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

In my opinion, the government has a set of ideas towards curbing the corruption and note ban is just a step towards it. There were many people who have stacked the amount safe in their lockers which has become useless. So if the whole idea to stop corruption would be just to ban the notes, then it won't be efficient enough as it's just giving the head start to all those corrupted people.

But if as promised the government has planned well the further steps and also the government has planned for the nation to become cashless in coming years, then I think this note ban will work pretty well in that case.

It's a historic step taken by the government at the centre whether it will be beneficial in uprooting corruption is a matter of how one perceives this decision of demonetization of 1000 and 500 rupee notes. According to me, it's a very bold move and with its implementation, the government has shown great intent in getting away with corruption. Though the middle and lower class people of the society are getting affected with this step but I believe it's a short-term pain with huge benefits in the long run. Apart from it, the digital push encouraged by the government should be taken seriously as it is Hassel free and quick to access though there are problems too with it as for the people living in the rural areas are not well known with these technologies and they don't either possess digital cell phones, laptops etc. To conclude I would like to end by saying this step taken up by the government of India is a very bold step against corruption.

Whether this banning of the notes will be a success, will utmostly depend on the way people perceives it and accordingly do their bit in helping the government and in return government must also listen to people's grievances with regard to this demonetization cash crunch and should take necessary steps.

We see that demonetization occur it affect our life lot of difficulties has been faced by us but the positive impact is that people who take advantage of tax evasion it become therefore serious challenges for that people now they all describe of all sources of money.

According to me, Demonisation has both advantages and disadvantages.All black money holders put their money in the SWISS.it has some rules.

* It doesn't show/reveal how much money is deposited by the account holders.
* It doesn't have any limit for the money to deposit.

So, first, our government has to show that the property deposited by the holders is not legal.then the SWISS allows them to know the details of the holders.

But it is a time taken process.we have to wait for it. And if we come to disadvantages,
Common man has faced so many problems due to ban of 500 and 1000 notes.waiting at the banks, standing in the queue lines at ATM etc. These type of problems made the people to suffer. Now, almost all the problems related to the ban of 500, 1000 notes are cleared. Now, we have to wait for how black money will come to reveal and how does it affects.

I think one effect that de-monetization saw is uprooting corruption to much extent. India is a vast country, so corruption also comes in that big size. And expecting that being uprooted in one go is unfair. A big section of the black money in India is in form of 500/1000 rupees notes, thanks to corruption. So banning these notes is, no doubt, a revolutionary step, by which black money holders were bound to unfold their money. We saw a series of headlines stating a huge amount of black money being seized by IT department. All this was possible only due to the ban of 500/1000 notes.

One more thing that can not be neglected is the boost to the digital economy with de-monetization. Promoting cashless economy is another hit to corruption.

Summarising it all, I would say that corruption is a very big, deep- rooted problem of India. Ban of 500/1000 rupees notes is just a small but effective initiative to uproot it. Expecting complete uproot of the corruption is unfair. We are surely going to see several more steps against corruption, some of them already being implemented are limiting cash transaction to 2 lacs, seizing of benami property etc.

Demonetization has caused a lot of ruckus in our country. When our honorable prime minister had brought to notice that high currency denominations will be discontinued from the midnight of 8 November, the whole country was plunged into chaos. The bold move taken by our government has badly shaken all the corrupted people who have stacked a lot of amount in their lockers. For some, it became a nightmare since they have done very hard work to earn black money (More's the pity). The considerable part is the inconveniences faced by common people as they have to lined up in long queues for whole day outside the bank for about a month. Many people have criticized this move openly. Also, opposition parties have left no stone unturned to poisoned people's mind against the move. This is true that demonetization has created a lot of hurdles for common people, but what made demonetization interesting is that apart from all the anxiety that people had, a huge part of population has come out to support it. The reason may be that demonetization has created a hope among people that it will tackle the menace of black money. But the sad part is that demonetization didn't turn out that effective to curb black money problem because a lot of illicit wealth is held by corrupted people in the form of benami property, gold etc. At last I would like to say that as a citizen of our nation, I think we need to understand that demonetization is just a step towards removing the stigma of black money from our country. So we should appreciate the government for its brave move and give full support so that government could take some action further in future to eradicate black money problem completely.

Few month back government had decided to ban existing 500 and 1000 rupees notes. In my point of it serves different purposes like,

1. In India Tax evasion is a common thing, people deposit cash to not to give tax. Now it will bring all those money into an economy system and the government will collect a suitable tax. Son ultimately it is going to strengthen the economy.

2. Fake currency had become a headache for the government, now the government has changed a lot of feature of its existing currency which is impossible to copy.

3. Terrorist organisation were using old 500 and 1000 rupees notes against our country for their mission in our country. Now this move will rein on their mission.

And it has also benefited from pushing toward digital India and much more.

There are some advantages and disadvantages with this decision. Yes, there are chances to eradicate some amount of corruption. But poor and middle-class people have aced so many problems by standing in queues for so many days in front of ATM's. Some people had lost their standing in the queues with the health problems, even old people also had faced problems. I think this not the appropriate decision or this is not a right way to take eradicate corruption.

All the black money holders are either having multiple bank accounts or they have their own corporate banks. They have changed their currency in a huge amount by their personal banks. So, I think only a common man suffers for demonetization and corruption only changed its clothes.

Well, according to me, demonetization was a good move which went in the wrong way. It was meant to dig out the black money, but I feel it failed miserably. So many cases of money laundering were in the media buzz. And the government should have come up with some steps to put a stop on tax evasion in the near future, but that is also one area at which it lagged.