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

The aim of demonetization was to drag out all the black money reserves maintained by rich class. And this decision showed positive results to a great extend. This proved to be a powerful step but not a great one. There are several reasons to it. First of all, our poor class suffered a lot. Exchanging their small cash savings by standing in queues and lack of new currency notes was a backfire. There were also few instances where rich uses poor for exchange of money by offering a small amount of commission. Last but not the least, our people are in habit of making black money deposits and this has continued even after demonetization.

I do want to support demonetization on regular basis but pre-steps should be taken for our poor class so that other may not get benefit out of it.

Hello, everyone.

In my opinion, our PM had taken a very important step towards uprooting corruption but as you know India is a very large country and it is not easy to get away such problems by taking one decision. It is just a starting step which is very useful & I really appreciate that atleast someone gave their thoughts towards this direction & now on we also have the responsibilities to uprooting corruption in our country. Citizens have to be alert that "neither to offer bribe anyone nor to receive Money under the table" & if you see some kind of activity in any government organisationor anywhere nearby you, please inform the respective head of that department or police about that. This is the best way to throw out this disease from our society,

Thank you.

Corruption has its root deep. But after the cancellation of 500 and 1000 notes the rate of corruption has somewhat decreased. One evident example is that after this ban approximately 1.5 lakh new accounts in SBI as weel as 1.2 lakh new accounts in PNB has been opened. And several money holders have invested heavily in automobile etc. The goal of the government is clear that whatever money is being circulated in the market that money should be in record books of government. So the more the accounts more the cleaner will be the flow of money. And prior to this ban, approximately 36000000 crores of notes of 500 and 1000 were missing from RBI's record book. So the value of that money is nullified as well.

So this move is not a panacea but it has checked the rate of corruption.

Hello,

The new denominations as introduced by government of India can not UPROOT corruption but it will act as one of the measures of decreasing corruption for a certain period of time because.

I- We clearly observed from the discrepancies and inconveniences the move of demonetization was not well planned and under executed.

Ii- As we are here 3 months after demonetization most of Indians who are digitally illiterate still prefer paying in cash and so are they who don't want to pay their tax properly. Those who know how to pay cashless transactions are compelled to pay in cash by former people.

Iii- As long as there exists 2000 rupee note paying a large amount of cash in notes is more feasible which leads to more illegal money accumulation in the vault of any corrupt.

Banned of 500 and 1000rs of Domenetization is a wise step taken by prime minister Modi on Nov 8 2016. In my point of view, it's not effectively executed main aim of this scheme was reducing corruption but it won't happen 5-6% black money has been obtained.

Lower level people has been affected based on his daily wages and middle-class people has affected by saving for his future implement such home construction, marriage and so on, high-level people such as politics, businessman few of them affected remaining change his black money based on investing on gold or diamond few politician member deposit in bank before itself because they are several group member with prime minister taken the decision.

It's only primitive level taken by the prime minister in my point of view.

Hi all my dear friends,

As per My point View, our prime minister sir took good decision to overcome the block money, terrorism due to this Nov8 after all middle-class people sleep well like every day But the richest people who had a lot of block money they did not sleep well after demonitization, I thought all well know about the corruptionist leaders are change their money through Bank manager supports, so here Bank manager are corrupted. So developing the country Not possible by One person, It will depend on the all people who are living in this country. Modiji sir decision is so good but bank managers supports to corrupted persons the scheme did not work well. As Other Side The Middle-Class People Face A lot Of Problems to change their money and getting their wages.

The corruption is sort of impossible to be uprooted, my economics faculty has told us that'' a little corruption is necessary to make the economy run. Firstly, I could not understand what he's trying to say but later on, I got something from his words. We can only try to smooth the corruption level and that's what Modi led govt did.

The step of discontinuing 500 and 1000 rupee notes was just taking some sort of corruption out of the economy and let everybody aware that this govt won't allow the bureaucrats or the so-called industrialist to do simply what they want. Earlier these people were leading and making us follow them which is certainly not applicable.

Why we are debating on 500 and 1000 rupee notes. It's the long-term effort and we should think on those levels.

Few month back government had decided to ban existing 500 and 1000 rupees notes. In my point of it serves different purposes like,

1. In India Tax evasion is a common thing, people deposit cash to not to give tax. Now it will bring all those money into an economy system and the government will collect a suitable tax. Son ultimately it is going to strengthen the economy.

2. Fake currency had become a headache for the government, now the government has changed a lot of feature of its existing currency which is impossible to copy.

3. Terrorist organisation were using old 500 and 1000 rupees notes against our country for their mission in our country. Now this move will rein on their mission.

And it has also benefited from pushing toward digital India and much more.

Hello friends.

According to me, the demonstration is a good step against black money. But like a coin, everything has positive and negative aspects. The positive aspect is that the peoples from rural areas came to known that what is banking and how it works and came to know that our country is going to be the change we have to change with them.

Atleast they come to known what is going in our country. And the negative aspect is that this demonstration didn't affect too much on rich people. Because rich people have their direct contact with bank officials they changed their currency. But the real problems were faced by normal peoples. Beacuse during demonostration period people had spent houres and houres by standing in que for changing their currency.

Thank you.

In my point of view, it's a very good decision taken by our prime minister Modi Ji that all 500 and 1000 rs are banned. It's a good initiative against black money holders and corruption but the only one thing is missed by Modi Ji that he immediately got an idea of demonetization and then immediately announced that all 500 and 1000rs note are banned without thinking about that so many good people or Normal people have to face so many problems because of this decision but I think that's fine, India is our country not only P. M country so why only he suffered or he think for betterment of our country it's also our responsibility and if by facing some problems for a few time we get a better life for a life long time so it's not a bad decision to face few problems :-).