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What are the pros and cons of banning currency notes of 500 and 1000 in India?
Can you tell me what are the pros and cons of banning currency notes of 500 and 1000 in India?
The pros of banning currency notes of 500 and 1000 in India include reducing corruption, black money and counterfeit currency. It also promotes digital transactions and promotes the use of banking channels. The cons include inconvenience to people who have a large amount of cash stored as well as the impact on small businesses that operate primarily in cash.