Ban 500, 1000 notes - Corruption Uprooted or just changing clothes!


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Sweety said: (Apr 20, 2018)  
Decision of Government to ban 500 or 1000 notes had come on 8th november 2016 and changed the India's economical, social and political condition completely. Definately people has to face difficulties in exchanging the old notes but yet they accepted the decision of government Because we all know this was a major step to reduce the black money and bring the corrupted people to light. We heared so many case of raid of income tax department on corrupted people house during the time of demonetization, so of course demonetization uprooted the corruption, not completely but to some extent. This step created the fear in the heart of corrupted people about the government Determination to eradicate corruption. And also give hope to people about reduction of corruption.

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Mohammad Munis said: (Apr 20, 2018)  
Good evening everyone, You all might be right in your opinion and in mine too. We suffered a lot at the time of demonetization like standing in the queue for hours, many industries suffered a huge loss, GDP got down and more which already quoted.

Everyone knows that the implementation was not done in a right way. In my opinion, the implementation could have been done in a right way, if 2000 rs had not been introduced, instead, 500 and 1000 rs were introduced. This 2000 RS serves as a medium for collecting black money.

Secondly, Rising of black money could have been avoided by decentralized or blockchain technology.

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Abhishek Goswami said: (Apr 17, 2018)  
Hello everyone,

As per my opinion, banning 500, 1000 notes is just changing clothes I would like to explain my thoughts which are self-explanatory for the favor of my point.

No doubt it was a good initiative by our honourable PM Shri Narendra Modi Ji on 8th November 2016 in order to stop corruption in the form of black money and help the overall economic growth of country although this decision was taken by very suddenly and hence no adverse effect on rich people.

Secondly, middle-class people suffered a lot by this decision because there was no new currency in the bank for being a replacement of old 500 and 1000 rupee note and there was large queue of people at that time for replacement of currency hence people suffered a lot.

Thirdly, by banning 500 and 1000 rupee notes the share market was drastically down in the next consecutive 2 months from the date of demonetization and significant fall were observed in %GDP of India by our economist.

In favor of my point I would like to enlighten the fact during a decrease in the % GDP of India many people unemployed due to lack of jobs in the market and most importantly as per RBI report 99% money was recovered so this decision does not give any help to make a full stop of black money.

In the end, I would like to conclude my point that banning 500 and 1000 rupee notes were just changing clothes nothing else.

Thank You.

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Sunil Kumar said: (Apr 16, 2018)  
Hi all, This is sunil, According to me the step taken by the Indian gov. to eradicate black-money through banning 500 and 1000 Rs. notes. Middle class people and poor people suffered a lot . Even roadside shops, small-scale business and daily wage labours were suffered a lot due to the following.

1) Unavailability of new 500 and 2000 rs cash.
2) Long queue at the ATM.
3) Many of the ATM's were closed.
4) Unable to pay to the daily wage labours.

At the same time, so many bank managers got arrested for exchanging old notes with new notes for the commission. There were rich people who exchanged old notes with new notes in the underground without anyone's notice. We can clearly say that this is completely a failure because its evident that GDP has been decreased after this ban. But in long run maybe after 5- 10 years there will be a good result due the following:
-
1) Introduction of Digital payments.
2) Taxpayers are increased.
3) Gov can have each and every citizen account in their notice.
4) Addhar and PAN attachment in all the bank accounts.

Overall this is not helpful for the Middle class and poor people. Anyways rich people will not suffer due to this ban, its evident by seeing So many old notes were thrown on the road.
The government should implement this kind of ban by keeping wellness of middle-class people and poor people in their mind.

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Arghadeep Nandi said: (Apr 15, 2018)  
Yeah, demonitisation is really an important thing to discuss in India nowadays. It can be said good or bad for the economy based on the situation whwn it is done. 500, 1000 rupee notes carry 80% weightage of Indian currency, so without a long term planning if it is done then none but the stupids will support this. And if the issue is black money then I will say India is a country of 121 crore people, so there will be many ways to do the corruption, in India 70% rupees are in the account of 1% people, and after demonitisation, no such names are published so it is proved they found an alternate process to black the money, and governments also couldn't solve the issue till now, so from the government point of view, this is such a stupid thing for that time.

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Appurajan said: (Apr 12, 2018)  
Hello friends,

Demonetization of 500 and 1000 notes was a good initiative but not a pre-planned process. Banning high currency notes created currency shortage for every citizen around the country. Making the entire population to stand in front of the banks, if it is a planned activity then measures will be taken in advance to handle the problem. The people sufferings which were published in the news articles, social media and others prove it is completely an unplanned measure taken by the government. Neither of the black money holders name published yet, though they got a list of names from Swiz bank.

The main reason behind according to government is to curb black money, money laundering activity and terror funding. But in actual through these initiatives by the government lead to downward growth in GDP and took a long time to restrain its position. Through this process the only advantage is taxpayers increased, digital payment is perceptible. It's up to the decision makers from the above points it's uprooted or changing clothes.

Thank you.

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Niya said: (Apr 7, 2018)  
Hello All.

Banning 500 and 1000 Rupees Note over a night is really a stupid thing, PM and other top millionaires and billionaires were already knows about it all the other people like us suffered a lot problems and anyway black money will never be going to be demolished even though they release new currency notes surely there will be a black money for that currency also its a useless thing which government had ever done it before.

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Sakshi Agrawal said: (Apr 7, 2018)  
Hello everyone,

I am Sakshi. In my opinion, demonetization was a powerful step taken by honourable prime minister Narendra Modi on 8 November 2016.

It's was very good step by the government to take out of black money but their result was bad.

As we know many peoples have to face a problem there were around thousands of people standing outside of the bank and ATM in a long queue and we saw only that people standing who don't have a black money no one saw the rich people stand in a long queue.

People suffered a lot of problem in that time. There was a shortage of new note of 500 and 2000 in the bank. The ATM was also empty in that time. The net server was also down in that time but what was the result how many people were found out who have a black money.

So in my opinion, demonetization is just changing clothes.

Thank you.

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Prakash Mewada said: (Apr 6, 2018)  
Hi,

I am Prakash.

Today topic is digital payment secure or not. So I Think This idea good for growth our the country. We can do it an easy online transaction and save the time.

And also black money cannot be hidden in digital banking.

