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

Hello, friends.

According to my point of view a definitely bold move of the government to ban denomination of Rs. 500 and Rs. 1000 can never uproot corruption completely it just changing clothes because corruption is not in the form of currency notes it is in our blood. It can not eliminate only steps taken by government, If we want to eliminate corruption from our nation then first we need to change our mindset then only possible our country will free from corruption.

By banning of denomonation of Rs. 500 & Rs. 1000 notes will prominent effect those people who stored money with them in form of cash that is called as black money.

The main motive of demonitisation is to remove black money from the Indian economy and become digitalized.

Advantages of note ban.

1- It helps to stop illegal activities like terror funding, arms dealing from Pakistan, Bangladesh, and Some of foreign countries, gambling, money laundering, and also inflating the major asset class like real state, gold and due to denominitization all such activities will get reduced.

2- This step also removes a large amount of counterfeit currency from Indian economy. Because about 86% currency in Indian economy in the form of 500 and 1000 Rs notes. If this step would not take by the govt on 8th of November 2016 then after some years 70 to 75% of Indian economy will be full of fake notes.

3- If any person having black money decides to deposit money in his/her account and pay the taxes which he/she avoided in past, these taxes will benefit the nation itself.

4- The newer currency notes of denomination 500 & 1000 are much more secure and difficult to fake.

5- Banning of denomination 500 & 1000 will lead to fair election because all knows how black money used by politicians in the time of election. Political leader used to give their black money to people and buy their votes or drunk them for their votes. By banning of denomination 500 & 1000 it will stop at some extent and led to fair election.

6- Banning of denomination 500 & 1000 led to decrease corruption for some months because it takes time to find new techniques for corruption with new system by the damaged traitors.

Disadvantages.

1- Denomitization has created a sort of inconvience to people regarding exchange of their 500&1000 Rs notes.

2- It would impact on daily wage earners like drivers, maids, Plumbers, electricians, cooks etc.

3- People live in rural areas suffer more because in most of rural areas people don't have the bank accounts and don't know about online transit. System. And banks are also far from their villages. They left their work for 2-3 days and stand in question for exchanging their money.

4- People whose daughter, sister, son having marriage within those 50 days suffer more because on that time unavailability of cash in ATMs and also in banks.

5- Big earners left out of their black money in the form of foreign currency, Gold, and are hidden from taxes.

6-On the time of denomitization there are around 29, 527 SBI ATMs are in working condition out of 58, 541 SBI ATMs. Because of that people suffer more.

7-Now a days it is difficult to get change of new. 2000 Rs note because there is less number of new 500 Rs notes in circulation.

8- People who got injured within those 50 days suffer more because in hospitals they said that first you have to pay money of new currency notes for further treatment.

So, in conclusion, I want to say that this is very good plan made by our government But the implementation is not good it recovers the 85% of black money within the country that will help in future to increase the GDP of our country and remove some extent of poverty from country. And denomitization decrease corruption only some extent if we want to remove corruption completely we have to change our mindset and work honestly for the people.

Good afternoon.

Well corruption has its deep roots. It cannot be completely uprooted with a single move. By banning 500 & 1000 rs. Notes, our hon. President Mr. Modi has initiated a move against it. The effects of this ban has created chaos among the black money hoarders ultimately busting a few many. Digitization is promising since whatever transaction is made is under surveillance. It may have a positive impact on our economy by bringing back the black money to the government's treasure, thus resulting in price fall which are under public sectors. The fight against corruption has just begun.

Hai friends,

In my point of view, it's purely the corruption is just changing its clothes. We can't uproot the corruption from it's roots but by this acts like demonstration will change a lot.

Our Modi sir have to implement many and more acts like this. Then automatically the nation will be changed.

According to me, banning of these notes just gave some rest to people who do corruption and now they took new ways for doing this. "Nothing changes".

I do not think that by simply demonetising higher denomination currency can uproot corruption.

It may have halted the extent of corruption temporarily. Because of lions shares of black assets in.

India was in non-liquid forms.

Secondly, most of the black money are illegally stashed in offshores tax heavens, as we know it.

From Panama Paper leak.

Thirdly, counterfeit notes may have temporarily stopped but it will emerge again.

Hello friends, this ban has just been corruption changing clothes. Demonetisation of big value notes brought out new faces of corruption like those of bank employees, finance agents as everyday newspaper highlighted such ample news. Corrupt individuals would find some or other way to break the law and feed their greed. Also its not only in cash that a highly corrupt person keeps his money. It can be in form of gold, swiss accounts, real estates. The impact of demonetization is being far borne by common man for his hard earned money. Nobody is questioning the real stakes of black money. For where did it came from. How did it come, etc? It's only about common man's money being questioned. Now with new high-value currency of 2000/-, the corruption would continue to take place. By introducing Rs. 2000/- note, the aim of banning high-value notes is seeming absurd and blurred.

Hello everyone,

That's great! many of us have mentioned good points, as far as I concern, it's very difficult to get rid of black money because even after the Demonetization people started the same strategies with respect to their respective black currency and taking to initial peak. If government Or any other would try to rid it of their black hair turns white!

I think banning of 500, 1000 notes was a good decision by government of India. By this reason, we will reduce the corrupted money and by getting new notes there is a nano chip where it will find the black money easily.

Everything has its positive and negative aspects. When we are on the edge of making decisions we must consider the maximum positivity of the taken step or decision rather than finding negativity through some disturbing perception. So as I go through this opinion I can say it's a little but good step taken by present government when no step had been taken ever before. Through this, a minimum amount of black money can be counted but it's better rather than counting zero. Also, a vast number of people from some parts of rural India steps into the banking system. It sounds good when we are talking about financial inclusion, an indirect one. But also I say that the step should be taken after measuring some possible mess so we could easily skip some problems faced by general working people faced during the demonetization. Yaa it's like changing clothes but sometimes changing clothes with new clothes change the perception of viewers. It's a good step.

Hello Everyone.

According to me, demonetization was just a temporary method to remove corruption so that common will take rest for some time.

But the corrupted person will find many ways to do corruption again.