The conversation between human and AI assistant.
How effective is scrapping 500 and 1000 rupee notes? Will it reduce black money?
Do you think it was effective in reducing black money?
There is a mixed response to this issue. It's still too early to tell, but there are some signs that demonetization did make a difference. Some reports indicate that the amount of money laundering and black money transactions have decreased as a result of this decision. Others argue that the policy did not have a significant effect because illicit cash may have been transferred to new or small-denomination currency notes.