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

In my point of view, banning 500, 1000 notes was a thoughtful decision taken by our honourable PM as it has helped in eradication of corruption from our country. All illegal money holders have to empty their pockets. Lot of black money came out. As India is a developing country demonetization has proven to be a great step for boosting India's economy. On the other hand it has a great impact on lower and middle class. Poor people faced various problems. Sometimes it seems like demonetization was to annoy common man. But this was very effective and thoughtful step for uplifting India's economic condition. So in my view, demonetization was one of the most important steps taken by PM and it has helped in uprooting corruption.

In my opinion, it was a good step but there was not proper preparation for the problems which were going to happen. Obviously, it made the illegal money of many people just waste papers but the people who have contact with politicians exchanged their money successfully and big wheels corruption ocean escaped successfully. Even bank workers made more corruption. That's why this step didn't succeed as of it should be.

For middle class and normal people, I would say it is No, Its not like just changing clothes but some how corruption can be reduced. Whenever our respectable prime minister Sri Narendra modi has announced that the central government is banning the 500 and 1000 rupee notes all Indian people were shocked and they were rushed to ATM centers but ATM's are already closed on that evening. People were struggled to wait in a long queue at ATM centers and at Banks by leaving their daily work but we didn't see any VIPs and big business magnates in a queue. So banning of 500 and 1000 rupee notes were mostly affected to middle class and poor people only.

Government wants to see "Cashless economy" but public have seen "Cashless ATMs" and instead of introducing small denomination notes government has introduced big note such as new 2000 rupee note. This makes some VIPs, to do more corruption such that instead of carrying more number of smaller denomination notes they are hiding less number of big notes. For those people it is just like changing clothes.

In my opinion, It was a great decision took by PM Modi. This time I must say that this turning point that came for the whole India will be a great benefit for everyone. After this decision, many things changed and as if now, the poverty line is also decreasing, and the motto is also fulfilling now that "All Are Equal".

In my point of view, demonetisation is a good initiative taken by our honourable PM. It is a good step taken by the government. It may uproot corruption. We must participate for its support. For any kind of revolution we have to face many problems but for some time. We must active for its participation in it. This step has given a shock to rich people who had black money. A lot of black money came out during this period. Therefore I would like to conclude that a minor portion has been uprooted by the ban of 500 and1000 notes.

Thank you.

From an economic point of view banning these 500 and 1000 notes are mere changing clothes. Theoretically there is little or no effect of demonetization on reducing corruption and curbing counterfeiting of notes, all demonetization does is, it reduces liquidity from the market and it induces people to use other cashless means of transactions but that is too in a short run, eventually people would hoard new currency notes and this would prove fruitless in the long run.

This demonetization has proved itself a failure with the economy being hit largely and employment affected especially in medium and small scale industries and.

Informal sectors where cash plays a vital role and business runny word of mouth.

I think this is a great initiative taken by our honourable PM. For those who are considering this decision a rapid one let us have a quick recap of 6-7 months prior of its implementation. Modiji took the campaign of linking all the accounts of every citizen with the respective Aadhar cards thus providing a window for the government to see clearly through the account of the common citizen. All the other plan such as pension yojna were steps for the implementation of this ban. Now talking about its impact, there were many reports of people caught with black money so wasn't it fruitful. Apart from it, there was a sense of fear in the heart of common people who were corrupt and which was necessary. It's also our duty to help a person who is working continuously working for our benefit to help him rather than criticising him.

Hello everyone! In my opinion, this is a bold and great move. Bold because our PM took the courage to put a country of one billion into hardships for the collective good of economy. And great because it was able to root out huge amount of black money in one go. Yes I agree that this one step only is not going to remove corruption from the life of a common Indian. But this is a step in the right direction. As to quote the Joker - "Desperate times need Desperate measures". And it is not an unknown fact how deeply corruption is embedded on Indian system. Also now we are seeing implementation of GST which is going to plug the leakages in tax system by a big way. If Demonization was the beginning, then GST is going to be the journey.

This is good for the reduce corruption but it was not proved good for the economy of our country. Only 5 to 10% black money in cash but major part is not in cash. And ban of this notes at that time we could show the effect only on the middle-class population. And our GDP also effected and it is 2% less than our estimate GDP. So if we will want to changing the clothes first find cashless or swid. Banks blackmoney.

In my point of view, ban 500, 1000 notes was a good decision. In nowadays the black money has in many investments like property and gold. But we no need to print 2000. If Our government print 500, 100, 50, enough.