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

Hello everyone,

According to me, Although it was the great tool but just proved as the introduction of new notes on the place of old ones. The demonitisation didn't have drastic impact. Corruptionist had welcomed it with counterfiet & duplicate notes. We can't deny that its impact is nil, the corruptionist still have fear in mind, as per the facts 50-60 lacs new income tax return were filled this year & tax has been paid by the people whose income was taxable but they have not stopped themselves from doing something which is illegal. So we can say that 500-1000 notes didn't uprooted corruption completely, it stopped corruption for a while thats it.

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Banning of old 500, 1000 was a good step taken by the Indian government which in single word it is termed as" demonetization". Though it doesn't have created any great impact, it just a result into the changing from old notes to the new notes. According to RBI 99%of the old currency was being returned to the banks. After introduction new 500 and 2000 notes, the duplicate notes was also been introduced into the market which affects the Indian economy. Though the corruption was not vanished completely. Now the corrupt person asked for new notes to do our work. According to me, expect some thing the demonetization is not the great way to uproot the corruption.

Hello,

What I believe about demonetization, this policy had failed in India. Although it is a good step taken by Modi government but not in a planned manner. Corruption has not been cured neither came out in front of the Indian government. At the time of demonetization, People of India was exchanging notes at some exchange rates and manager of banks also caught by Indian government exchanging new currency notes with old currency at some exchange rate. This step back fires the Indian government what actually has decided and the result came out, both are opposite. According to me, it is a great step to fight against corruption but it should be planned before taking a decision.

The Word Demonetization is surfed in google by most of all to know the meaning. Hope later we all physically experienced the meaning of the same by out of cash at ATM queues. Predominantly It shakes our market share @ global market. Entire Nation was encouraged for such brave move by PM to avoid Black money & corruption. But the end result says 99% of Rs 500-1000 Notes collected by RBI reports. So where is the black Money? Now.

In India recently demonetization has taken place. I think demonetization is the good step taken by our prime minister narendra modi. Not all but most of the black money get collected by government. But the demonetization does not happen with all preparation. Banning of 500, 1000 notes not whole corruption uprooted but a little good action was this against corrupt people. It must have to be taken with all preparation that was not the case on this demonetization.

Hello.

Everyone good morning and all I admit for who was share the topic.

I also want to share my view on this topic.

Demonetization is the biggest step taken by respected Narendra Modi. According to respected Modi it was SURGICAL STRIKE on black money holder. We should know peoples who involve in corruption belongs to a rich background poor people are for away from corruption. During demonetization, banks gave priority to the rich people to deposit their cash and only poor people and small industry owner faced the problem.

Rich people used online transaction system during demonetization.

The Government can choose another way to eliminate corruption the way which strikes only to black money holder.

Thank you.

Demonetisation is being painted by some as a colourful picture of the future while by some as dark and gloomy picture of the past with lasting repurcussions. All in all, it's still a grey area, for it's confusing.

Demonetisation was carried out with an intend to get rid of the black cash in the economy. But the recent RBI reports show that 99% of the cash was deposited back into the banks. So what the government assumed of the money hoarders that they will throw away their hidden stacks of notes, didn't really happen.

Supporters of demonetisation claim that although the black money is back in the system, after demonetisation, the tax department now has the information of people who deposited large sums of money which may not be explained by their incomes. And hence, demonetisation opened a window for taking action against such people. But these consequences were declared by the govt at the time of introducing demonetisation and the money hoarders and tax evaders found new ways to get their money back into the system through some loopholes. Large sums of black money was split into smaller chunks and deposited in the banks using different accounts (mostly jan dhan accounts). Theses accounts holders were then paid some commision. Hence, paradoxically demonetisation created opportunities for more bribes and curruption to take place.

The intend behind this drive was laudable but it wasn't a thought out decision. It could still haven't garnered as much critiscism if it was managed properly at the time when ATMs were out of cash while the people queued up outside. Most of them where still smiling in appreciation of the govt's move but little did they know about how the pain wasn't all worth.

According to me, banning of 500 and 1000 rs notes has definitely reduced the amount of black money but the execution of the ban was not proper as a lot of people has rotated their money even after the ban. It created such a chaos in the country. According to forbes editor in chief this decision of banning of notes is a theft. Gdp of the country has also reduced from 2015 to 2016 year. Also, the money required to make the new currency also added to the loss.

Hello, everyone.

According to me, demonetization is not complete solution of corruption in India. Because there are my types of problem in India. Since maximum black money of the country is in the pocket of leaders and they are not much affected by demonetization. They are able to convert their black money to white easily.

But this is a good decision of government because due to this most of the people who do not want to show their money to the government, they show. And now they continuously pay their tax.

Many leaders have also taught a lesson that it is bad to hide money to the government because during demonetization they waste their money also is useless work. So this is a lesson to them.

Demonetization is very necessary for each country due to this a more benefit is that fake currency is removed from the market for few years.

And there will a fear in every mind for the demonetization due to which they make their property transparent to the government.

So this is not a complete solution for demonetization but it is also very necessary to remove corruption from any country.

Thanks.

Hello, all.

I would like to add some points regarding demonetization every one says to reduce black money and to make India corruption less is it really works in our country no! there are lots of black money in our political people but no one is arrested up to now why because they exchanged their money before the announcement of demonetization and they put their money in business and games. Up to now government get the old notes 98.29% and remaining money no. The Whole burden of demonetization was taken by common people they waited lot of queues in front of ATM's to exchange their money and what about the village people for their agriculture media telecast all about this but no political people and no cinema stars were stand to exchange the old notes So corruption was not uprooted it's just changed clothes!