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

Hi all,

Ban of 500, 1000 notes have not uprooted corruption.

Just to draw a an old age pension 500,

For filling up of challan 50 rs has to be paid.

Corruption exists everywhere.

Ban of notes was just an extra overhead for common and middle-class people.

See there also after implying a restriction of certain limits of money can be exchanged.

Not even few black money holders were caught and punished.

With Direct commitment with bank heads or authorities, they happily exchanged currency and they were safe.

Idea or thought was appreciable.

But actual implementation was failed.

Try try until and unless you succeed.

May be the plan didn't support well.

Definitely, in future coming days with some more ideas corruption can be eradicated.

Thank you.

Hey.

According to my views PM Modi take a very powerfull step for our country but ban 500, 1000 note is not the proper solution of uprooted corruption because the black money holder people have adjusted their money anywhere and they again started to grow their money. Ban 500, 1000 notes effected a middle class person because their business is almost close for almost 2 months because their was no money in market. We all have heared news that some people left their black money on the road but I heared latest news that the money deposited in reserve bank is almost equal to new printed note that were withdraw by people but now the qns is where is the black money. According to me, this step was good but always a middle class families effected by these steps.

Yeah, demonitisation is really an important thing to discuss in India nowadays. It can be said good or bad for the economy based on the situation whwn it is done. 500, 1000 rupee notes carry 80% weightage of Indian currency, so without a long term planning if it is done then none but the stupids will support this. And if the issue is black money then I will say India is a country of 121 crore people, so there will be many ways to do the corruption, in India 70% rupees are in the account of 1% people, and after demonitisation, no such names are published so it is proved they found an alternate process to black the money, and governments also couldn't solve the issue till now, so from the government point of view, this is such a stupid thing for that time.

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.

But the middle class people and rural peoples suffered more they are waited in a queue line in a bank for changing money.

Finally, banning this denomination are not more effecting black money but it is a great step for controlling black money.

Finally, it increases cash less transaction due to less availability of money.

Hello, everyone.

I am Ajay Singh. On 8th Novembe government banned 500 and 1000 notes. This was greeted with positive as well as negative response. The Government, as well as people, were of the view that it will reduce corruption to a great extent but nothing sort of that happened. People with black money easily made their way through demonetisation and converted most of their black money into white money. Even many officials earned a lot during this process. According to me, the main sufferer was the common man. This step of the government didn't really help in curbing corrruption because we Indians always find a 'jugaad'. In my view, the government need to take more strict actions to curb corruption simply banning notes is not going to be helpful.

Hello.

In my point of view, demonetization is the use full think but the way it introduces is wrong. By introducing demonetization the black money will come out its right. But black money didn't come out whereas it converted into white money by a link directly with the banks. And the middle class are suffering a lot they even don't know about the demonetization people who know about it in middle class also suffering by standing in front of the banks to exchange the notes of 500, 1000. Demonetisation is for politicians and the big person so can easily convert their black money into white. So what I want to say is government should implement it in the correct way so that the black money will come out and the middle-class people will also be not suffer.

In my opinion, ban of 500 and 1000 notes is just changing clothes. If the government had taken proper measurement of having the new notes printed way before banning the old notes would be better. Due to this many people were affected and those people were none other than the middle class people. The main reason for the ban was forgotten. The riches are still rich, the poor are still poor. The government took action on only few people who were against this ban. The rest of the people with black money, still have the same money. For ex: Consider what happened with the introduction of free Jio sim, all he did was give it free and spend all his black money. But now we are paying him back 3 month once. So banning of the old notes is just change of clothes.

According to me, banning of 500/1000 notes was a good initiative but it didn't make a direct impact on corruption as people invented numerous ways to go through the situation and also govt fails to implement it properly. But I think it was a good move to extract hidden money from people. Because within few days much more money gets deposited in banks & there was a huge increase in payments of Property Tax to municipal corporations.

One of the best results is that, because of less/no available cash, people started using digital mode for making payments. Though at the start people suffered a lot, then they end up using new technologies for making payments. Digital Payments are important to make transactions transparent so as to reduce corruption.

Hi friends,

As we everyone knew that in this world everything has two sides good and bad. Demonetization was implemented on 8th November 2016 which created a boom in our country. Implementation of demonetisation was a good source or startup of reducing corruption. Although rural area people suffered a lots but for any startup of country development some or other has to face. Due to demonetisation there was huge shift towards electronic payment like paytm, bhim etc. This made the mode of transaction in easier way. Demonetisation also made corruption open eventhough it's not completely vanished but was a good step to reduce corruption. Finally, I would say for any startup to develop our country difficulties arises but that should be faced with unity.

It's not changing anything because govt wanted the banks to come up after they lost a lot of money in giving bad loans to ppl like vijay Mallya, Satyam computers and many others.

Just to bring banks reach a high demand they made ppl to go bank and deposit their money, that way banks will get a lot of shareholders due to their demand and also great revenue. Ex: Vijaya bank revenue (1st quarter) climbed 400% after demonatization.

And govt has not revealed any money which came from IT departments after so many raids.

The withdrawal limit is again removed from the bank, and influences ppl again to do business in cash.

What govt should have really done is withdrawal limit even if it 50, 000 and why didn't they do that? Because it's gonna affect them.