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

As per my opinion, it's not changing clothes, no it's not. The effective steps which have taken by our government, this has really a big reason behind this. To make a corruption free India, government banned 500 and 1000 rupees note, which is demonetization. Though by this demonetization government could not uproot the corruption completely, could not reduce the black money, but it was a big step towards making a corruption free India. Some people take this demonetization pessimistically, as it does not get any success in reducing black money. But I believe in the positive sides of this, as it has definitely created some fear in the mind of corrupted persons, now they will think twice before doing any corruption. I think that government should be taken more steps like this against this corrupted people to uprooted the corruption completely and make a beautiful and corruption free India.

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.

Rules made to be broken. So, I think its a bold decision with an experimental strategy or you can say its a trial and error method. Reason No. 1: If we want to see changes in a positive way we should support our PM's decision and give this govt at least 1-year time to judge this announcement.

Reason No. 2: Every new thing comes with some positive and negative. For a temporary period negative outcomes suffer us. But if we really want to give a big slap on corruption, terrorism, black money we have to digest this small pain.

At current scenario, I am supporting our PM who really need us. If we want to see changes in the system first start making changes in itself.

Then there will be no need to ban notes for this. Because every solution is hidden in their problem. . Starts with yourself instead of pointing fingers to others decision. To participate in changes first change yourself.

According to my perspective, The Demonetization was a very bold and a good decision was taken by our owner able prime minister Mr.Modi. It has some benefits and as well as some loses also. First I want to talk about the benefits as we all know that all black money and fake currency holders are use most of the 500 and 1000 rs. Notes for their unauthorized and illegal transaction but after this demonetization their illegal property have no more valuable. As result we can found a big amount of 500 and 1000 rs notes in dustbin and gutters etc. That means it had affected corruption.

Coming to the loses it was also because of the government as the government should prepare them self and their workers for it before they allowance it publically that is they must have print enough amount of new notes before they allowance it so the common people wouldn't affect that much as they affected.

I would like to raise few points regarding this:-

1) How much black money is eradicated? only 12%! Rest of it is still in the form of gold, private properties and SWISS bank account. Just for this, you had shaken the whole Indian economy, affected living of middle class and poor.

2) GDP had declined from 7.6 to 7.1% after the announcement of this act.

3) What is the surety that with new notes of 500 and 2000, no hoarding can be possible? Notes are same, just the presentation that makes them different.

4) Not for the first time, demonetisation occurred in India, in 1946 (ban of 500, 1000, 10000) and 1978 (ban of 1000, 5000, 10000), and till now corruption had increased rapidly.

5) Statement of our former finance minister " If 86% of currency is immobilized, then the economy can function".

So I think demonetisation will not prove so much fruitful as we Indians are expecting.

I am Lavanya. Coming to my point of view, demonetization is a good method. But what the procedure they take that's absolutely not correct. Because Modiji has taken his decision immediately for most of the black money people. But that affected mostly common people. Already, my friends said after that so many people in the queue at ATM centres. And those who have black money, they changed their currency with common people by giving a commission for that. So, that there was safe, but a lot of people struggled for that. After that, government Introduces new notes that is 2000, 500 rupees notes. OK, removed 1000 & 500 rupees that is good. But what is the use of introducing 2000 rupees? It is easily secured their money for black money candidate's. There is no use of that. So, finally what I saying that demonetization of currency is over, but there is no change in our country.

Hello friends.

According to my point of view, demonetization is a big step taken by our government to stop corruption. Actually, demonetization is a process of imposing a ban on 500 and 1000 notes. It is a major step taken by the government on 8 November 2016.

In my point of view, it is a good step. Actually, everything has some advantage and disadvantage. There is some problem faced by the people due to note ban, but after that, a big change can be seen in our Indian economy. According to the latest report by World Economic report, India ranked 40 in terms of economic growth.

The USA prime minister donald trump's daughter said that india's economy is increasing at a faster rate than ever. According to the latest report, our GDP has increased from 7.2% to 7.5%. At last I want to say that this is one of the major step towards the development of Indian economy.

Thank you.

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.

Hi, friends. A lot of conjectures are going on in this forum regarding.

The introduction of 2000 rupee note. It is true that now the higher value of the currency can be carried without much effort and 2000 rupee notes are more prone to become the victim of the parallel economy. But we have to understand the real scenario. GOI had completely banned 500 and 1000 rupee note and that is why about 75% of the total cash amount of Indian economy vanished. So to compensate this crisis Indian economists decided to stabilise the economy by the introduction of 2000 rupee note within a short span of time. The time is taken for the press to print a 100 rupee note and 2000 rupee note is same but by printing 2000 rupee note, it could pile up enough cash to stabilise the economy quickly, otherwise, it produces a negative impact on GDP and it could result in a severe economic crisis.

" Rome was not built in a day" in same way any initiative taken by the government does not show its effects immediately. The ban of 500 and 1000 notes was a bold move taken by the central bank and the government of India. These notes accounted to almost 86% of the currency circulation in India and to put a stop on this was not a cakewalk.

It's true that almost all classes had to suffer due to this initiative but overall it had has proved fruitful. Many unaccounted incomes was disclosed. Every day in newspapers or news channels there was news about bags being found with these notes which proved that people held these notes in an unscrupulous way.

The charging of Garib kalyan cess and swacch Bharat cess on undisclosed income was another step taken by the government to help narrow the gap between rich and poor. It also helped for the development of the country.