The conversation between human and AI assistant.
What is your opinion on PM Narendra Modi's decision to ban INR 500 and INR 1000 notes?
What were the long-term effects of demonetization in India?
Demonetization had both positive and negative effects in the long run. On one hand, it helped in curbing the circulation of black money, increased digital payments, and brought more people into the formal banking system. On the other hand, it had negative impacts on the informal sector, small business owners, and farmers, who suffered due to the cash crunch.