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

Hi. I think that Demonetization is a bold move by the government. Its result will be seen in the long run. Almost 85% of the money was in the form of 500 and 1000 rupees notes. Scrapping these notes will eventually result in scrapping the black money in the form of currency. But, most of the black economy is in the form of different assets like gold. I think this is just a small steps and an appreciable one. But in an economy like India, major decisions like these are to be taken in future to ensure the uprooting of corruption.

Hi friends, in my point of view the demonetization is the best way to eradicate black money but the sad thing is the poor people and the small business were highly affected, hope it will come to normal soon. Thank you for the wonderful opportunity.

Hello,

Recently India has banned 500/1000 rupees notes W.E.F. 9th Nov 2016. This step taken is known as.

Demonetisation. Demonetisation is act of stripping of currency units and its legal tender.

Although the step taken was considered bold, as it affected the common people. But due to lack of.

Planning and execution the situation get worsen.

The reason behind the ban of currency notes can be.

I) eradicating counterfeit currency.
II) eliminating black money.
III) moving towards the cashless economy.
Iv) fight against corruption.

However, it turned out to be.

I) Reducing money flow, hence created panic among people (500/1000 has 86% of country economy).
II) Lack of planning which causes further suffering among small scale business.
III) Negative impression among some people.

Due to the above consideration, it can be said that people of India are not ready for such steps or.

Rather these steps should be properly planned before execution.

As far as eradication of corruption is considered, the step somehow manages to remove black money.

And counterfeit currency but only reduced the corruption to the certain extent. Because corruption is.

In the minds of people and it can not be removed easily. However, it causes an alarm among corrupt.

People that government can take further actions as this was.

So it can be concluded that the ban of 500/1000 rupees notes caused certain panic among common.

People but the intentions of government are clear. Also by taking the step the government reduced (not removed) corruption and if these type of steps are not taken regularly this will turn out to.

Be a step which will be considered same as changing clothes.

Yes, everyone knows that after banning of 500-1000 RS notes limited amount of money can be kept within us. Also most of the black money caught had turned into ash for those who stored it for future purpose. In India, people are just thinking to earn more and more money but not how money should be utilized for social purposes. They don't understand that money is not everything. Living a peaceful life full of basic amenities so that we don't have to beg Infront of anyone. And the fault is not totally theirs but in our society, we are never taught to become a helping hand. We are just taught to become a golden egg. EG Sometimes it happens that we don't have to follow the rules and regulations and we don't act accordingly to government and Constitution. We are standing many times in a long que for filling forms for license, identity cards. Taking that into consideration, there would be some places where we have to stand in hot sun and also it is necessary because without such important docs we don't bear social identity. What will one do?

Stand for two hours in hot sun or give money to agents and get the work done swiftly. Think by yourself because upto some extent man can leave comfort but not time. So topic was banning of notes but what affect it did was anti-corruption upto some extent. Corruption is not an evil which can be removed such easily but taking step is mandatory. Because from now atleast upto some extent corruption is uprooted. But scarcity of things causes corruption. There is saying in Hindi that " Kuch nahi se Kuch Sahi". Whatever our prime minister has done absolutely requires planning and dedication so just take a right step. It will make difficulties for a while but as the time goes on it could be handled in a proper way. So, yes corruption is starting to uproot but we don't have to sit at home Infront of TV and pass comments on how government and public servants should do but also take a right step from our side which will contribute to our economy to develop speedily. And changing clothes can't change qualities of person wearing it but here demonetisation had changed qualities of our economy and given chance for it to develop. Hence conclusion comes at end that yes banning has played important role as anti-corruption agent.

I was listening to a debate once. The member of opposition said that out of all the Black Money that exists in India, only 4% of it is in cash. The rest of it is in gold, property and in foreign banks.

After the noteban out of the total 15 lac crore in 500-1000 notes that existed atleast 30% of that was considered to be black money which was amounted to be 4 lac crore. After the end of the 50 day period, almost 14 lac crore rupees were recovered by the government.

This clearly states that a large amount of money expected to be recovered as black money was deposited as white money. Hence the money was laundered by the black money holders.

Hence I would say that corruption isn't uprooted but it is just changing clothes.

Good evening friends,

As much as I consider about demonitization so it's just changing clothes because after its being implemented only common people are struggling, but those have piles of money they have exchanged their money with the help of corrupt bank employees.

And ban 1000 and 500 Rs note and issue 2000 rs note it will increase the greediness of many corrupt people to stock this note.

After its implementation many fake note rackets busted so many people in own country don't know which 2000 rs note is fake and which note is real.

And also those already rich from corrupt money they have invested their money in purchasing assets in form of buildings, place etc.

Now many corrupt people also use bitcoin to hide their income and under the bitcoin government also cannot find the total money of them.

Yes, demonitization process is good for any country also for India because ban 1000 and 500 rs note definitely decrease the corruption but before implement, this decision government needed to do so much preparation.

Ban of 500 & 1000 rupee notes is appreciable up to some extent, but at the same time, it also becomes monumental disaster for the middle-class & poor people. It really affects their life, rich people easily converted their black money into white with the help of many brokers, officers of bank. It will not help in stopping corruption. After the banned of 500, 1000 rupee note, 90% of the currency would return to RBI. , this shows that government should take strong step toward corruption and mainly audit the account of the people those who have account in swiss bank.

Hi friends, my name is Bhumya and I would like to add one point here that demonetization is changing clothes for rich peoples, ministers and other big shots but its really a great decision to control the middle level of corruption in India which includes small players of economy but again poor peoples are affecting much for equalization so it's good decision but not a sufficient step.

Hi according to my of point of view, every Changement have advantage and disadvantage we all know in India a lot of black money to convert to is black money into white money government take that decision. According to my point of view that decision is good to remove the corruption from the India. But there is also a lot of problems is faced by all people to ban the notes. many people die to face a problem in a bank line.

Hi, According to me, demonization is a great step taken by our government And it definitely helps to uproot corruption from our country as the black money is not only that money which is earned by any illegal works but also that money which is not in knowledge of Indian govt or we can say not in the monetary circulation. Facts say that more than 80. Of Indian currency was in 1000 and 500 denomination and from them a lot of notes are out of monetary circulation from a long time. Hi By this banning of notes, not only corrupted people tracked down easily but also it leads to a huge amount of money in the circulation which will go to reduce the effect of inflation in our country. Secondly, it also effects the funding of terrorism and other illegal activities. It may not the only step to uproot corruption but definitely, it is a very strong one.