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

I think its a good step for bring out black money.

Dear All,

Demonetization is a very bold and sharp move by Government. it might not get the result as everybody is expecting but it shows the concern of the government that they are very serious and strict against the Black Money.

But as per me demonetization was not a success full plan. Because it was unorganized by Government and those who has the power and approach at bank authorities, they are used the situation for their benefit.

At the time of demonetization the people have the access to the authorities started a new business they are exchanging old currency to new currency for Few percent. By this black money holder got the clear window and get rid of this Old note ban thing.

It doesn't affect them much.
Its not the bank
Its not the Government
Its not the big Business tycoons
Its not the Political party
Its us who need to understand and mend our way to eradicate the Corruption, if we understand our duty towards the Country and society than only we can think our country is moving towards the better direction.

Yes, Demonetisation is a good thing to happen. The reasons behind this are to make India corruption free country and also to make digital transactions more familiar to the public. Until now everything is fine. But, did it happen exactly as what they thought to happen? I don't think so. Only 5-8 % of the black money has been demolished. What about the black money which is in the form of lands, buildings, illegal activities. Even though banning of 500 and 1000 rs notes is a very good idea, I strongly say that implementation was not done appropriately. This will not happen only our Prime Minister is willing to do so, but this will only happen when each and every individual involved in this will act and operate without any scams eg. , bank employees, all politicians and many more people. At the end, it is the common man who was suffered a lot during that two-three month of the period. I personally, didn't see any politician, celebrity or any public figure standing in queues in front of banks and ATM's. Did you people? Don't say me they would have run their day-day activities through digital transactions which is NOT POSSIBLE! The worst part is, the very next day of 2000 rs into the market, many politicians have lakhs of money in the form of 2000 rs. How is that possible when the day limit to withdraw the money is 4000. It's possible only because of the banks, which got corrupted. I like to conclude saying that Demonetisation is really a good idea, but would have more impact if the implementation in a better way and also every personnel, involved in this should be genuine enough.

Hello, everyone.

Politics, politicians, nowadays, these two words are becoming for a name sake for getting popular people become politicians. Rather than that no political parties are genuine to remove the corruption. And it's the time to ban 500, 1000and step1 is done by Modi sir which is becoming a problem to the middle class people very much but at the ending, success will be a big thing to all the people by deleting corruption in the country. I think it's a very good thing for our country.

I think it's just changing clothes because you can't stop corruption by changing currencies on the different time period. You should ask an economist what effect will be on the GDP. The economy will be deprived, he will never support such type of decisions from government. The lesser the currency the better for the chance of growth.

Demonetization is very sharp step taken by the government but they fail to implement it, according to some of the statistics there is only 3-4% Black money is removed from the country but what about else and also during this movement middle class people suffered a lot but I want to say it is a good initiative towards our country.

Hello friends,

I think, to remove corruption we should start it from us, just like if you caught by traffic police then what is the first thing came to our mind is corruption, and we have no problem at that time, so remove this all types of habits, system will change automatically we are common people and we are ruler, just support anyone when he/she stands for truth provide him/her power for the victory of, common man. And as concerned to currency I didn't think it works in a right direction,

On 9th November, 16 government announced demonetization of 500, 1000 notes nd the reason given for this move was uprooting of corruption and wiping out of black money but in my opinion this ban was like just changing clothes because the black money in 500, 1000 currency notes constitute barely 1-2% of total black money in the country and those who were having undisclosed money deposited their money in different accounts under different names to evade tax so the sole purpose of fighting black money was defeated and 2000rs notes made it more convenient for people to store the money.

Hi, friends. A lot of conjectures are going on in this forum regarding.

The introduction of 2000 rupee note. It is true that now the higher value of the currency can be carried without much effort and 2000 rupee notes are more prone to become the victim of the parallel economy. But we have to understand the real scenario. GOI had completely banned 500 and 1000 rupee note and that is why about 75% of the total cash amount of Indian economy vanished. So to compensate this crisis Indian economists decided to stabilise the economy by the introduction of 2000 rupee note within a short span of time. The time is taken for the press to print a 100 rupee note and 2000 rupee note is same but by printing 2000 rupee note, it could pile up enough cash to stabilise the economy quickly, otherwise, it produces a negative impact on GDP and it could result in a severe economic crisis.

From my point of view, ban 500, 1000 rupees notes have just stopped corruption in the short run as at this phase people would make mistakes during conversion of their black money. However in the long run it is not beneficial (hypo example); if a person stores one crore rupees of black money of 1000 rupees notes.

Therefore after the ban of thousand rupees note of coming of one two thousand notes has given people more chance to store their black money in more higher quantities as the value of notes has risen and more value can be stored with physical possession of less quantities. Therefore, I agree with the statement that Ban 500, 1000 notes - Corruption Uprooted or just changing clothes.

Thank you.