Most of the person standing in a queue outside of the bank so apply this idea after that easily solve the problem.

But some demerits Most of hacker hake website so before apply this idea make A secure side.

And Rural people don't aware of digital payment so First of all, the government provides education in rural areas after that, all these things are possible.

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Himani said: (Apr 5, 2018)  
According to me, demonetization is good but we have to look after both the faces of a coin. Demonetization is good but everything has its own prons and cons we couldn't neglect it. Demonetization is a good step to take out black money but here is the problem start thousand of people standing in the queue for so many hours outside the bank and there is too much shortage of rs500 and 2000 notes and even ATMs were also empty when ATM got filled there were no of people gathered outside the bank in a long queue so demonetization is good but implementation is not available.

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Ajay Dwivedi said: (Apr 3, 2018)  
Hello, everyone.

Our topic is related to demonetization. I had gone through all of your comments. Every one is saying that implementation is not good. My opinion is quite different I think implementation was also very good. First, you are going to ban money and don't want to make it public before a proper time, because of you make it public then everyone will dilute their money anywhere so your main intention will be ruined. Another thing is that if you think deeply that gov bring an scheme of Jan dhan khata so that everyone has their own account and they can submit there money their. So it was the first step implementation by the government in the way of demonization since it was a very confidential issue so gov have to announce it suddenly so that the corruption doesn't have much time to take any action. Everyone is talking about rich people in our banking system anybody can submit money in anybody's account. So if a person is rich then they will send their servant to submit money that's why you can not see the rich in the queue. After demonization, one year the GDP decreased but after that it is in very good condition and the revenue generation by tax is also increased. One very important thing is that 500 and 1000 is our major currencies for global trading. And if something written on notes is not acceptable and the amount of such notes was very much so new currency removed this problem too.

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Himanihanda said: (Apr 3, 2018)  
There were some people which is having black money with them by banning these notes corruption will be diminished.

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Saurabh said: (Apr 3, 2018)  
Actually, I am satisfied with this decision, it seems like they done to show that government is working, but it effects us in various ways. As totally banking scheme has been changed (charges even on the small transaction), it is not demonetization of money it just demonetization of poor people or you can say general category people. It causes a hike in price and note availability in the market.

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Shreya said: (Mar 29, 2018)  
Hello everyone,

This is Shreya. Demonetization was introduced to combat corruption from society. I have one question from all of you. How much government has recovered the black money?how many faces of corrupted people come in front?Does it really reduce the corruption? The answer is No. So, how we can say it has reduced the corruption. In fact, the decision which was supposed to destroy black money, helped people launder it. According to data offered in the white paper published by the ministry of finance, about 4. 9% of black money held in form of cash. A bulk of the money is held in form of real-estate and gold. So this decision is just for changing clothes, not for uprooting the corruption.

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Aadivya Prakash said: (Mar 28, 2018)  
Hello Everyone,

My name is Aadivya, in my opinion, Demonetization is a very good step to take out the black money, but the implementation was very bad.

As you know all there were around thousands of people standing outside of a bank in a long queue, which hits the middle-class people. No one can saw a Rich people standing in a queue.

As many of situation happens at that time like, if I am talking about myself. I suffered a lot. There was a shortage of new Rs 500 or Rs. 2000 notes in the bank. The atm's were almost empty for most of the time.

If the Atm's was refilled in a week. The ppl were gathered there in a bunch & about 1 km long queue was made at the same time. There is also a problem of server down happens. Sever downs for an hour.

So, demonetization is only a cloth changing!

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Ashish said: (Mar 27, 2018)  
From my side, demonetization is a most effective weapon to fight with black money, it is already used by other country and positive results is found, the same way in NDA government do the same activities but improper planning, I think they need more time to execute to success.

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Kishore said: (Mar 26, 2018)  
Hello friends.

In my side demonetization is correct (In the first demonetization means changing the currency) but, implementation of demonetization is not sufficient to process. Because most of the rural people suffer by the sudden stroke. But some good situation we are facing near future, the first moto of the demonetization is to come back the black currency, but in a real situation, we are facing completely difference. The NDA government totally fails by returning of black money.

So, totally the mission is collapsed.

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Shekhar Jamun said: (Mar 26, 2018)  
Hellos, in my opinion.

I think that the demonetization is a very good idea but which is implemented in very bad manner. Due to which the middle-class ppl have to suffer the cause. As on November 2017 government Of India decided to ban the RS. 500 and rs. 1000 banknotes at midnight. And orders to change there notes in a bank with a new note of RS. 2000 and on the next day there is a long queue in banks to exchange the notes. But in many banks, there are not sufficient notes of rs. 2000 so ppl had many problems. No Rich people stand in a queue who had black money. There is no change given to the ppl who went to get the basic daily needs item in the market because there is lack of RS. 100 notes in the market and new rs. 500 notes are not available. So I think there is lack of planning before implementation of such big decision. Government Had to laugh rs. 500 notes with RS. 2000 notes. Economist also thinks that this is not the good decision for the GDP, which is true because GDP goes down. At that time. But demonetization plays an important role in making India cashless. Because it increases the online transaction. So in my opinion, demonetization proves to be a very good decision if it was implemented with better planning.

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Barkha said: (Mar 25, 2018)  
Hello guys,

Demonetization happens to reduce fake currency, reduce corruption and to reduce terrorism. And its proven right because of demonotization tax collection has increased but as it is planned it didn't results like that. Still people is carrying fake money.

Yes, of course, demonetization has left its impact on Indian economy but what was expected it is not happening.

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Yazar said: (Mar 23, 2018)  
Hello everyone.

The process demonetisation is one of the effective processes to cover and get back all black money. Finally, we have seen nothing changed. It was initialized in the Congress ruling time but not implemented. There was a big voice against the demonetization when Congress ruling time. Even Mr Modi tweet this does not favour in our country. But currently BJP govt Mr. Modi implemented the demonetization of banning 500 and 1000 rs notes. The intention might be a good way. There was quote Mr. Manmohan added after the failure of this process. Bz everyone pointed out this process was initialized by Manmohan period. He said there was different the major operation who done by doctor or compounder. But the implementation happened really worst. It should not be harm peoples. The govt should think about the peoples who are living in India. But it's really hit middle-class families. We have seen almost 1 km to 2 km peoples are standing in the queue to withdraw their money. No one can be seen high-class peoples standing in the same queue and so many places Latti charged by police. It's clearly saying there was a loophole in the process before implementation. As my opinion, it's just changing clothes.

