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

A good part of the black money is eliminated from the country and is better to use for the development of the country. In my point of view, this is only better full for large sectors but not for small sectors.

According to me, corruption is a very big problem of our country it is not completely uprooted by demonetization but it is a very bold step taken by our prime minister. Due to Demonetization Indian economy increased by 0.6%. In 2015 our GDP rate is 7.0% and now it is 7.6% so it can't be say that ban 500, 1000 notes is just changing clothes. I agree that common people tackled many problems due to demonetization but they all support our honourable PM because all have hope in their eyes that such a small steps taken by government uproot corruption completely.

Hai, friends.

To ban 500/1000 Rs notes were good to ban suddenly even if poor and middle-class people suffered so much but to ban these big notes was a big step to stop a major crime in our country during elections because if a danger crime takes place so because of huge money.

But I would like to know that, why has the government not re-opened 1000 Rs notes?
I think the says might be that we are banning 500/1000 Rs notes and reopening 500, 1000 and one more 2000 Rs note.

Hi friends,

Good morning to all,

In my point of view, The prime minister takes a good decision in 500, 1000. But most of the peoples don't use 1000, 500. Maximum the political and rich business man's are using. The big suffer from normal peoples for daily wages. Villages side's many peoples are suffering from this decision. They don't know about online banking and then government rules and regulations. So This decision is correct but corruption and black money are not reduced in the process, are continue to the India. So the prime minister Modi action is not reduced in corruption and then black money because the black money is safely in an abroad bank. So really affected for normal peoples and then village side. The corruption is not uprooted it's not changed TO the cloths because of Indians are not used in only Indian product, they are used in all foreign products so the economic levels growing is not well. First of all, all Indians are using only the Indian product they got the first place to the all the country because Indians are hard worKer and more than knowledgeable person's but they are not using. This is the big fault for in my country. The many Indians are working in abroad so in my country economic growing is not well. So Indians are come to your won country. That's all my point view friends.

Yes, the demonetization is a bold step taken by our Government In some extent, black money reduced by demonetization but if it has planned previously then it would be more effective in decreasing black money. Citizens of our country faced many problems but if we want for the development of our nation then we have to contribute some from our side. In the other hand, people faced problems by standing in a queue in front of banks and ATM for exchanging their currency. By demonetization the growth rate of the digital transaction has been increasing. Which is a bold change in economy growth of India. So it was just not changing clothing. It changed a lot.

Demonetisation has not been able to create the effect it was meant for :

-> The initial propaganda attached with the move was to eradicate black money. Though, 14 trillion out of 14.3 trillion rupees of notes scrapped are now accounted for, which means the black money hoarders have proved adept to launder black into white. apart from using phony bank accounts, corrupt bankers made sure to make the way comfy for big guns.

-> Demonetisation saw a spike in deposits in Jandhan accounts but a couple of months later stats suggest those were mere proxy deposits and money is being withdrawn at an even higher rate.

-> Another stated goal of demonetization has been to fight counterfeiting of currency. It is estimated that 250 out of every million note are fake and often claimed as a fuel for terrorism. This may be effective for short term but it is almost impossible to completely eradicate fake currency with current security features of note.

This drive has definitely uprooted the mind game of many blackmoney holders.

More effective defaulters who think that nobody will take action against their black money. This intention has definitely reduced. People who were following their rools and becoming a defaulter at small stage they have been uprooted completely. In a single line. The upgoing business on black money has got a strock. Mostly in Pakistan and other nebouring contries who were easily printing our currency. They may have printed a lot. But by ths drive the huge corruption has been closed. They may print again our new currency but they have to keep in mind about this drive. Govt has taken a good decision and should continue it in future. If we consider a common people who had to faced dificulties in demonetisation. Actually keeping in view of the ongoing corruption he has supported the govt willingly and happily. Burning of old notes, filing huge taxes, provide donations, request poor people or own relatives to take loans without intterest these all show that the corruption has got a little bit attack by the drive.

I think banning 500, 1000 notes its just a changing clothes. Because government does not make a proper plan for that, in cities people know the online transaction, but in villages poor people dependent on notes, and they not even know about online transaction, that's why because of banning notes they poor people facing problems like marriage, medical, they not have money that time and rich people have enough money to keep their life good way, and mostly corrupt people invest there 80%money in gold or land and only 20%they access and storing the money.

Because of that demonitization is affected are mostly poor and common people, and corrupt people enjoyed because they have lots of ideas to turning money to black to white. So I think that banning the 500 and 1000 notes it just a changing clothes.

According to me, it's very difficult to uproot the black money from our country, we all are in the support our PM but still people abusing him for such kind of initiative, demonetization is not a magic wand to eradicate like a weeds from the land by weedicides, its a strong decision by our PM after a long time, even we are suffered from this (especially middle and poor peoples) and at last Swiss account holder never get trapped and the land mafia's, they are just giant of our society.

Hello, everybody.

The topic of discussion here is the one that recently has affected our country in every possible aspect. In my point of view, banning 500, 1000 notes was a bold and thoughtful decision by honourable PM, as it has to face a lot of opposition. But on other hand, it was a really good step to stop hoarding money by so called paisawale of County as black money is stored mainly in a big denomination. On the other hand, we can't say that with this step, corruption is uprooted. Because it's a series of well-planned actions for a common goal. So we can say that it's a step we have moved toward corruption free country.