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

Welcome 70th celebration of INDIA Independence.

Demonetization is an assault on corrupt people. Corruption is biggest obstacle for eradication of poverty in nation. To overcome this evil, our honourable prime minister Modi take up concept of scrap 500, 1000 rupee notes.

It is a sudden move, not-well-thought-out. This move can't be welcomed & rejected. We are compelled to accept it. It was not proposed by Arun jaitley or any minster of modi government.

Anil Bokil a Chartered Accountant in pune suggested 5 aspects to modi on July 2016. Modi took 2 selective suggestions under implementation, due to missing of remaining aspects it created huge inconvenience to citizens.

Theme: Black money holders have only two ways they can either give an account of money earned in illegal means or precious money becomes a worthless piece of paper.

To protect themselves all illicit money was spent by them in many ways.

Eg: Mukesh Ambani spent his illegal money in the form of providing service to the nation (Jio network).

Eg: Modi went to other countries in name of visit but it was happened actually to spend money as fast a possible.

In such a process Big gun people escaped from Constitution laws and these made common man effort able.

This game planned by big guns, they arranged into safe zones & it created more troubles to an ordinary man who not even performed any illegal acts they faced punishments from the government due to this cause they have been opposing to this proposal.

If truthfully black money holders are get caught its a best step in our nation.

Hello everyone, the notes ban of 500 and 1000 is defined as - corrupted peoples, ministers, common man, rich peoples, are affected we all know that but what is the point ATM money is that all matter. I saw people's they die from the first day. I remember that day of demonstrations I was in my village that there has only one bank 5000 of nearby people's have almost died. Sometimes I really felt sad it is not about people's it is about needed. I feel people's are too fool and always be like that our government fools everyone like they did for voting time man needs is necessary, I was respected the decision even this decision is good for me, I m not affected of this all. But it was ok I belong from Raipur Chhattisgarh and there are no more problems in bank ATM it was just for a month so let it be. But I was going to other states Maharashtra same people's I saw facing the problems of demonstrations I heard by an automaton he said that our government fools everyone for voting. I asked reasons he said after banning of notes 1000-2000 crore investing in wedding or marriage by minister, yes I was shocked because we know ministers are ministers rich peoples isn't face problems or investigation. Why there is no investigation after banning of investment. 2500 is limit for common man that is the difference between us man and a government. All ministers are corrupted. Isn't matter what you thinking the good going thing is changes. Hope so our prime minister is going good or doing good. * International response to this move is positive.

On November 8 2016, Our hon'ble Prime Minister (PM) Shri Narendra Damodardas Modi Ji banned Rs500 and Rs1000 banknotes of Mahatma Gandhi series in order to reduce corruption.

This is nice step taken by him and his team. But it is not executed well. It has some advantages.

The advantages of Demonetization are:

It encourage the Indian citizens to use digital payments. Certain apps like paytm, freecharge, etc. Even the Government of India also launched his own app know as BHIM to encourage digital payments. The illiterate or backward people who did not know what is digital payments, they are start knowing about it. To futher enhance digital payments Government should reduce the charges or fee that is deducted in every transaction through app. The use of cheques should enhance. By using digital payments we have details about every transaction that we made. By using digital payments the Corruption will be reduce.

Due to Demonetization the Indian economic rise by 0. 6% as we campared our Gross Domestic Product (GDP) with year 2016. In 2016 our GDP is 7.0% and now it is 7.6%. This show that India Economy is increasing. After some years we are able to compete with other well develop countries. Due to this India rank in Global Economic is also increase.

Due to Demonetization 7 to 8% of black money is obtain by the Government. Because of this Corruption is little reduce.

But the execution of Demonetization is not so well.

At last I only conclude that Demonetization is a good idea. Because of this corruption is also reduce.

Hello everyone.

There is always two sides of a coin. None of them can be ignored similarly, this plan has also pros and cons. The main aim of this is to prevent corruption, funding of terrorist, exposure of black money. We know very well that corruption can't be uprooted in one or two weeks. Our country is so much indulging by corruption that it requires time to get overcome from this. Banned of old currency, linking your accounts with your Aadhar digital payments and so on are the stones with the help of which we can build a bridge to overcome from the specific problems and obviously it needs time. No miracle will happen in some years but yes its a good initiative.

Now, the cons. The govt should arrange proper facilities for changing currency. We all saw in news that there were huge queues in front of ATMs, some people died, some suffered from other health-related problems while standing in the queue. People who thought if they went to the bank to change their black money then obviously they got arrested so they destroyed our currency. They threw that currency in river, dustbins, on roads and so on. There was a huge loss of currency because of these things. Though it was black money they didn't contribute that money to the welfare of our country still it was a loss to our currency by destroying it in those ways.