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Subham Choudhary said: (Mar 22, 2018)  
Hello, everyone, this is Subham. And our topic is a ban of 500, 1000 notes corruption uprooted or just changing clothes. So here I want to say that the plan is good but the execution is very bad. Because of it, many ppl get affected mostly rural ppl and middle-class family. They have to stand in the queue for hours by leaving their work. Even when they don't have black money. Those ppl who have had black money they all converted in white money with collaboration with a bank or with the help of their friends and family so the result is that because of this demonetization only a few ppl get affected but most of them get back there money. And middle-class ppl didn't get any benefit after this decision after demonetization govt lunch one more that's called GST because of that many poop ppl are not able to fulfil their families demand. Because if they buy the costly thing they have to pay huge amt as GST. So overall its only affect poor ppl and middle-class ppl. Not them who has black money.

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Rutuja P said: (Mar 21, 2018)  
I think its good steps of Indian government to reduce corruption. In this step, arises many problems at that time. To make India corruption free few more steps are needed like demonetization. But many rich people easily change their black money into white money.

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Tarun said: (Mar 20, 2018)  
As per the topic, demonetization banning 500 and 1000 are good but I wasn't seems to right for middle class and low class families because initial stages little problem was there by converting and also expected notes are yet to print by RBI it was an improper planning and and implementation failure, this decision pulls the nation back to 60's worst kind of execution by Govt of India.

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Surabhi said: (Mar 20, 2018)  
Ban on 500 & 1000, it's a good step taken by India's government.

By doing this they try to reduce the corruption and uprooted black money. This step arise many problems at that time peoples stand in a row for many hours, banker we're also get irritated by seeing the public rush in the front of the main door. But this ban doesn't affect on millionaire peoples was actually black money has existed. They just convert their black money into white money. Jio is one of the best examples of this, Jio sim comes in May of 2016 and there is ban on 9 Nov. 2016 not much gap. I think all the millionaire know about Modi's step just because of this there is no need for them to go and stand in that row.

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Muskan said: (Mar 19, 2018)  
Hello everyone,

In my point of view, demonetization was a good step towards reduction of corruption and black money. Due to demonetization a big amount of black money had been caught.

Although in the starting people had to face many difficulties like standing in the row for hours but they did it without any opposition and supported the government in this great move. But as we all know that corruption and black money are spreaded in our country widely, and it can not be removed/cut out in just one step, so to make India a corruption free nation few more steps are needed like demonetization. Hence the step of banning 500& 1000 notes did not go in vain, corruption is much reduced through this step.

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Niveth Gs said: (Mar 19, 2018)  
Hi friends.

I am Niveth.

According to my opinion, nothing gets changed. Everyone is saying that black money was found and change to white. A person who have black money he will be an influenced person he can easily turn black money to white money. I didn't see any rich people standing in front of the bank to change the money. I only have seen normal people.

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Naresh Gupta said: (Mar 19, 2018)  
I think intentions behind banning notes of 500 and 1000 denomination to hit on black money was right but there were issues with an implementation which defeated the purpose of this big step. People have surplus black money (500 & 1000) have great influence because of there economic status and they get involved with banks to convert their black money. People were initially allowed to deposit/convert currency and investigation to establish the source of money was initiated later on. I think before allowing the people to deposit govt should have to establish the source of that money and it would have discouraged the people with wrong means.

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Shaifali said: (Mar 19, 2018)  
I believe that demonetization was a good move which was badly implemented. It came as a surprise for the citizens and in initial days it really created the image that the black money would be brought back. The current situation gives this projection as well, as almost 97% of the money has come back as well.

But if the government aggressively cracks down on the people's bank accounts which got large amount of money deposited, there is a fair chance that people with black money can be caught.

Also, there were loopholes in the implementation which led to people getting their money converted to white money. People bought money using that cash, got it deposited in their relatives/servants account for some commission and later withdrew it.

But its still not late and correct approach can help bring the corrupt people to justice.

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Akash Kharat said: (Mar 15, 2018)  
According to the topic, corruption is a thing which can't be uprooted in single move one has to kill it step by step. 500 and 1000 currency notes are banned as a legal tender and at time of demonetisation it created good impact but later on gradually it is vanishing, so it's like back to square one condition and it was all for nothing.

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Pankaj S B said: (Mar 14, 2018)  
It's 50-50 that happened, some got busted and many got chance to change clothes! In that time of rush, but the middle man still face same things that he used to face with the same 500&1000.

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Pcp said: (Mar 13, 2018)  
Hi.

Hi, I'm PCP.

The ban on notes gives short time positive effect on corruption and terrorism but the huge negative effect on GDP on of that country. Every democratic country (at least) should care of common man issues while taking these types of decisions. Because it affects tremendously on their living.

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Gyan said: (Mar 11, 2018)  
Hi friends. I am Gyan.

I think it was a good discussion, the ban of 500 & 1000 rupee notes to suppress the terrorism at that time. And it was short-term benefit and problems.

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Aadarsh said: (Mar 9, 2018)  
Hi I am Aadarsh.

In my opinion, it is not good because of many people which leaves under middle class category are face more problem because of this.

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Raghava said: (Mar 8, 2018)  
Hi friends.

This is Raghava.

I think the idea of changing 500 and 1000 currency is not a good idea. Because after changing the currency also so many people change the new currency as black money. We have to change the mentality of a person to stop doing corruption. If we change the currency 1000 times then also the people do corruption. Because they are edited for the doing corruption. So change the people heart first after automatically the people stop the corruption.

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Saitej said: (Mar 7, 2018)  
In my point of view, corruption is not uprooted it just changes it's clothes. Why because it collect the black money which is inside the country. But what about the money in foreign banks. Lot of people deposit their black money in another's account and make it to White money. So, it will reduce the black money up to some extent only. The foreign banks are not willing to give the information regarding the persons having accounts in their banks. If they help in this context corruption will be reduced maximum. With the demonetisation, only common people suffer a lot. It is a good initiative by the NDA government but it is not properly planned and executed.

