the economy, making it harder for individuals or businesses to hoard large amounts of cash and evade taxes.