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

From my point of view, I think demonetization of high currency notes is a very good step taken towards the goal to end corruption, But we need to know that corruption is not happening just from black money although black money or evading tax is one of the major cause but other factors by which corruption happens needs to be taken care of. I believe its just a first step more will come in future in this regard.

It is obvious that ban of 500 and 1000 note have the major effects on black money opposition not on corruption, because what we generally know corruption is not taking money only but service also in the form of money. Another aspect I want to touch if an officer wants money as a corruption he can take in 2000 notes also. So if any technique is adopted in the making of notes to keep track of a large amount of money deposition at any place then only we can say we are approaching towards the goal that is one and only corruption. Otherwise, it is wise to say it is just changing clothes.

Hi, according to me, it's just waste of time don't you all think what poor and rich everyone is suffering but some rich are still having their new notes Did Narendra Modi had did anything against to them?

Hi. Well withdrawing high-value notes from circulation and introducing new and higher denominations notes i.e. 2k rupee notes is definitely a big risk, yet a calculated one. With the demonitization phase, the government needed a currency denomination that could reach to the people in less time, holding a high value. Minting 100, 500, 1000 denomination notes would be taken time for the central bank, and difficult to curb the corruption and uprooting the black money circulating in the economy. I think this is the biggest reason for introducing a note which has high value and with less minting cost, hence cost effective for the government The black money holder have had 500 and 1000 denomination notes stored in bulk. Banning these notes will help in uprooting black money. Though this going to affect the economy for some time but this is something desirable for the benefits in long run.

Hi I am Praveen Chahar.

In my point of view, note ban has hit the terrorist activities. It is also a good step for Indian economy. But it didn't uproot the corruption totally. Some level of corruption had been uprooted by one decision taken by our prime minister Narendra Modi and his team including Arun Jaitley.

Thank you.

On the night of 8th November 2016, when PM announced demonetisation of 500/1000 Rupees notes, I thought that it would benefit Indian economy a lot, but now I think, that it was not a very well planned decision.

I am writing against the motion, I.E, corruption is not uprooted, its just changing clothes. In order to support my point, I have few points which are-.

1- 87% of the currency in circulation in the economy was in the form of 500/1000 rupees notes, banning it has created chaos in the economy, and the worst sufferers of the move are poor and the middle-class people.

2- The rich class people who are actually the hoarders of black money, have exchanged their money by bribing the bank officials. Several raids conducted by IT officials found hoardings of crores of rupees in new currency, despite the fact that the ATM withdrawal limit was 2400 Rs/day and 24000 Rs/week from the bank.

3- Middle class and poor have actually faced the worst effects of demonetization, standing in queues to withdraw money from ATMs/Banks.

4- Newspaper reports shows several persons have committed suicides due to non-availability of money, or died to stand in queues for hours.

5- Around 15 lacks crore money was estimated to be in the form of Rs 500/Rs 1000 before demonetization, and around 12-13 lakh crores have been deposited in banks, so not much money is recovered and is obviously not the worth of what the people have gone through those 50 days.

Finally, I would like to conclude that it was not well-prepared decision, the Modi government has started demonetization by saying that it would uproot corruption, but ended by proposing to adopt digital modes of payment. The actual figures of black money recovered is still not revealed and that clearly shows that not much money was recovered from the move. Thank you.

Hello friends.

I agree your speech. But 1000 & 500note are not to corruption. It depends on you. It depend on how types of using it, First time note are change in 1972 and second time 2016. It is right thing by Modi Ji.

Hello everyone, the notes ban of 500 and 1000 is defined as - corrupted peoples, ministers, common man, rich peoples, are affected we all know that but what is the point ATM money is that all matter. I saw people's they die from the first day. I remember that day of demonstrations I was in my village that there has only one bank 5000 of nearby people's have almost died. Sometimes I really felt sad it is not about people's it is about needed. I feel people's are too fool and always be like that our government fools everyone like they did for voting time man needs is necessary, I was respected the decision even this decision is good for me, I m not affected of this all. But it was ok I belong from Raipur Chhattisgarh and there are no more problems in bank ATM it was just for a month so let it be. But I was going to other states Maharashtra same people's I saw facing the problems of demonstrations I heard by an automaton he said that our government fools everyone for voting. I asked reasons he said after banning of notes 1000-2000 crore investing in wedding or marriage by minister, yes I was shocked because we know ministers are ministers rich peoples isn't face problems or investigation. Why there is no investigation after banning of investment. 2500 is limit for common man that is the difference between us man and a government. All ministers are corrupted. Isn't matter what you thinking the good going thing is changes. Hope so our prime minister is going good or doing good. * International response to this move is positive.

Hi, I am Yakesh. My opinion towards this topic is a ban of 500 and 1000 rupees note is just a waste of money, time, lot of people's energy and many people's life. It has very small effect on India's black money. Many politicians, actors and big personalities not anyone specific have crores and crores of black money in swiss and many foreign accounts. Banning the old rupee note in India is not going to affect their bank balance. This has just made middle-class people's life a misery.

Hi everyone,

I think demonetisation is correct to some extent but not wholly and the problem is that the rich people are converting their black money into white and did you people observed that such a kind of conversion is happening with the help of bank managers, employees, brokers and even RBI staff are also supporting for the same. The government can take the strict action on those who are encouraging such kind of economical disruptions and I think govt. Had got some amount of tax due to demonitisation which helps us to some lesser tax burden further.