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

Hey.

According to my views PM Modi take a very powerfull step for our country but ban 500, 1000 note is not the proper solution of uprooted corruption because the black money holder people have adjusted their money anywhere and they again started to grow their money. Ban 500, 1000 notes effected a middle class person because their business is almost close for almost 2 months because their was no money in market. We all have heared news that some people left their black money on the road but I heared latest news that the money deposited in reserve bank is almost equal to new printed note that were withdraw by people but now the qns is where is the black money. According to me, this step was good but always a middle class families effected by these steps.

BENEFIT OF 500 & 1000 NOTES BANNED.

Large loss of Black money:- This conclusion is a pain in the ass for black money owners having vehicles of cash undeclared and experiencing without spending any tax. More and more businesses will be sorted those who accept paper money only such as small jewelers, hotels etc.

End of Fake currency racket:- If applied properly and successfully then it will outcome in end of fake currency noise as most of the fake racket is of Rs500 and Rs1000 but later scammers will create fake Rs2000 observe.

The Hurdle for terrorism:- As said by PM Modi "From across the border, our enemies operating racket in India through bogus currency, We all know he was referring to Pakistand and Chinese suppliers so this choice will put an obstacle in their direction. Funding for arms, smuggling, terrorism will take a blow. This is a most important advantage to the country.

DRAWBACK ALSO THERE.

Inconvenience to people:- load in trading notices to the comman individuals.

Elimination to common Individuals:- lots of Indian have a fake currency that it accidental or earned by effort and they are using it without knowing it. Now banks will refuse to take a fake money it direct loss for innocent people.

Lack of Tax Payers Cash:- Rs 500 printing expenses Rs 2.5 and Rs. 1000 expenses Rs 3, (approx). Multiply it by the number of 500 and 1000 notes present in India; now govt has to pay these funds from tax payers.

No Exactly!

Actually, the law makers had a great vision of uprooting the corruption and black money but the banks turned out to be the real assholes. As they really started contaminating the purifier chain that established during the entire process of banning notes. Banks started prioritizing people and gave paths to the corrupts to escape easily. They really ruined the complete process. If they would not have done that the scenario would have been completely different.

It was one of the bold decision taken by the government. As the new printed 2000 notes directly reached to politicians, it is shown that not fully focused to root out the corruption from India.

Before implementation of any rare decision, precaution steps must be taken. Improper implementation killed around 100 poor people.

This type step will never vanish the corruption from some government employees and politicians mind.

HI my friends.

Ban of 500-1000 rupees is correct for the society.

But some people will suffer in this time and now will suffering.

But time is running and the value of money is growing.

Everything will also change why not currency change.

If currency change the Government receives some Tax which is benefited for us.

In my point of view, it is correct.

Hi all,

Ban of 500, 1000 notes have not uprooted corruption.

Just to draw a an old age pension 500,

For filling up of challan 50 rs has to be paid.

Corruption exists everywhere.

Ban of notes was just an extra overhead for common and middle-class people.

See there also after implying a restriction of certain limits of money can be exchanged.

Not even few black money holders were caught and punished.

With Direct commitment with bank heads or authorities, they happily exchanged currency and they were safe.

Idea or thought was appreciable.

But actual implementation was failed.

Try try until and unless you succeed.

May be the plan didn't support well.

Definitely, in future coming days with some more ideas corruption can be eradicated.

Thank you.

A great initiative was taken on 8th Nov by the INDIAN govt with the aim of uprooting corruption. But I think it was unable to achieve its target. Because by some or the other ways people managed to exchange their old currency to new currency. Very few were arrested while exchanging. Basically the middle class and the poor were the sufferers. Many workers lost there jobs others were not having money to buy the raw materials. Still the RBI has not been able to disclose the amount that they received as old currency neither the government Has been able to state the merits of demonitisation. They only stated that it will be beneficial in long run. Only positive impact is that now officers fear while taking bribe and keeping black money.

Hi friends.

On 8th Nov 2016, the NDA govt banned the 500 and 1000 rupee notes. It was a huge shock for the people's of India. The perspective of the govt to ban the currency notes were to uproot corruption, reduce counterfeit notes, reduce terrorist funding and also to bring digital payment solution in India. The motive of the govt was good but at the initial days the common man had to face huge pain and hardships and also the actual cause of uprooting corruption were not successful. The corrupted people i.e. the politicians did not face any problem, they converted their black money to white money very easily and none of them came to limelight and no other strict action was also taken against them. Apart from that in the initial days to some extent corruption was removed but it is again generating due to the introduction of new currency notes. And corruption will prevail throughout as it is in the blood of each and every Politician. So banning 500 and 1000 notes is like changing clothes but again wearing the same clothes.

Hi everyone,

According to me, the decision taken by our government is somehow beneficial in eradicating corruption to some extent. Not entire, but some of the black money is retrieved and the corrupt people had to suffer a lot during that phase of demonetization. But the negative side of the demonetization was that middle class and lower class people suffered a lot as it was an inconvenience for them to stand in the queue and exchange the money from the bank. People took the leave or manage their timings from their job in order to exchange money.

Hello everyone,

Ban of 500 and 1000 notes was a good move against corruption but it did not uproot the corruption completely. And I am saying this based on the fact that we all know that politicians are the most corrupt people in our country. But not a single politician faced any problem at the time of demonetization. Only common people faced a problem and yeah some corrupt common people. So, it is safe to say that ban of 500 and 1000 only eliminated 20% of corruption but not completely.