At the time of demonetization we suffered from some problems but now we have successfully adopt that change.

So conclusively Demonetisation is like a injection to get rid of the illness of our country.

Hy everyone,

I appreciate and definitely find its true that banning 500 & 1000 notes is just a very powerful action taken but to be honest after one year of its implement anyone can hardly see any drastic changes due to it. According to RBI, 99.2% of floating money i.e. before demonetization has come back resulting in a very less or can be considered nil amount of black money is find out. Actually, the scenario is way more complicated then what it is as every person who carries money in a big amount never goes for paper money, he either invested it in business or in lands or in shares and other techniques i.e.no one carries money in cash therefore there is no major impact on them and let assume some may carry but believe me they definitely have figure out how to deal with it. The only people affected are the mediocre and poor ones standing in a queue, worrying for the cash they have just pulled out for their daughter marriages, no acceptance of old notes in hospitals and the count is countless. So I see no major changes in the society but creating a lot more of havoc in peoples only, therefore, to sum up, I can say that the banning of notes is a very heroic action taken by anyone after so long but the way it has done is not so successful because the result after one year is in front of all. It is just a major setback of a very powerful action with no reaction at all. Therefore, can say that the system of corruption is still same it has just changed its clothes now it's kinda pink.

As we all know, Shri Narendra Modi Sir has recently ordered the ban on 500 and 1000 notes. We can find people all around reviewing the situation some are admiring his step, while some are just blaming the government.

Well, on my part, every step has its own ups and falls. If people say that they have faced a lot of trouble owing to the situation, it should also be admitted that so many money-makers have been exposed: people of all occupations-lawyers, stall owners etc. We could have never thought that even those people who cannot afford a full-plate food, can be found hiding their "immense unannounced" wealth!

Could they be exposed before? NO. Because there was no such law or order that could terrify them.

And when, Modi Sir, a citizen of India has made such a decision, he must have thought over it several times, because it was an important decision that could change the whole scenario. We should respect his decision since at least someone has thought about our mother India and her present helpless condition!

And we all have seen many fruitful consequences arising out, the unmentioned wealth of so many corrupt people has been revealed, and surely the people in far remote areas (where there are not much chance of online transactions), would think a thousand times before indulging in bribery cases---this is, indeed, a very effective step.

So, I conclude that although this may not remove corruption completely, but it is a good start.

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.

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.

Hello, everyone.

Our topic is related to demonetization. I had gone through all of your comments. Every one is saying that implementation is not good. My opinion is quite different I think implementation was also very good. First, you are going to ban money and don't want to make it public before a proper time, because of you make it public then everyone will dilute their money anywhere so your main intention will be ruined. Another thing is that if you think deeply that gov bring an scheme of Jan dhan khata so that everyone has their own account and they can submit there money their. So it was the first step implementation by the government in the way of demonization since it was a very confidential issue so gov have to announce it suddenly so that the corruption doesn't have much time to take any action. Everyone is talking about rich people in our banking system anybody can submit money in anybody's account. So if a person is rich then they will send their servant to submit money that's why you can not see the rich in the queue. After demonization, one year the GDP decreased but after that it is in very good condition and the revenue generation by tax is also increased. One very important thing is that 500 and 1000 is our major currencies for global trading. And if something written on notes is not acceptable and the amount of such notes was very much so new currency removed this problem too.

Hello everyone,

As per my opinion, banning 500, 1000 notes is just changing clothes I would like to explain my thoughts which are self-explanatory for the favor of my point.

No doubt it was a good initiative by our honourable PM Shri Narendra Modi Ji on 8th November 2016 in order to stop corruption in the form of black money and help the overall economic growth of country although this decision was taken by very suddenly and hence no adverse effect on rich people.

Secondly, middle-class people suffered a lot by this decision because there was no new currency in the bank for being a replacement of old 500 and 1000 rupee note and there was large queue of people at that time for replacement of currency hence people suffered a lot.

Thirdly, by banning 500 and 1000 rupee notes the share market was drastically down in the next consecutive 2 months from the date of demonetization and significant fall were observed in %GDP of India by our economist.

In favor of my point I would like to enlighten the fact during a decrease in the % GDP of India many people unemployed due to lack of jobs in the market and most importantly as per RBI report 99% money was recovered so this decision does not give any help to make a full stop of black money.

In the end, I would like to conclude my point that banning 500 and 1000 rupee notes were just changing clothes nothing else.

Thank You.