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

It is obvious that ban of 500 and 1000 note have the major effects on black money opposition not on corruption, because what we generally know corruption is not taking money only but service also in the form of money. Another aspect I want to touch if an officer wants money as a corruption he can take in 2000 notes also. So if any technique is adopted in the making of notes to keep track of a large amount of money deposition at any place then only we can say we are approaching towards the goal that is one and only corruption. Otherwise, it is wise to say it is just changing clothes.

It's a good initiative taken by our PM Shri Narendra Modi to make our country free from the black money and corruption happening in our country. As without proper planning and strategies they implemented this and due to which the common people of the country affected it more. They suffered a lot for getting their money exchanged from the banks due to which many have to lose there lives because they do not have enough money with them to buy the foods. Along with these small-scale industry people also suffered due to this. These change added extra cost and debt to our Indian economy.

On 9th November, 16 government announced demonetization of 500, 1000 notes nd the reason given for this move was uprooting of corruption and wiping out of black money but in my opinion this ban was like just changing clothes because the black money in 500, 1000 currency notes constitute barely 1-2% of total black money in the country and those who were having undisclosed money deposited their money in different accounts under different names to evade tax so the sole purpose of fighting black money was defeated and 2000rs notes made it more convenient for people to store the money.

Hello,

Demonization is a big step taken by our government and I support that because if we are asking any person about ban 500, 1000 notes is a corruption uprooted step or just changing clothes then 95% people answered that yes we feel some problem because we have to stay whole day in bank and not going to office or their place of work but even they says it is a great step taken by Narendra Modi.

And of course as we all know if we want to change our country from developing to developed country we have to face some problem but taken big steps as like demonization.

Thank you.

Hi everyone,

The ultimate aim is to uproot the corruption from India. But, practically it's a daydream.

Because still we have more corrupted money in our country.

Many of the black money holders have changed their 500, 1000 rs notes by their influence.

But, it just affects the normal peoples in our country. The peoples have to stand in a long queue to change their money. There are no black money holders waits in the queue to change their money.

The idea is good thing. Through this drop of a water gets poured. But, still, we had an ocean to clean. Water - corrupted money.

For changing the old rs-500 and rs-1000notes we had a need to deposit that money in our account so that we'll get the new currency balance. But it was not a good thing as everyone needed to go the bank and submit the money those who didn't have the accounts, needed to urgently create the account which was a really unmanageable task for banks as well as common peoples and another issue was with the limit for the money exchange. Though the whole currency change procedure was for good purpose it just created problems for the common people and can't reach to its goal accordingly.

Hello everyone,

Acc to my point of view, demonetisation is the right decision taken by the government in the part of developing our country. Many of them thinking that they got troubled because of the demonetisation. But, nothing comes easily.

Many of them thinking that it was not implemented correctly and it is failed. But I'm saying that it is a great sucees to our country. Because, may be it is failed to get back the corrupted money but, now our country going through digital. Because of the demonetisation everyone is going through digital payments like paytm, bhim. Etc.

Ban of 500 & 1000 rupee notes is appreciable up to some extent, but at the same time, it also becomes monumental disaster for the middle-class & poor people. It really affects their life, rich people easily converted their black money into white with the help of many brokers, officers of bank. It will not help in stopping corruption. After the banned of 500, 1000 rupee note, 90% of the currency would return to RBI. , this shows that government should take strong step toward corruption and mainly audit the account of the people those who have account in swiss bank.

According to me, it is very well known to us all that only 12% of black money were evaluated after demonetization, the rest are in the form of gold, private property and swiss bank, so this major part of black money is required right, and this is not the first time demonetization had occurred, so creating these event just for political purposes is not fruitful, and because of this middle class or poor get suffered.

So demonetization is not the right way for bringing black money back, there must be some other way around without affecting the middle-class people and poor.

In my opinion, the corruption hasn't uprooted because earlier it was hefty to keep large amount of money since the notes were small valued max at 1000rs so for 1 lakh the person had 100 note bills of 1000 but now it has become much easier as the same value has been turned down to 50 notes of 2000 so it is much easier for a person.

Secondly note ban brought alot of illegal exchanges of notes, there were instances where some bank employees were exchanging notes at a rate suppose 8000 rs in new currency for 10000 old currency so thus promoting corruption at certain levels.