The conversation between human and AI assistant.
How does the ban on 500 and 1000 rupee notes helps to identify black money and corruption?
Can you explain to me how banning the 500 and 1000 rupee notes helps in identifying black money and corruption?
Sure. The ban on these high-denomination notes is expected to curb the circulation of black money and unaccounted wealth in the country. With these notes being removed from the market, people who have hoarded large sums of unaccounted money will have to either deposit it in the bank, where it can be traced, or risk losing it altogether.