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Nilesh said: (Mar 6, 2018)  
Hi,

The topic is just as interesting like a cheese on a pizza.

In my opinion its just like changing clothes or flavours in a ice cream.

Now if someone has to take a bribe the minimum demand would be 2000. That's so great Modi Ji.

In India there are 649481 villages, even if we assume 100 people in a village, there are around 5000000 people who are totally unaware of this change not because they live in villages but because they are illiterate.

Firstly our Govt should teach how to walk rather than just saying RUN.

I don't think corruption is minimised, it may happen that it has been postponed.

If we are bringing a change in the society, it is also important to make the society understand the change.

It has just created problems for middleman people. Rich people are becoming richer, poor people poorer.

Thanks.

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Pushpendra Singh said: (Mar 5, 2018)  
Hi friends.

In my point view, the ban of 500, 1000 is corruption uprooted because past 2 decades we had never been thought about of ban the notes. But as the BJP came on power on 2014 the country value changed totally. Anywhere we are talking about ban of notes (8 Nov 2016) is very good as the all corrupted rooted out and main thing is that every state or cities going cashless because of demonitisation and now annual report had been published about cashless states or cities which teachs them to go cashless or uncorrupting nation. It's very good idea of NDA government of India. We knew that we had lost many life in queue but it's not affected the country because India is self sacrifice nation to do good for own country.

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Bavita Kumari said: (Mar 5, 2018)  
Hello guys, I am Bavita, and in my point of view ban of 500 and 1000 notes are not just changing clothes, it is a step or initiative to fight against Corruption. Demonetisation is implemented on 8 nov 2016. Through demonetization the main purpose of the govt was.

-to collect the money from the market.
- to decrease the inflation.
- to capture the black money.
-to reduce corruption.

Yes, I m agree due to this, people were faced many problems, many people died in the queue, but we all know for a big step we have to take a risk sometime. I think this step was fully planned, I can give you an example -implementation of JHAN DHAN YOJNA. Means every citizen of India should have an account in the bank. In my point of view, this was also a part of demonetization so that they can exchange their money. Yes, implementation of it was not 100 percent.

Effective but this was very good initiative so we should support the thoughts of our government.

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Ayush Singh said: (Mar 4, 2018)  
Hello friends,

I would say that it was a bold move by the government as nothing much had been done to date or maybe many of us were not aware of this as well. Even though it was a nice step taken but it could not eradicate corruption, thanks to the fact that corruption is now very deeply rooted in the system. People are thinking just of their own advantage. Many people took a hefty amount as a bribe for turning the black money of the corrupt people into white money, especially the bank employees. We must support the government else there will be no more such attempts to strike down corruption.

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Aritra Majumdar said: (Mar 1, 2018)  
This is without doubt a really interesting question. However just as a coin has two sides, a head and a tail, demonetization also has its merits and demerits.

The ban is undoubtedly a good way to make sure that digitization gets a much needed boost in India in the form of electronic wallets, payment banks etc.

However it was disheartening to see people booking their railway tickets and cancelling them deliberately just for the purpose of converting demonetized currency without approaching banks, a move that actually defeats the very purpose of this initiative by the Government.

The actual problem lies in the mindset of the people. Simply banning high currency notes can't drastically change our mindset.

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Aditya Singh said: (Feb 28, 2018)  
It has two aspects, one for the normal corrupt AAM Aadmi and another for the man having high connection with the system. From my point of view, there is no effect of demonetization on the second aspect, as they can turn their black money into white money by consulting bank authority directly. We have seen such type of news. So, we can say that it affects the corruption partially.

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Mannaisathik said: (Feb 28, 2018)  
Hai Friends.

Am Mannai Sathik.

In my point of view, the ban of 500, 1000 notes partially uprooted the corruption. According to the government, 99% plus demonetize is back to the bank. That simply not possible without the accepting money of big businessman the plan of demonetization is already known by the people who had black money. So the plan is unsuccessful for example. A businessman contains 133 crores 2000 notes in his house.

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Rohan said: (Feb 28, 2018)  
I think it's a good idea by our PM. The people who is having a money without document or proof store their money in various places. The minimum that money will go out of currency and the ad thing is that this money was may be used by terrorist or politicians to grab votes from poor people.

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Abhinav said: (Feb 26, 2018)  
Corruption uprooted to some extent.

Don't you guys think that if the people of our country do not support initiatives taken by the government, it will always be in a dilemma to whether take more initiatives or not?

We all know that it was a very good initiative taken by the government maybe its implementation was not good but how many of us recall similar initiatives taken by the govt in the recent past. I bet not many or may be nil. Banning old notes and introducing new ones is a very courageous step in trying to remove corruption.

"Something is better than nothing".

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Ashwini Shivakumar said: (Feb 26, 2018)  
It is really a very good idea of banning 500 and 1000 notes.

It is a good step taken by the government to ban notes. Before banning the corruption was at the high rate but now when see it seems to be difficult to do. It did the effect in much middle class and lower class families but it majorly affected the high class and most of the corrupted people. All What I think is, that corruption did uproot.

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Harshit Kundalwal said: (Feb 24, 2018)  
Demonetisation of 500 and 1000 rupee notes was a good step taken by our government but first what is black money- it is the money we dealt in cash but not paying its tax. It is the rooted problem in India, so many people not paying their proper taxes. On the other hand, the closing of black money directly affects poor and middle-class peoples and they suffer a lot.

Due to demonetization lots of money is gathered in the bank and proper taxes are paid to the government which is also helpful in country's development. It is estimated that at least 95% of the demonetised Rs 15. 44 lakh cr has already come back to the banking system.

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Shivangee said: (Feb 23, 2018)  
Demonetization means banning of 500 and 1000 rupee notes by the Modi government. This bold step was taken by the government On 8 nov 2016. I would like to say that if a govt does nothing to uproot corruption, we blame that kind of govt but if this govt has taken some brave steps which were not attempted by any govt since the last so many years, we are still criticising the government So no matter what, we will always criticize the govt.

Demonetization was done with a view to reduce black money and increase tax flows to the economy. I agree that it could have been implemented in a better manner but it has been a good start. We might have faced problems like standing in queues for the exchange of old currency notes but I believe these are short term. The benefits to the economy are long term. People nevertheless always find ways like giving bribes etc. But I feel it has reduced corruption to an extent by increasing digital payments.

