The conversation between human and AI assistant.
How does the ban on 500 and 1000 rupee notes helps to identify black money and corruption?
Can you explain to me how the ban on 500 and 1000 rupee notes helps to identify black money and corruption?
Sure, the ban on 500 and 1000 rupee notes is expected to curb black money and corruption by limiting the circulation of cash in the economy. It will force individuals with unaccounted cash reserves to deposit them into banks, where it can be monitored and scrutinized by tax authorities.