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

Hello everyone.

Demonetization was a great initiative taken by PM Modi to stop corruption. But it's implementation was a big failure.

Mostly middle-class & the lower class family were affected by this. They have to stand in long queue to exchange their old notes with a new one. For rich people, it was just like changing clothes they have great influence on bank managers and these bank manager exchange their money.

Also, there was a shortage of 500, 1000 notes in the bank and atm machines so even when middle or lower class people go there they don't get money. They suffered the most.

It also reduces India's GDP to 6.3%.

In my opinion, I find it to be the changing of clothes and switching to much better ones. What I mean by that is, it was a step taken by the Government to increase in the corruption. According to an authentic source, the amount of money (notes) in circulation is much more as of now than that before demonetization. I personally don't believe in a Democratic form of Government There are many reasons for this belief which has rational grounds and reasoning attached. When you believe that this universe has a Creator, then you should ascertain and implement the guidelines given by Him to rule the world for it to be a better place.

Demonization in my view is the Great move by the Modi government because for a country like India which is in its developing phase. Corruption plays a role of a bottleneck in it so by banning large currency notes of 500 and 1000.

It's a great effort by the government to slow down parallel economy, Balck money misuse for terror funding and corruption though doing this will help gov to make India free of Balck money completely it requires more efforts like this and I hope that day is not very far when India will compete developed countries because of such great move which is short term is pain but in long term is beneficial.

As we saw the latest news after all calculation Ban on old 500 1000 notes is just all publicity stunt of BJP GOV.

So that they can say to their people that they tried to collect that black money but they didn't get succeed.

But the bulk of black money which is in the swiz back no BJP person talks about it.

If they capable they should ask for swiz bank tell them all the account holders that are from Indian.

Mostly they're all politicians which hide their money so nobody can point them out.

So that's it from my point of view 500 1000 ban is a blunder of our gov.

Our GDP growth goes down and 150 people lose their life's.

According to me, Demonization is, just a threat that the government has took, but in the reality it says that, 98% of the currency has came back to the RBI, so the demonetization is successful. But the flip side of this statement is, Does only 2% of the money was Black? No, The cheaters have, unique ways of investment in property and all. So, they are on the shore of safety. So, moreover, the effects of demonetization is short-run exactly. But it outweighs the effects of long run. Soo, a monetary economist says that banning a currency which is more than 70% in circulation is not feasible for a developing country like India.

Hello everyone.

In my point of view, banning of 500, 1000 rupees is just changing clothes because it doesn't bring any major change in the society. Currency notes have been banned in order to uproot corruption in our country but actual scenario is rich gets even more richer and poor gets even poorer. This had made a drastic impact and affects mainly normal people of the country. Though banning is to uproot the black money holders but here normal people strives to lead their daily life.

It is to be noted that corruption is not done only through money. But also by assets so here demonetisation doesn't work well.

Thank you.

Of course, Corruption isn't uprooted. Let us remember.

"Corruption is a mindset".

By Demonetisation, surely it has created a sense of terror in minds of tax evaders and also has advantaged the government with bringing back the reserves of uncirculated cash.

But the corruption will find its way, one way or the other way. Corruption cannot be uprooted but can be demotivated by taking such harsh steps time to time. Stronger punishments can surely demotivate it further. So let us take an initiative in our own lives, not to promote bribes or corruption in any way. Let's play our part in being the righteous citizens of India.

I think demonetization is very good idea of Indian Government Because due to this digital payment become popular and it is necessary for each country. But ban of 500 and 1000 notes has not gotten 100% success to remove.

Black money because many rich person distribute their money to their worker as their salary as well as many bought diesel and patrol etc. As everyone felt that during demonetization only general people face lots of problem and stands for hours in line before atm but rich have direct contact with bank officers so they directly got their money from bank. So this idea couldn't show it's effectiveness so much.

Banning of notes is great step towards uprooting corruption, but I thought this step is able to uproot corruption in very small extent. Main effect of demonetization which I'm seeing is the removal of fake notes from the our country as well as foreign countries also. Circulation of fake notes always weakens the economy.

As particular point of view regarding corruption I think my answer more favor in just changing clothes,

But if we talk about all the matter which is belong to demonetization i.e. fake currency, black money, economy strength etc. Then we can say that it is a Master stroke of our government.

Thank you!

According to me, the decision of demonetisation was the boldest decision by our PM in a country like ours, which works on almost 95% cash transactions. The idea behind it can't be questioned at all, as the pros were clear. Though some bank officials created cons which went against the move, but this planted a fear in minds of the fraudulent people that their deeds aren't safe enough. The move also made the use of plastic money and online transactions more than before 8th of November. Corruption will not stop with it, but black money will definitely be covered.

Therefore, I'll fully support the idea of demonetisation.