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Rohit said: (Feb 22, 2018)  
In my opinion, Domonetisation is the great step taken by our respected PM Modi sir. It helps some extent to eradicate black and corrupted money. We all had face problem after demonetisation but as time passes it gives benefits to us as we become habitual to go cashless while doing transaction and many more extent people started using digital apps to transfer money.

So it was great decision made by PM. It wasn't fully eradicate the corrupted money but it started the digitalization which was benefit all people to go cashless.

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Tanya said: (Feb 22, 2018)  
The policy of demonetisation is very good but the question arises whether it has been implemented properly or not? it can benefit our economy 10 years down the lane. But what about the present? had the government done a proper homework, this policy could have worked wonders. But obviously this was not the case. This policy which was supposed to reduce corruption in the economy hasn't really affected the corrupted people. Ironically, it made the lives of honest people miserable Instead of the corrupted officials!

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Bindu said: (Feb 21, 2018)  
Hi guys,

I'm Bindu.

In my point of view, demonitization is the major step taken towards uprooting of corruption. There are many pros and causes in implementing any decision. Similarly here, I agree that demonitization has caused some problems. But they are temporary. It shifted the people towards digitilization, which inturn controlled the mediators and corruption. It led to higher tax collection which improves the economic growth.

So, as per my opinion, demonitization doesn't completely eradicated the corruption but it reduced corruption to some extent.

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Ajeet Kumar said: (Feb 21, 2018)  
According to my point of view, Demonetization partially helped to make corruptless India.

But I think banning of 1000, 500 could not worked as it thought the corrupted people are still same as before it affected only general people.

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Hassic said: (Feb 20, 2018)  
Yeah of course, demonetization doesn't affect the corruption casual corruption is running. There is no any change. So it uses full for the corrupters and culprits to do their illegal activities easily.

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Arun said: (Feb 18, 2018)  
Demonetization nothing effected to corruption, and it helps more to bank and govt employees only. Only middle-class people suffered due to demonetization. Govt raised demonetization for a highlight purpose otherwise nothing happened after demonetization no corrupted list released. Moreover, old notes are good.

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Edwin said: (Feb 17, 2018)  
Hi friends, our topic of discussion is demonetisation uproot corruption or not. I am strongly says that demonetisation in India doesn't do anything to corruption. Because according to the RBI report about 97 % of banned currency returns to them. It indicates that the black money holder whiten thier money very easily with the help of our government. During the process of cash exchanges so many bank and the respective officers help the corrupted persons with bribe.

Demonetisation causes so many negative effects to the Indian economy. After the declaration of bann of currency the flow of money in the market ceases. It causes the GDP of India to fall. So many daily wage workers lost their job. Simply saying the India totaly collapsed after demonstration.

Demonetisation was one good thing but it do not implement well in India. So the corruption remains unaffected after banning of currency.

Thank you.

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Vidyadhar Shelke said: (Feb 17, 2018)  
I think, not affect on corruption because. On this planet, MAN is very intelligent. If one door is closed, open another door, like same happen in this situation. If corruption is not possible through money, they can take Buy something Big amounts goods, Invest somewhere without cash. I agree corruption had been stopped only that period. When Notes had been changed.

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Anomiii said: (Feb 17, 2018)  
Demonetization took place three times in Indian history, the last tym it took place on 1974 nd after that on midnight of 8 nov 2016. It was not at all an easy decision for our pm to make. Even he knew people would be facing lots and lots of problem, but there was no other option, it was to be done suddenly at once because if he mentions before a month, that such a decision is to be taken, the whole process would go in complete vain. Bt what was good to see was that our complete nation accepted it with a warm heart. There were no strikes, no burning of vehicles and tires nor blockage of the road. It is the law of nature every action has both positive and negative aspect. Yeah, we faced lots of problems, there were long queues in front of ATMs and banks but we common people realized that this is one of the most important step taken by our respect pm sir against corruption. India is a type of country which can't be a 100% corruption free but it can be removed up to a great extent, which our pm Modi sir has tried to do.

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Shiva Swamy said: (Feb 16, 2018)  
Demonetization announced by our PM Modi sir saying that banned of 500/- and 1000/- rupees notes and introducing the new currency. The main aim of the govt to make the India corruption free country to increase the cashless transactions to make digital India. Lot's of people support this decision and few of people not support as they have black money and initially it is painful for poor and middle-class people but it will few days only and everything will fine. Personally, I think that it is a very good decision by the government but it's success highly depends on implementation and I appeal every Indian to support this decision and contribute to it.

Thank you.

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Sudhanshu Kumar said: (Feb 15, 2018)  
Hi friends, according to me, demonetization is a good step taken by our government, but not implemented properly. I accept that many middle-class family and poor have to face a lot of problems. But we know that without pain nothing gain. So if we want to control corruption then we have to face some difficulties. In a short time, we can't change any anything. Our government is taking many steps to control corruption and demonetization is one of them.

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Aparna said: (Feb 14, 2018)  
The answer to this question is Yes and No!

Yes, corruption has been controlled but No it has not been uprooted completely.

Corruption can not be uprooted by merely one or two steps because it's deeply embedded in our system but yes it can be curtailed to sone extent. Demonetization has at least pulled the people to the banks and by that I mean more number of digital transaction. It was a quite a warning signal for the cash-rich society of India who was forced to throw bags full of notes on road. But those who had brains with money managed to deport cash either to the Swiss bank or through some under the table management. In short corruption continues to exist in one or the other way but the proportion in which it was increasing has declined.

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B.Logendhiran said: (Feb 13, 2018)  
According to me, I believe that banning the 500, 1000 notes is a stupid idea. Because our black money was stored in Swiss bank. The Indian government should take those amount under control and punished the investor of black money in the Swiss bank.

Changing the notes cannot be reduced corruption. It was the psychology of Indian people, they should change their mind and should opposite the corruption.

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Hemanttt said: (Feb 10, 2018)  
Hello friends,

We know change is always necessary. But we have to view both prospectives. The change gives advantages such as new technology, new experience and many more. Also have cons such as miss use, an economical burden.

As per my point of view when anyone trying to change a system then they should aware of the effects and solutions for different problems. When notes are banned by the government they are not at all aware of side effects from that. Actually, government systems are not prepared for such quick decision. Also, many non-literate people are. Apart from this students also faces many issues regarding college fees, accommodation fees etc. If government preplan all the event before the time it may result in a good growth of the economy.

