The conversation between human and AI assistant.
How does invalidating the current Rs. 500 and Rs. 1000 currency notes help in weeding out black money?
Can you explain to me how invalidating the current Rs. 500 and Rs. 1000 currency notes helps in weeding out black money?
Certainly. By invalidating the current Rs. 500 and Rs. 1000 currency notes, the government aims to flush out black money that is hoarded in cash. It is expected that those holding illegal cash will be forced to deposit it into their bank accounts, giving the authorities an opportunity to scrutinize the source of the funds.