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

Demonetisation is an appreciable step taken by Indian government. Everyone wants a change but thing is how to make it happen. Biggest problem nowdays is with attitude of people, its 'chalta hai' attitude. Young people fed up with this, there is need to stop the corruption which actually spoil the young gen. Demonetisation is the only way to fight with this.

According to my opinion, the new notes of 2000 and 500 Rps prove to be beneficial to some extent. The only thing the government have done is by making the people stand in a Que in front of the banks and brought the entire money under a legal transaction. For a few months, the movement of fake currencies came to a standstill. But nowadays many fake currencies of 2000 Rps notes are seen. Some of the black money holders are in trouble, but the maximum no. Of corrupted people have their accounts in swiz bank hiding billions of dollars. Our government has to do something to bring all the money back to India.

November 8, 2016 was a nightmare to all of us after getting the information from the news channels of banning the 500 & 1000 notes.

It was a great step taken towards the anti-corruption to remove the black money from the country. But the impact on the 3 classes of society was different from each other. The 3 classes of society as defined mostly are low, middle & high. Talking about low-class society (people below poverty line) would not have much cash in 500 & 100 notes. But the little they had, it wouldn't be exchanged at banks as most of them do not have bank accounts. The next class of society is middle class. Keeping the huge amount of money with ourselves not necessarily means a black money. It could be due to many occasions which need it like marriage, house construction etc. During the demonetization period, these are the people who suffered. As a bank had defined amount limit on the exchange of money. The third category society the upper-middle-class & high-status society, who are suspected to have black money. The question arises here "Would they keep hard cash or will it be in some other form. This class not only consist of the businessman but all the politicians and other high authority holders. It's quite obvious that the decision of demonetization was not taken alone by the prime minister of India. It could be with a group of members which include politician and other bodies like a bank. They were aware of the step before it was applicable. Now, this could let us think that precaution measure have been taken by them for not being black money holder. It is important to focus on the denomination it's the ban of 500 & 1000. This is done to avoid the large amount transaction in cash, a step to avoid black money. But a new denomination of 2000 is introduced the very next week. It's quite contradictory the way steps are taken and the implementation of it.

However, it could be implemented in a better way by setting a limit on "earning & property and to track them down by income tax raid & not disturbing the whole nation. As a citizen, it's our duty to support & encourage such steps which could benefit our nation & the people.

Hi guys,

It was a bold step taken by our pm. It was not an overnight decision taken by them. All the politicians were aware of this before announcing, it has been affecting for the 3 class of people Low, middle and high. I don't know why being an Indian we are differing the ppl based on their money and level in our own country. Then it's not the matter to another nation to point out our country. Let's come to the point it's not the problem to only middle class and high class it's the problem to Every roof house to duplex because nowadays a beggar can gain a 100 rs note in a few hrs as like a business man so everyone has their own business. So nearly every member nowadays is having a 500rs and 1000 rs notes it's not the matter. Well, the main reason of this banning the notes are corruption and black money.

So, In my point of view, as we people as we heard about the decision of the pm we all went to our own plans what to do next and went for savings.

As like the corrupted people will also be in their own plans what they should do.

So what I want to say is yes it's the right decision taken but the implementation is not good.

Hello, friends. In my point of view, the ban on Rs 500 and 1000 notes are really good and bold initiative taken by our pm. It will reduce the circulation of black money in the market. There are some advantages of it like.

It has increased the deposit in banks now, the base rate will decrease and the people get a cheaper loan, as well as they, had to exchange from the bank so there will record of each account and transaction so by this way black money could easily found.

Many companies and businessman had caught by it department for the illegal money.

It has also reduced the terror funding.

Hence we can say it is a very effective step towards corruption taken by the government.

The decision taken by our honourable prime minister is good because we do not know how much black money is our country having through this demonetization we came to know about the people who are having black money. Modi Sir decision is very much true because an ordinary man should know where the money is going and on which basis.

The problem of corruption is not that simple to be curbed by merely scraping high denomination notes. But yes it address a chunk of corruption that result from easy transaction of large amount of sum. Government must have multidimensional. Measures planned both concerning finanacial and pshycological sentiment of people.

In India there are 5% of black money. Black Money is higher in USA than India. The government decision of demonetisation affected the common man more than rich. Foriegn investment reduced. Again there is no change in the corruption habit. Introduction of new 2000 note in the economy was very slow.

Hello everyone,

As per my views, this ban is just the waste of time & papers. We can say this is like just changing clothes because they issue new notes to control corruption but I feel we generate corruption because of this ban.

People started a new business like they are taking a commission to exchange notes.

I think this is the worst decision taken by our PM.

According to me, demonitisation had both merits and demerits.

Merits:

It reduced the corruption in our country.
It helped India to go cashless.
There were programs like Pradhan Mantri Garib Kalyan Yojana and Jan Dhan which helped the economically backwards societies. But just like a coin has two flip sides detoxification too had its demerits.

Those being.

First of all, the programme was not well planned.

There were huge lines in front of atm counters and many deaths due to the rush.

It is easier to keep unaccounted 2000rs cash since more money can be kept hiding.

People in rural areas were most affected since most people there have no access to atm cards.

Hence in my opinion detoxification had its own merits and demerits.