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

Hey everyone.

This is Jitender, Acc to my point of view ban 500, 1000 rs was a good decision taken by our govt but not implemented in such a way. Because it was create a lot of problems for poor peoples, small vendors, middle peoples who daily suffers a lot for their survival, and fulfills their essential needs. As Modi govt banned 500, 1000 rs notes it was cause a lot of problems standing people in a queue for long hours, as their turn comes bank employee said that there is no more money, many families had pulled out their daughter marriages, some peoples cannot take medical help, some can't buy necessary items, foods This all problems came from demonetisation. During Demonetisation only middle families, poor people suffered a lot, rich peoples have a connection with bank managers who can easily exchange their money without standing in a queue The idea was good to eradicate corruption but not implemented in a very helpful manner. Till now one year passed but no positive result come out. Its totally just like a changing clothes for rich people who can use their own power for changing money Due to all these only common people suffered a lot.

At last, I want to say that ban 500, 1000 rs was not just a rightful decision if you surely eradicate corruption from our country, firstly made plans and ready to tackle problems that come. Because mostly govt plans which have been launch only middle people suffered a lot.

Yes, I think demonetization was a great initiative taken by our Pm but it was not implemented the way it should have been. Its main aim was to curb the black money out of the pocket of rich people and break the parallel economy. It has helped to a great extent as news of currency being dumped into the river and being put on fire were heard. But I think the majority of rich people were able to convert their illegal wealth into white money through their links with the bank officials. Also depositing their money in the bank a/c's of the middle class and lower class people and giving them their part after demonetization helped them further.

One thing which could have been done better is maintaining a proper stock of new currency notes. As soon as the concept was implemented, banks and ATM'S went out of cash due to which people had to suffer a lot.

In our country, the problem is that everyone is of the opinion that our political and economic system is corrupt but when it comes to changing it but showing a little patience and support no one comes forward. Everyone was just complaining that they had to stand in question to get their money exchanged instead of showing some patience and feeling that they are contributing on their part to overcome corruption.

Hello everyone, in my opinion, I'd like to add up to this discussion that if we keep on thinking of "if's and but's" we can never proceed and progress is well. So it is true that the middle-class people suffered a lot in every aspect, but I think the rationale here has to be "plant a tree well before you need the fruits" which lacked and made a middle class to suffer which contributes to a major segment of our country. At last, I want to conclude that it's always better to be a part of change instead of merely thinking of it.

November 8, 2016 was a nightmare to all of us after getting the information from the news channels of banning the 500 & 1000 notes.

It was a great step taken towards the anti-corruption to remove the black money from the country. But the impact on the 3 classes of society was different from each other. The 3 classes of society as defined mostly are low, middle & high. Talking about low-class society (people below poverty line) would not have much cash in 500 & 100 notes. But the little they had, it wouldn't be exchanged at banks as most of them do not have bank accounts. The next class of society is middle class. Keeping the huge amount of money with ourselves not necessarily means a black money. It could be due to many occasions which need it like marriage, house construction etc. During the demonetization period, these are the people who suffered. As a bank had defined amount limit on the exchange of money. The third category society the upper-middle-class & high-status society, who are suspected to have black money. The question arises here "Would they keep hard cash or will it be in some other form. This class not only consist of the businessman but all the politicians and other high authority holders. It's quite obvious that the decision of demonetization was not taken alone by the prime minister of India. It could be with a group of members which include politician and other bodies like a bank. They were aware of the step before it was applicable. Now, this could let us think that precaution measure have been taken by them for not being black money holder. It is important to focus on the denomination it's the ban of 500 & 1000. This is done to avoid the large amount transaction in cash, a step to avoid black money. But a new denomination of 2000 is introduced the very next week. It's quite contradictory the way steps are taken and the implementation of it.

However, it could be implemented in a better way by setting a limit on "earning & property and to track them down by income tax raid & not disturbing the whole nation. As a citizen, it's our duty to support & encourage such steps which could benefit our nation & the people.

Hi, I am Ganesh Ralebhat.

According to me, As every coin has two sides likewise peoples also have different perspectives. If you are looking towards Indian economy if we compared our GDP with 2015 then you will come to know that there is the growth of 0.6 % previously it was 7.0% now it is 7.6%.

Through demonetisation, not all black get demolished but few part of it get demolished and this contribute a lot in the growth of the economy. In the drought of money government suggest us to use cashless transactions during demonetisation, this again improves the growth of the economy and reduce corruption. So, It is not just changing clothes it gives us a direction and some positive vibes about changing our nation towards developed nation.

Hi every one,

In my opinion, due to demonetization corruption is not uprooted instead it has increased. PM Narendra Modi brought this demonetization in to action to curb black money. There are many reasons that led demonetization to fail, 1st thing is normal and poor people are more effected than the rich ones.

Second thing is rich people got their notes changed by offering commission to mediators or through the direct source. Poor people got their money exchanged after hours and days of waiting at the bank gates where as rich got it just by sitting in their ac rooms.

And moreover government has not given the proper picture of the amount that has been caught in this process. And the way that they've spent it. Coming to the main point how did the political leaders got their money changed? and amount that they've changed? no 1 had any idea about this. I conclude it by stating that the demonetization is just a drama to gain fame and to attract people.

I would like to say that banning 500, 1000 notes does not mean that corruption has been uprooted. It just means that the massive amount of money that was hidden earlier has just become unusable. The mentality of using corrupt means still remains. Thus it has just changed clothes. But that doesnt mean that this step by the government has been in vain. This step has ensured in some way that people will be apprehensive from now on before engaging in corruption practices.

Hi friends.

I am DIKSHA Jain.

I would like to say that demonetization is a major step toward curbing the problems of black money. But it doesn't bring the black money to India. Have you seen any high-class person in your surroundings in the bank line for exchanging the money? Moreover, issuance of 2000 currency notes made it easy for them to gather more money as black money and made it difficult for a middle class to meet his both end meet. And the time period for exchanging was also too low. And it proves more crises for those family who were conducted the marriage of their children.

I would like to raise few points regarding this:-

1) How much black money is eradicated? only 12%! Rest of it is still in the form of gold, private properties and SWISS bank account. Just for this, you had shaken the whole Indian economy, affected living of middle class and poor.

2) GDP had declined from 7.6 to 7.1% after the announcement of this act.

3) What is the surety that with new notes of 500 and 2000, no hoarding can be possible? Notes are same, just the presentation that makes them different.

4) Not for the first time, demonetisation occurred in India, in 1946 (ban of 500, 1000, 10000) and 1978 (ban of 1000, 5000, 10000), and till now corruption had increased rapidly.

5) Statement of our former finance minister " If 86% of currency is immobilized, then the economy can function".

So I think demonetisation will not prove so much fruitful as we Indians are expecting.

In my opinion, demonetization is the best thing which is done by Narendra Modi, By this, we cannot say that corruption is totally removed but can be reduced to a great extent. As we know that a coin has two sides, in the same way, demonetization has both advantages and disadvantages. By this corruption rate is reduced, a lot of black money will come out, that black money can be used in different fields like farming so that suicides will be reduced.

Narendra Modi wants to develop India as a "digital India", by this demonetization usage of apps like Paytm, Freecharge, will be increased. This means India will become as digital India to some extent.

Coming to disadvantages we must wait in queue for a long time at ATM's and village people don't know how to use this online transaction.

But we people wait for long time to take Jio sims but why can't we wait at ATM's for money? this is the question I want to ask.

Finally, my view is we must support to the government and we are educated so, we have to provide awareness to the people by conducting campaigns. He is the only one who tried to reduce the corruption. So, let him do and support him for the development of India.