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

According to my point of view, banning of 500,1000 of currency will not able to stop the corruption because as we all know that no sign of any corrupted person are found by applying banning strategy ,but many of capable or successful to exchange their money ,on the other hand big amount of currency can lead to increase the corruption because in place of 1000 they store 2000 means double black money, poor are not suppose to use 2000, change are not found in urgent time.

Thank you

According to me, banning 500, 1000 notes & introducing 2000/- note has increased corruption. Now, smaller bundle is required to give same amount of money. Besides this, Corruption at small level is also increased. People who were earlier satisfied with 500 or 1000/- note will now demand 2000/- note. Second thing people have more money in terms of assets as compared to liquid money. So nothing will change.

Hi friends,

In my point of view, while changing 1000 and 500 rupees notes is not a way to control the corruption. Most of the poor people will be affected. That's all, thank you for this opportunity.

Hello everyone,

The nation came to standstill when honourable Prime Minister of India announced that Rs. 500 and Rs. 1000 notes cease to be a legal tender.

The idea was really good but they failed in its execution. We can understand the effect it caused to the 3 classes- low, middle, upper.

Lower class people had affected the most due to demonetization. Most of them weren't really aware of the situation created. Even though schemes were launched ensuring people open their bank accounts, they weren't well trained regarding its usage.

Some of the middle-class people were affected as well, mostly who had a business which involved cash. Others had nothing to worry about unless they had black money hidden in their basements.

Upper class consists of most of the people with black money which includes politicians, businessmen. As our Ex-RBI Governor said 'People Will Find Ways To Divide Their Hoard', that is, people will find new ways to convert their black money into white.

Many people died during this process and I feel instead of demonetization, the government of India should've ensured strict taxation laws which would've saved the people of India from such chaos.

Hello everyone.

In my opinion, Mr. Narendra Modi sir took a right decision towards stopping the corruption.

The main initiative to ban 500-1000 notes is to stop the corruption. This worked 100's of crores of black money were taken. There was a huge impact of this.

This initiative also restricted the duplicate notes.

So in my opinion, it was a great decision.

Hello friends,

The sudden ban of 500 and 1000 rupees notes was like an avalanche for those whose pockets were stuffed with the black money. Yeah, when PM announced that 500 and 1000 notes are ceased to be a legal tender much middle class and lower class people were ready to face all kinds of problems happily as they just wanted the corrupt people to be ruined. But I don't think this step was that effective because these corrupt minds have far more powerful networks than that of PM's web. The scenario is still the same, only thing is the technique of corruption is changed. It's very difficult to uproot corruption from present India but still, we have confidence in our Respected PM.

At present, I personally feel that the ban of RS. 500 and RS. 1000 notes were unable in uprooting corruption it is just changing clothes.

Yes, Mr. Advay, I agree with what you have posted just now. To some extent, it has worked but this step was unable to bring out all the black money. People distributed their black money among their staff members or relatives and got their money exchanged from banks. Yeah, they had to pay so money to them as a commission but still, their pockets are stuffed with black money, the difference is previously it was in terms of Rs. 500 and Rs. 1000 notes and now it's in the form of Rs. 2000 notes.

This was the very good initiative taken by the central government. But unfortunately, the expected result couldn't achieve. The sudden ban of notes affected the lives of common people in numerous ways whereas people who had corrupt money they easily found their way out of the situation. I can quote an example from news bank employ exchanging old notes from the window. This could have positive effects with the correct implementation of administration system and law.

As per me, banning 500, 1000 notes and introducing big note of Rs. 2000 does not only answer to reduce corruption. The Government needs to think take a commendable role to stop this worst factor in India. Even we are responsible for this. We all have to take strong step to stop it. The Middle level of people is highly affected from this. Therefore this is the right time to move forward and needs to tighten all Govt, Pvt. Sector completely as well as people of India. Thank You Very Much.

Banning 500, 1000 notes are a good idea but rich people now their way how to exchange their money. But there are poor people suppose if they exchange 1 lakhs rupees the government will ask there explanation.

So here poor people will become poorer. But the idea is good.

Thank you.