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How demonetization help tackling black money and corruption?
I am interested in learning more about how demonetization can help tackle black money and corruption. What do you think about it?
Demonetization is a strategy that can be used to combat black money and corruption. By rendering a nation's currency in circulation worthless, it becomes much harder for people with large sums of illegally acquired money to spend. This approach can remove the anonymity of cash transactions and force people to keep their financial affairs in order. Additionally, the replacement of old currency leads to an increase in formalization of the economy.