1) It will help curb black money inside the country.
2) It will help in reduction of bank loan interest rates.
3) It will enhance use of digital currency.
4) It will help poor people to get connected with Banks.
5) More use of digital currency means more taxes for Govt. which can be used for development.
6) It will be a great lesson for Govt. to take more such decisions in future.
7) Limited availability of cash will help in reduction of crime and criminal activities.
8) If Govt. is able to drive transactions for agriculture through banking system then it can help in long run.
9) Such step can encourage Govt. to take steps in other areas like property transactions etc.
10) It will help stabilize the real estate prices.