As my point of view, the government failed to achieve the desired goal.

Thank you!

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Sahitya said: (Feb 9, 2018)  
I would like to say that banning 500, 1000 notes does not mean that corruption has been uprooted. It just means that the massive amount of money that was hidden earlier has just become unusable. The mentality of using corrupt means still remains. Thus it has just changed clothes. But that doesnt mean that this step by the government has been in vain. This step has ensured in some way that people will be apprehensive from now on before engaging in corruption practices.

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Akshay said: (Feb 9, 2018)  
I would like to add that no doubt demonetization was a great step by our government, but I just want to know that BJP government has taken this step and has backed with some other things, And bring back the black money was their primary motive which wasn't fulfilled in fact the outcome was good but it was not what the BJP government primarily wanted.

And the point i.e. corruption has reduced tremendously but was not the after effect of Demonitazaton, but it has helped it a bit. And I would also like to appreciate the fact that Modi government took such a step which changed everyone's point of view but not to forget the fact that when demonetization took place still some people managed to get the currency changed. HOW?

So people's point should be changed and not the currency. Even after changing the currency we know that there is corruption then whats the use of the problems that we have been through.

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Ahmad said: (Feb 7, 2018)  
Hello friends I think you all are right.

I agree with you all, demonetization was a very good decision but if 98% money is back to the rbi then where is the black money I think this is happen because every people wants black money back but many people doesnt wants to pay tax if we can't change ourself nothing will be change.

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Ankur said: (Feb 6, 2018)  
Hi all, I would like to say that demonetisation is a very good move by the government to fight against the corruption but it should be done in well-planned way as we see middle-class family and poor people were lot affected by it. It leads to loss of many life and on the bitter note I will say that government failed in their motive too because RBI gave statement that more than 98% of money back to the bank so where the black money is gone and the only benefits am seeing that we get rid up of old notes with names and no written on it and we can say that it is just a changing of clothes.

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Yashas Gj said: (Feb 5, 2018)  
According to me, Demonization is, just a threat that the government has took, but in the reality it says that, 98% of the currency has came back to the RBI, so the demonetization is successful. But the flip side of this statement is, Does only 2% of the money was Black? No, The cheaters have, unique ways of investment in property and all. So, they are on the shore of safety. So, moreover, the effects of demonetization is short-run exactly. But it outweighs the effects of long run. Soo, a monetary economist says that banning a currency which is more than 70% in circulation is not feasible for a developing country like India.

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Amit Godara said: (Feb 4, 2018)  
The step was taken by our prime minister for decimate the corruption was good but not even more. The way of implement Demonetization was not proper because it torched to middle and lower class family's they bear this unwantedly. The corruption is still rife and rich become more rich so Nothing is changed by banning this 500-1000 notes. It's just like changing clothes.

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Abinash Sadangi said: (Feb 2, 2018)  
Hello,

I am Abinash.

In my views, demonetisation has neither uprooted corruption nor changed its clothes. It has just became created a trend. Before demonetisation, farmers used to get low incentives and even today they are suffering from the same problem. Rich is getting richer and poor getting poorer. However, it has provided a digital model through which India can progress. Less reliance on cash transactions has increased and almost all govt services are made available online.

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Sam said: (Feb 1, 2018)  
The way I see it, corruption has not been uprooted by banning 500, 1000 notes. As people were able to exchange their black money against new notes. So we can say that idea of eliminating corruption through banning notes was right but the way it was implemented was not right. It made the situation worse.

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Ankit Goyal said: (Feb 1, 2018)  
Hello Everyone, I think corruption is just changing clothes after demonetization because the step taken was not planned efficiently and it had a very short-term effect on corruption. There is no doubt that a huge amount of "Black Money" is retained but the corrupt person always finds a way to get it back.

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K Sivasankar said: (Jan 31, 2018)  
RBI announced that the 98% of the banned money returned to the bank. In this 98% of all money, it includes the black money also. Somewhere in the conversation of this black money to accountable money, the poor people got bit benefit of it. We are newborn puppies we hope demonetization will give us bright and economical future.

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Ravalika Tatikonda said: (Jan 31, 2018)  
According to my point of view, this is a good decision but poor people was suffered and uneducated people don't know anything banning 500 and 1000 notes no use for because I saw in my village any politician or rich people I didn't see in bank only suffered by common people.

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Shrikant said: (Jan 31, 2018)  
Hello everyone, in my opinion, I'd like to add up to this discussion that if we keep on thinking of "if's and but's" we can never proceed and progress is well. So it is true that the middle-class people suffered a lot in every aspect, but I think the rationale here has to be "plant a tree well before you need the fruits" which lacked and made a middle class to suffer which contributes to a major segment of our country. At last, I want to conclude that it's always better to be a part of change instead of merely thinking of it.

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Darpan said: (Jan 31, 2018)  
The process of banning notes was quick but reduction in corruption is slow process and it'll take some time but it is uprooting because government didn't only banned notes of 500-1000 but also they've also started to linking of adhaar everywhere and digitalization so together all these effort will surely eliminate corruption.

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Rima Chaturvedi said: (Jan 30, 2018)  
By banning 500 or 1000 notes flow of currency in the denomination of 500 or 1000 is completely restricted which means printing of new currency. This would certainly disturb the business of fake currency and to some extent corruption shall be uprooted.

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Ranjith P Poojary said: (Jan 30, 2018)  
Hii everyone, according to my view point, this is a very good and strong step taken against corruption by the govt of India. If every employee in the bank did their job with honesty the result would have been better, since some of them helped to exchange black money made the poor class peoples suffer.

& lack of newly printed currency, also it is the responsibility of government to take strong action on them and make this step help the poor and against corruption. And thus it became golden step in Indian history.

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Jawahar said: (Jan 29, 2018)  
To control the corruption of India, it's a good idea. But they are not implemented correctly. . This proved to be a powerful step but not a great one. There are several reasons to it. First of all, our poor class suffered a lot. Exchanging their small cash savings by standing in queues and lack of new currency notes was a backfire. There were also few instances where rich uses poor for exchange of money by offering a small amount of commission. Last but not the least, our people are in habit of making black money deposits and this has continued even after demonetization.

