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 curb the problem of black money?
Sure. When high-value currency notes like Rs 500 and Rs 1000 are banned, people with unaccounted cash find it difficult to exchange their money for new currency notes. This move makes it easier for the government to track and trace the illegal cash, which in turn reduces the amount of black money in the economy.