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

Hi, I think in my view, demonetization mainly effect our common people of India because of due to issuing 2000 notes by our government without giving any pre-acknowledgement, they suffer from note changing problem and transaction problem whereas with richest people they only suffer from note exchanging problem b. Cos poor people does not have a lot of money, at the end, it was a very effective initiative taken by our Indian government.

Banning of 500 and 1000 is an idea towards the growth of economic of a Developing India. It's just not of banning the currencies but also, it gives the awareness to all of us about Digital payment process.

And the digital payment option misleads to at least few percentile of corruption.

I think it was a great action taken by Modi ji. Because a large amount of corrupted money is invested in bank that will definitely help for the further progress of our country.

Though it was tough for middle class people but if you want changes then you have to trouble. Just because of poor regime of previous government Country was on backfoot and on that time no one was blaming or protesting.

Atleast, this time government Is trying to change something then it is fine. Life is all about changes.

Govt should also band deposit with Swiss Banks and there should be proper agency to monitor FII and FDI as we know about Panama Papers. These kind of corruptions are real evil of Indian Economy.

On November 8 2016, Our hon'ble Prime Minister (PM) Shri Narendra Damodardas Modi Ji banned Rs500 and Rs1000 banknotes of Mahatma Gandhi series in order to reduce corruption.

This is nice step taken by him and his team. But it is not executed well. It has some advantages.

The advantages of Demonetization are:

It encourage the Indian citizens to use digital payments. Certain apps like paytm, freecharge, etc. Even the Government of India also launched his own app know as BHIM to encourage digital payments. The illiterate or backward people who did not know what is digital payments, they are start knowing about it. To futher enhance digital payments Government should reduce the charges or fee that is deducted in every transaction through app. The use of cheques should enhance. By using digital payments we have details about every transaction that we made. By using digital payments the Corruption will be reduce.

Due to Demonetization the Indian economic rise by 0. 6% as we campared our Gross Domestic Product (GDP) with year 2016. In 2016 our GDP is 7.0% and now it is 7.6%. This show that India Economy is increasing. After some years we are able to compete with other well develop countries. Due to this India rank in Global Economic is also increase.

Due to Demonetization 7 to 8% of black money is obtain by the Government. Because of this Corruption is little reduce.

But the execution of Demonetization is not so well.

At last I only conclude that Demonetization is a good idea. Because of this corruption is also reduce.

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.

In my view, demonetisation was a good move by our venerable PM Narendra Modi, as Indian econom and poor people in India was suffering highly due to corruption. This step taken by PM drived a considerale part of illegal money in bank deposits that will help in the growth of the money. Ofcourse the poor had to suffera lot. Obviously when a rigid structure changes sudenly, it will create certain problems tto many. But again, when you want a change to happen you have to go through a lil trouble. So, in my view Demonetisation was a good move, as doing something is better than doing nothing.

According to my point of view, the banning of these notes has two perspectives.

The best part is the growth of Indian economy which had achieved a GDP of 7.6% from 7% and removal of fake currencies in which big shots were involved.

The bad thing is about common people who are suffering from the effect of demonetisation which included bank terms.

But in a long run, this decision would make India grow economically more powerful.

Hello.

First of all I'll really like to congratulate Mr. Modi for taking such a move which could have cost him his post and the trust among the people.

Now coming to the point that whether it has helped in bringing back the black money. Suppose that you are wearing jeans daily from 60 years without washing it and suddenly you realise that, oh, I have to wash it. Now, do you think or even want that the jeans are cleaned in the very first wash itself? I think NO.

Now, so how can we expect from the move to clean all the black money. And black money is not only in cash, in fact, it is divided into several parts like gold, land properties, Swiss bank etc.

So, demonetization of just h first move to clean the dirt and in that sense, it has not disappointed me.

Now if we say that due to that many middle-class people faced problems. So I will say that yes in some regions the implementation was not that good. But common its our country, atleast we can bear some pain for its well being.

Thank You.

Demonetisation is a very good intiative taken by our honourable PM against corruption. As India is one of the corrupted country and the corruption is affecting the development of the economy after the demonetisation the countrys economic growth rate was increased and to further reduce corruption certain measures to be taken by the government.