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Prema Reddy said: (Jan 28, 2018)  
Actually Banning of 500, 1000 rupees notes wasn't a good decision. Poor remained as poor and rich remained as rich it dint make a major difference it was just like changing clothes. There was even decrease in GDP ratio. As well middle class people faced lots of problems and 50% of corruption was stopped with this banning.

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Albert said: (Jan 27, 2018)  
In my opinion, ban of 500 and 1000 notes is just changing clothes. If the government had taken proper measurement of having the new notes printed way before banning the old notes would be better. Due to this many people were affected and those people were none other than the middle class people. The main reason for the ban was forgotten. The riches are still rich, the poor are still poor. The government took action on only few people who were against this ban. The rest of the people with black money, still have the same money. For ex: Consider what happened with the introduction of free Jio sim, all he did was give it free and spend all his black money. But now we are paying him back 3 month once. So banning of the old notes is just change of clothes.

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Mahesh said: (Jan 25, 2018)  
Hello,

In my opinion, the decision is taken by govt to carve out the currency of 500, 1000 is appreciable.

Yes, in real time it works but not effectively work to uproot the corruption due to the extension of the period. It was surprising to all the citizen to happen dramatically.

As recently grab the no. Of bags of containing 500 1000 notes which were smuggled to Nepal.

India may have many sources to convert the black money that is why income tax become attentive regarding loophole to carve out the sources.

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Vikram Dev said: (Jan 24, 2018)  
In my view, the decision is good the government also give their whole efforts to implement this decision and also they are fully ready to implement this decision but the problem arises by banks because in banks the people who are sitting on the seats are the same people who also involved in the corruption. So we can't simply blame the government. And this decision also effect the Indian economy the fake notes of 500 and 1000 are regulated in our economy so that why this decision of demonetization is necessary to stop these fake notes and also decrease the supply of money in the economy and its a very daring and tough decision the government to implement this step in such large economy.

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Mamta said: (Jan 24, 2018)  
Hi friends,

As we everyone knew that in this world everything has two sides good and bad. Demonetization was implemented on 8th November 2016 which created a boom in our country. Implementation of demonetisation was a good source or startup of reducing corruption. Although rural area people suffered a lots but for any startup of country development some or other has to face. Due to demonetisation there was huge shift towards electronic payment like paytm, bhim etc. This made the mode of transaction in easier way. Demonetisation also made corruption open eventhough it's not completely vanished but was a good step to reduce corruption. Finally, I would say for any startup to develop our country difficulties arises but that should be faced with unity.

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Saumy Tripathi said: (Jan 23, 2018)  
Here are some interesting facts on the multi-dimensional benefits of DEMONETISATION:

17.73 lakh suspicious cases identified that do not match the tax profile.
Deposits worth Rs 3.68 lakh crore under suspicion.
2.24 lakh shell companies faced the axe.
Stone-pelting incidents in Kashmir came down by 75% from the previous year.

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Pavan said: (Jan 21, 2018)  
Just changing clothes didn't change the entire scenario the same thing happens after some days or years 2000 notes stored instead of 1000 notes.

Corruption not earradicated but it was just stopped for some days and the same thing is happeneing now too.

People see any change in todays country.

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Batman said: (Jan 21, 2018)  
Hello Everyone!

I think it was one of the worst decision in Indian history. It was bad for Indian people, economy we still see result of it. From small villager to metro city everyone has faced many problems.

As far as corruption concern NOTHING HAS CHANGED. In fact all black money holder converted their money in white. The large amount of corruption happens in politics from Ministers to Government officials this amount varies from few to hundreds to thousands of Crore rupees.

So if you really wants fight against corruption and black money. Find the corrupt politicians, official who is still holding position.

Banning notes is not solution. Its like you think every single person in India holding black money at their homes. Instant of that just Identify the corrupt person and take action you have all power from CBI, ED, IT, Police etc.

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Anubhav Verma said: (Jan 20, 2018)  
I think the banning of 500-1000 notes, not a great step by Modi ji it is very painful for the village people to stand in a queue and replace those. Modi Ji again started 2000 notes which are again as an offer for the corrupt people.

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Neha Saxena said: (Jan 20, 2018)  
Hello everyone.

In my opinion, demonetisation was a great move in the Indian history which was implemented by our government of India on 8 November 2016. The main aim for this demonetisation was to eradicate corruption and to remove the circulation of black money from our country but I personally feel that the corruption has been reduced but not to that extent that it should be and if we talk about black money than Indian people will definitely find the new ways to counter this.

And more over the implementation of demonetisation could have been definitely better. Our Prime Minister suddenly banned the currency in the evening due to which many people have faced a lot of difficulties. The one who were supposed to face trouble were quite comfortable with it as they were higher class and they have their agents and servants who were standing in the queue but the middle class and the common people had to go through a lot of difficulty, they had to stand in long question for hours to deposit their old currency in the bank and to withdraw the cash from ATM.

Within a Span of two to three days there were a lot of downfall in the trade and due to which our GDP also went down during that financial year.

But like every coin had two sides. Apart from demrit demonetisation has resulted in emergence of digital transaction and there is a huge shift towards electronic payments after the note banned. The electronic method of payments are gaining popularity among the common people and this was after the demonetisation only.

So the conclusion is that the the main aim of this demonetisation had not been fulfilled completely so the government should find new ways to eradicate corruption and black money from the economy.

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Sayali said: (Jan 19, 2018)  
Hello.

The banning of 500 and 1000 notes is a great step taken by Modi government but it is not implemented in a right way. Because of this only middle and lower class people suffered a lot. Rich people are not get affected. At the time of need, people had not get their money which was earned by lots of efforts. They had to stand in a long queue to exchange their old notes with new ones. This was a good step to remove corruption but the people whom should get suffered are not suffered anymore even they had not taken any efforts to exchange their money. They had exchanged their money without any limits and without standing in a queue outside the bank.

Nothing is changed by banning this 500-1000 notes. It's just like changing clothes.

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Sachin Singh said: (Jan 19, 2018)  
Hi guyss.

It was a great step taken by our government.

Large loss of black money:- this conclusion is painful the ass for black money owners having vechicles of cash undeclared and experiencing without spending any tax.

