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

I want to add a short and simple point here, I believe no nation is corruption free in the world as its the greed which is in every man's nature, Banning the notes is a good step because all the black money comes out immediately and it categorically equals the natural balance of the economically diverse communities. So basically you are cleaning the dark dead spots of a cloth which are there for a very long time, and you make it clean as new. I agree there is also a poor percentage of people in our country who will be suffering this change but let's not forget that today's pain is tomorrow's gain, so it's not just changing the cloths its making them clean as new.

In my point of view, banning of 500 and 1000 rs notes is a great decision of our PM Narendra Modi. It is a step to control of flowing of black money but by implementing this step is not good. Becuase some people who have the influence they easily change their money to white and some bank managers also supported them. This is the main drawback of this banning money. It will effect some more but not heavily effects who have black money. And another drawback is most of the elder people are affected by illness, They have no bank account. They are waiting in queue for changing money. Working man& women they lose their one-day work for changing money.

Demonetization is actually a great job according to me because I think it's high time black money holders have to be caught and also hence they must suffer holding such money with money and conducting all kind of wrong businesses. Of course, every problem has its own advantages and disadvantages. A lot of poor people would suffer due to this issue as most of them do not have proper education and so they do not know how this digital payments actually work so government has to ensure that every single person is well aware of how it would work and or else they would suffer and it would do no good for our country also another problem arises where a lot of hacking is going on in case of digital payments so a lot of people would loose money easily. So government has to ensure that such situation are being taken care of. Proper security must be provided. One must not deny this wonderful step taken by Modiji because he was bold enough to take it which the previous ministers though they had made it they had not properly implemented it. So lets respect his bravery for making such a bold step towards creating a better India.

Hi Good Evening,

First of all, it is good move to curb black money circulation, terror funding and so on. But as a common man just think that no black money holders will have cash in their hand 95% of black money holders will not have cash in their hand they will have either in swiss bank or as a land or property.

Though as per government record there has been a lot of black money has been caught and mainly fake notes from terror have been primarily stopped.

So ban of 500 and 1000rs notes are really a good to move to uproot some main things from our nation.

Hello everyone!

I will not say corruption uprooted completely but I will like to show some statistics. According to world bank, India has 280 lakh crore of tangible wealth out of which 25% is black money. So it comes out to be 70 lakh crore out of which only 10% is in the form of cash other is invested in gold, real estate etc. So total black cash is 7 lakh crore. Now let say they have converted 80% of this in white money still left with 1.4 lakh crore black cash that has no value. That's kind of a big deal, Isn't it? Moreover, due to this move, the black money holders got some fear that government can do something like that and that too so secretly. This fear is important. Banning note will also help in reducing counterfeit currency which is being created in India and neighbour countries and funding various terrorist groups. All the counterfeit currency is useless now and it will take the time to produce technology for new counterfeit money till then no attacks and all in India. So I think that it is a very bold and strong step by the government toward corruption.

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.

In my opinion, demonetization is the biggest leap towards the national development. Yes, the ban of 500 and 1000 Rs notes came as a shock to the Indian public, and yes, common man did face a lot of problems but we cannot ignore the fact that this decision also leads to the eradication of corruption to a very large extent if not fully. Nothing comes without a price, we had to pay the price of discomfort for a few days, but eventually good results have been seen. Now it is also true that people who are corrupted will always pave out a way for themselves, but because of this, keeping quiet and never accepting a change is not an alternative. I think a ban of currency was not a cloth changing game and even if it was, we still cannot overlook the benefits it did to the society and the corruption that it removed.

Well, I think situation is more or less is same, if you think deep, you can clearly see that corruption is still exists in many areas, although it was good attempt to resolve this big issue, I have to say the government is only succeed 50 % in his target, although you just can't simply blame government only, the roots of corruption are very deep, & be realistic guys, in any country if their government wish to solve any major issue than the public has to cooperate the government, only government alone can't do this, the simplest example is swacch Bharat abhiyan, if the people simply doesn't have self discipline to keep their places clean, then it is really tough for the people.

It is very easier to say that corruption is just changing clothes, but if you see the past data of fake currencies it has still improved a lot. Blaming a government is not a good idea. Think from govt point of view team of government is in hundreds and Indian population is $1. 3 billion.

Just imagine how to protect the economy.

All the thing are not in hands of govt, we also have to take initiatives to protect the economy.

And I think passing illegal tender against 500 and 1000 notes is a good initiative.

Eg. If a jug of water is filled up to the top then it must be empty again.

Then it will again be filled by someone, during this process, all those will be start caught who help to fill a jug.

Similarly, once all 500 and 1000 notes are demonetized during the process of printing more notes, many new faces will be caught to detect black money holders.

This pitcher was open but behind the curtains, good things are also happening which is not recognize by normal population such as: reduction in terror funding, Revenue of govt by more tax payers into the game.

Thank you.

Actually Banning of 500, 1000 rupees notes wasn't a good decision. Poor remained as poor and rich remained as rich it dint make a major difference it was just like changing clothes. There was even decrease in GDP ratio. As well middle class people faced lots of problems and 50% of corruption was stopped with this banning.