Ban 500, 1000 notes - Corruption Uprooted or just changing 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 know corruption is a chronic disease in India. So it's best act was taken by Modi. According to my point of view, in many places change have been seen but according to RBI: 99% circulating money get back and 1% does not get back due to sinners in our country got success in converting black money to white money. As a result gradually decreased in economy. But its good news that according to RBI, the government got success in reducing 12 % corruption. So its better way to do stepwise action and in a country like India its very heart touching movement that in 1-night government change currency and as we know behind every unsuccessful thing there is a success. So it's not uproot of corruption. But it will be after some year.

Demonetisation is not a way of stopping corruption as people have other ways to invest their black money. Instead the law system of India need to be corrected for which people will be highly punished for their corruption and the law providing system should be made fast.

Being in a country where corruption always rules the nation. Demonization doesn't have any effect on corruption. The most affected are middle class and people under below poverty line. We Indians majorly have liquid cash at home. If I save a 1000rs note can't I save a 2000rs note which has bigger and better value in the market. Corruption was just changing its clothes.

The banning of 500, 1000 notes have a very little affect, because it contributes a little to the economy. The lots of money, people have remained closed. It does not expose a big one. People with lots of money mainly invests in shares, land, gold. So it's a first drawback of banning it. Secondly, middle-class people and rural people were mostly suffered, as they go lining up in long rows for days to change their money and sometimes they find it so difficult to row in hot weather. Lots of burden to every bank and employees were working overtime. People who want to debit money from ATM rarely found it. Thirdly, the economy is affected by as it goes down from the previous year. The industrial business goes down, the companies market is also down. Unemployment goes high. People were rushed off from companies. But somehow the P.M.Got to know about the liquidity in the market and it is expected in coming years the next target will be land and gold. So before taking such a step which can create a major disruption, the think tank strategy should be used.

Thankyou.

Hi friends, the decision of banning 500 and 1000 notes is a good decision. But still, there is a corruption in our country again the government should take severe action against the corruption taking place in India. But by the Demonetization poor people and the middle class had suffered a lot. So if there is any idea for the government to fight against the corruption again they should take steps which should not affect the poor people. However, by the process of demonetization corruption get decreased.

From my point of view, Corruption is Increased due to the demonetisation because all the black money is changed into new currency. During demonitisation corruption is increased people give money to change there black money to white money and lot of bank employees are involved in corruption and legal action are taken on some of the employee which are proved to be corrupted. Lot of money are spend in the demonitisation process around 1600cr are spend on printing of new notes.

This is the biggest scam in independent India. This is just for the business men's. According to RBI report 99 percrnt notes returned to the bank and RBI has a loss of 6000 crores. This is affecting GDP and it will affect in future too. Poor people will get nothing. Only few people will get profit who are the members of saffron party.

I think in most of the place many changes have been seen but people who have black money they again started collecting black money of new notes. And it will again happen that rich is going to be more rich and poor will going to be poorer. And the economy will get gradually decrease.

Hello friends,

It's obvious that since government is doing something to get rid of black money will always have the main motive to do in favour of common people but doing things unstrategically doesn't makes sense, they thought that if they would successfully implement demonetization they can get rid of things like black money, corruption up to some extent, good economy etc etc but it didn't happen, applying such a large change in a country like India in one night and where peoples don't keep their money in banks would be possible.

The thing is there no fault of government neither the common people the fault is made by private firms like Axis bank who didn't follow the norms of demonetization and till end allowed the people's to exchange money, due to which the exact sinner didn't get caught and all gone wrong.

My opinion would be that government is doing things for the good of common people's but there are external entities too who don't want this to happen as they are the sinner, so government should do it with the right and the strict strategic planning so that it's aim should be fulfilled.