More and more businesses will be sorted those who accept paper money only such as small jewelers hotal etc.

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Sayan said: (Jan 19, 2018)  
I think corruption will still be prevalent. Demonetisation was like a temporary halt to corruption. People are coming up new ways to counter this. Most of the promised black money was unearthed but there still remains some and will always remain some. Peopel are finding new ways to counter these. Recent instances of tampering in currency chests in kanpur where 99 crores worth of old 500 and 1000 notes proves that corruption is just old wine in a new bottle. Involvement of bank officials and forging of fake records and use of deceased persons's adhar cards to channelise illegal money have been some ways that corrupt people have been using to stack up black money.

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Sridhar said: (Jan 18, 2018)  
Hello everyone,

Acc to my point of view, demonetisation is the right decision taken by the government in the part of developing our country. Many of them thinking that they got troubled because of the demonetisation. But, nothing comes easily.

Many of them thinking that it was not implemented correctly and it is failed. But I'm saying that it is a great sucees to our country. Because, may be it is failed to get back the corrupted money but, now our country going through digital. Because of the demonetisation everyone is going through digital payments like paytm, bhim. Etc.

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Lavesh said: (Jan 16, 2018)  
As we all know demonetization suffer a lot for middle-class people but it was a good move for eradicating corruption seemed to be flipped also decrease our GDP but we seem some benefits later definitely.

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Sarath said: (Jan 16, 2018)  
Hai Everyone,

I think that the banning on the Rs 1000 and Rs 500 notes haven't uprooted corruption from our Society. The idea was good, but the problem is sides with how it was implemented. As mentioned it was just like changing of clothes. Even our Govt says it was a great step towards corruption no one knows about any corporate who had affected by the demonetization. It was the citizens and small vendors who had adversely affected by the whole process.

Even the design of the new notes can lead to the circulation counter fake notes in our economy, as most of us are unaware about the specification of the new currency. Thus I believe that the idea of demonetization was good step for the growth of our nations economy, the implementation of the idea has adversely affected more than 80 percent of people in India.

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Aish said: (Jan 16, 2018)  
The move was great but it was a difficult thing to be implemented in this country with 1.3 billion. No implementation would have been perfect. This move in itself is a transforming one. Instead of focussing on bad results we must look the positive side.

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Pathan Shahebaz said: (Jan 14, 2018)  
Hello everyone,

According to me, it was a good decision taken by the government But when it was implemented, it didn't succeed.

I think there was a lack of proper planning before implementing this idea.

According to me, if it was planned proper and implemented in a proper way, then it would have succeeded more and the people who faced money problems during this period wouldn't have faced such issues.

By the way, it reduced some rate of corruption and I found that govt. Is taking good steps regarding growth, development and economy of a country.

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Jitender said: (Jan 12, 2018)  
Hey everyone.

This is Jitender, Acc to my point of view ban 500, 1000 rs was a good decision taken by our govt but not implemented in such a way. Because it was create a lot of problems for poor peoples, small vendors, middle peoples who daily suffers a lot for their survival, and fulfills their essential needs. As Modi govt banned 500, 1000 rs notes it was cause a lot of problems standing people in a queue for long hours, as their turn comes bank employee said that there is no more money, many families had pulled out their daughter marriages, some peoples cannot take medical help, some can't buy necessary items, foods This all problems came from demonetisation. During Demonetisation only middle families, poor people suffered a lot, rich peoples have a connection with bank managers who can easily exchange their money without standing in a queue The idea was good to eradicate corruption but not implemented in a very helpful manner. Till now one year passed but no positive result come out. Its totally just like a changing clothes for rich people who can use their own power for changing money Due to all these only common people suffered a lot.

At last, I want to say that ban 500, 1000 rs was not just a rightful decision if you surely eradicate corruption from our country, firstly made plans and ready to tackle problems that come. Because mostly govt plans which have been launch only middle people suffered a lot.

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Trisha said: (Jan 12, 2018)  
Hello everyone.

Demonetization was a great initiative taken by PM Modi to stop corruption. But it's implementation was a big failure.

Mostly middle-class & the lower class family were affected by this. They have to stand in long queue to exchange their old notes with a new one. For rich people, it was just like changing clothes they have great influence on bank managers and these bank manager exchange their money.

Also, there was a shortage of 500, 1000 notes in the bank and atm machines so even when middle or lower class people go there they don't get money. They suffered the most.

It also reduces India's GDP to 6.3%.

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Srikar said: (Jan 11, 2018)  
Hello everyone,

I am Srikar, in my view, ban of notes is just a filtering process to exclude the black money from economy, and what happens to hear is everything in white now, however maybe someone thousand crores caught as black, that is not even one part of what they expected, I support the statement "corruption changing clothes" hope new ways come to do the desired task.

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Prasanna said: (Jan 10, 2018)  
Hello, guys,

I am Prasanna and what I think that yeah demonetization was a brave step from our PM Modiji and I am also agreed to the point that I caused a lot suffer to only the poor and middle-class population of our country. But since as we Indians know that Congress were ruling India for so long and we have witnessed many scams from that time the corruption started spreading like cancer. He Mr. Modi ji has got only 5 years to do some serious changes so that we can have better future for us. Yeah banning of 500 and 1000 notes were looking like a giant step in order to eradicate the corruption but it didn't work the way it had to. But the step had to be taken there was no other way we could think that could possibly eradicate corruption from its root. So the step had taken and we suffered but at least what I see people now are getting aware of all these they are getting curious about how they can possibly avoid corruption on their own. This is what we need, we need to stop this from ourselves. Because the complete burnout of corruption is not possible. So we need to accept the steps if there's a little hope for a better future. We need to suffer a little as we are the people who wants this country to get corruption free. But the first thing to do is it needs not to spread from the oneself. Thank you.

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Mohammad said: (Jan 10, 2018)  
Demonization was a good step to take the black money out to remove the corruption but the execution was a complete failure they didn't able to provide the new notes on time because of that people suffered and no politician or rich people was standing in the queue there were only poor and middle class people who stood in line for hours, and most of the rich people have connection with the bank managers as we all know they changed there notes without standing on the queue and poor people suffered for their own money and just for few notes the execution was complete failure and now we can see it hasn't changed anything everything is still the same.

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Ban 500, 1000 notes - Corruption Uprooted or just changing clothes!

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