Digital payment can curb black money and corruption; youth urged to promote digital transactions and adopt BHIM.
Digital payment is advanced as a means to check black money and graft by shifting people from hard currency to electronic transactions, mobilising youth as ambassadors and an "anti-corruption cadre," deploying rewards and merchant incentives, and pursuing targeted BHIM application outreach to accelerate adoption.

Withdrawal of legal tender: specified old high denomination banknotes cease to be RBI liabilities and face restricted exchange with penalties.
The Specified Bank Notes ceased to be RBI liabilities under the Specified Bank Notes (Cessation of Liabilities) Ordinance 2016; limited exchange/deposit facilities were provided for eligible persons absent during the initial exchange window subject to KYC, verification and passport identity requirements, with penalties for false declarations and restrictions on holding, transferring or receiving SBNs except for minimal amounts for study or numismatics.

Demonetisation seeks formalisation of the economy and to transfer resources from tax evaders to the public treasury.
Demonetisation is presented as a policy measure to curb black money and formalise the economy by withdrawing specified high denomination notes, prompting remonetisation and expansion of digital payments, with anticipated transient disruption but long term gains in measured GDP, higher tax revenues, greater bank liquidity, and lower borrowing and lending rates as part of ongoing economic reforms.