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

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 me, the ban imposed by PM on 8th November had a very huge impact on the most corrupted people in india, because, they were high denomination notes and takin off the legal tender of such notes would have definetly hampered. There is no other way to implement this type of proactive step by GOI. And it is not the first time. Ultimate benefit will be always for us in the long run. And we are not discounting the life of those 93 people who lost their life owing to demonetization. One should remember. NO PAIN NO GAIN. It is one forward methord to curb black money stashing and hoarding. Jan dhan accounts experianced a very huge hike in the terms o deposits. This has also boosted digital India motive.

I think, demonetization of India by pm was a great mission but we can't succeed 100% because our political leaders have a huge amount of black many that's the way they are making the rule and find the wrong way to save themselves, so we don't make the mission successful.

According to me, it was a good move by GOI.

Major impact of demonetisation helped to curbe black money, terrorism, kidnapping and human trafficking etc.

If effectively implemented with some other laws such as benami property law it will have grater impact on long term economy.

Some people have caught red handed but still, there are many who transformed their black money to different forms such as properties (house, plot, farms) , shares, gold, petrol, automobiles. Some illegally exchanged notes in banks by taking help of bank employees. Some people have given poor people their money for few days and will later take their money back from them so that they don't have to give an explanation to the government. Still, many people had a huge amount of money so they had thrown it in dump pits, lakes, rivers etc. So, corruption is not uprooted, it has just changed its clothes.

In my opinion, I think it's just a change of clothes, if the project of banning was properly planned then it would have been much better and no person would have lost their lives in this process. I think it was applied in real hurry that's why even before printing the new notes the old currency was banned rather notes should have been printed earlier to avoid this chaos.

Now, coming back to the topic its just change of clothes, recently I checked in to a hotel in Delhi, the heart of India, and the manager won't accept credit/debit cards they just want cash, banning can't solve corruption it's in the soil it can't be uprooted.

The Solution is just to ensure proper e-payments at every place so as to avoid corruption.

In my opinion, though banning old 500 and 1000 notes and releasing new 500 and 1000 notes looks a lot like changing clothes but it does have served some purpose in uprooting corruption. Maybe a major portion of black money have been converted into legal form by various means but now this money would be taxed by the government, because of the shortage of cash parallel economy is shrinking as most of the black economies are unbanked and operate through cash.

Ban 500, 1000 notes - GOI taken a very effective step in the economy of India. They Ban old notes which have a huge effect on corruption and people associated with corruption. Somewhere there is a positive as well s negitive impact on the economy for demonitaization. As surprisingly PM announced about the demonitization. It has a huge impact on Lower and Middle Class people. It satisfies both that Corruption uprooted and somewhere it just a changing clothes.

In my opinion, the corruption hasn't uprooted because earlier it was hefty to keep large amount of money since the notes were small valued max at 1000rs so for 1 lakh the person had 100 note bills of 1000 but now it has become much easier as the same value has been turned down to 50 notes of 2000 so it is much easier for a person.

Secondly note ban brought alot of illegal exchanges of notes, there were instances where some bank employees were exchanging notes at a rate suppose 8000 rs in new currency for 10000 old currency so thus promoting corruption at certain levels.

Hello,

Demonization is a big step taken by our government and I support that because if we are asking any person about ban 500, 1000 notes is a corruption uprooted step or just changing clothes then 95% people answered that yes we feel some problem because we have to stay whole day in bank and not going to office or their place of work but even they says it is a great step taken by Narendra Modi.

And of course as we all know if we want to change our country from developing to developed country we have to face some problem but taken big steps as like demonization.

Thank you.