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

In a bid to weed out corruption from our country and it has positive consequences for some extent because we often get news of sporadic "cash stashing" and results into cash crunch in market as recently we saw "cash crunch" in ATM.

Hence ban 500, 1000 notes couldn't able to eradicate corruption but yes it would be used as tool to curb out corruption - availability of cash area could be able to find out as government has data of it and raids could be carried out as happend in karnataka where government contractor stashed cash in crores.

Definitely, corruption uprooted by banning 500 and 1000 rs notes. Only corrupted people face difficulty due to demonetization because there precious is in danger so they have to find several ways to save their taxless money. My family did not face any difficulty at that time because we did not have black money the only difficulty we faced is to be in the queue to withdraw money.

People died during standing in a queue how it could be a good step? those people have marriages or some other events in their houses they didn't have money gov didn't make any plan for them they made it later govt every time provide solution when people suffered from it they didn't think it earlier Before implementing. I would say It was a foolish step.

Obviously, implementation was not so good. It implemented in a hurry to make public fond of Modi as it was announced in 8 nov 2016 and there was an election in UP in Feb 2017 so gov think that this is a right time to implement and till the election, the problem will come in under control and this makes Modi famous in the country. That's why they announced demonetisation in a hurry they know if they would take some more time then maybe the situation will not be under control until election and people will not vote him. So demonetisation was for the benefit of their party. As we all know how media make this news a sensation and Modi a good leader. But it was just POLITICS.

I have been coming through many posts here, and I want to share my opinion.

In my opinion, demonetization is mostly kind of changing clothes more than tackle with corruption, Exploring black money.

It definites that it was a powerful, bold step taken by our honourable PM Shri Narendra Modi but unfortunately it is not becoming a success. According to me, it is most kind of changing clothes because whatever the circulation of the money was 99 percent of that has been coming back to RBI. Therefore there is no cracking of black money. Many corrupt people were able to change there high-value denomination 500 and 1000 rupee note very easily by shaking hands with bank managers. In case of corruption high-value currency is very useful as it is easily carriable and of course high value due to which they could keep the huge value of money in a single file, therefore it was good to demonetize to crack that corrupt money. But again a high value of currency note 2000 rupee has been coming which has high value than before, therefore this will again lead to corruption. That is why I want to say this is mostly changing cloth. It has a very little significant crackdown on black money which is more than the cost that has been spending in demonetization. Not only that most middle class and poor people were suffered more.

Hello everyone,

According to my point of view, demonetization is the great step taken by PM Modi to stop corruption in our country because it is the main problem of our country.

But its not work in proper way because of this most of the middle and lower class family suffer so much. Thet have to stand in long queue to change their note and the other side for rich people its just like to change a cloth from the shop. They use their contact to the bank managers to change their notes.

Demonetization directly affects the poor people who stand in long queue to change their notes. They soffered so much.

Ban of 500, 1000 notes is a great initiative taken by our government to control corruption but there is no proper strategy have a government so that decision of ban note successfully achieved.

In context to demonetisation of 500 and 1000 notes, my opinion is that it just changing clothes. As we can saw easily that intially this step is welcomed by almost everyone even by middle class and poor people in a hope of helping government and discarding black money and ofcourse corruption from society though they are the part of society which have to face a lot of problem during this phase. People have to stand in lengthy queue for exchanging notes, they even couldn't have sufficient money to buy their daily use products.

Also, as claimed by some news reports, rich people had information about this demonetsation before its actual announcement so they smartly converted their illicit money and don't have to face a lot of problems as faced by lower class. Societies. In addition to this as reported by some politicians and economist most of the illegal money is in the form of jewellery, properties so this banning has no such good effect on discarding black money from society.

As reported on august 2017 that 99% of banned currency was deposited well in banks leading to only Rs 14000 crore of total denominised money had been discarded leading to total failure of highy preplanned stratergy.

A Decision on Ban of 500/1000 notes was beneficial because of following reasons:

1) it uprooted corruption not completely but up to some extent (it gave hope to middle/ poor class people about the reduction of corruption).

2) after long run (5-10 year) peoples will attract towards digital payment system (it will create transparency).

3) the number of the taxpayer was increased.

However, the decision to note ban was not pre-planned. Hence, Indian peoples face lots of difficulties like standing in the queue for an hour/shortage of cash in bank / many industrialists suffer losses / our GDP went down etc.

Ultimately, we can say that due to note ban fake currency which was used for terrorism & other activity, is completely eradicated.

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.