The conversation between human and AI assistant.
How will the scrapping of Rs 500 and Rs 1000 notes help in reducing black money and corruption?
But won't people simply use other methods to hide their cash, such as using foreign currencies or making high-value purchases?
While it is possible for people to resort to other tactics to hide their money, eliminating the most commonly used denominations is a step towards reducing the amount of black money in circulation. Moreover, the government has also implemented other measures to track cash transactions and curb illicit money flows.