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

Demonetization is very sharp step taken by the government but they fail to implement it, according to some of the statistics there is only 3-4% Black money is removed from the country but what about else and also during this movement middle class people suffered a lot but I want to say it is a good initiative towards our country.

Hi, friends. A lot of conjectures are going on in this forum regarding.

The introduction of 2000 rupee note. It is true that now the higher value of the currency can be carried without much effort and 2000 rupee notes are more prone to become the victim of the parallel economy. But we have to understand the real scenario. GOI had completely banned 500 and 1000 rupee note and that is why about 75% of the total cash amount of Indian economy vanished. So to compensate this crisis Indian economists decided to stabilise the economy by the introduction of 2000 rupee note within a short span of time. The time is taken for the press to print a 100 rupee note and 2000 rupee note is same but by printing 2000 rupee note, it could pile up enough cash to stabilise the economy quickly, otherwise, it produces a negative impact on GDP and it could result in a severe economic crisis.

Hello, friends. In my point of view, the ban on rs 500 and 1000 notes is really good and bold initiative taken by our pm. It will reduce the circulation of black money in the market. There are some advantages of it like.

It has increased the deposit in banks so now base rate will decrease and the people get a cheaper loan, as well as they, had to exchange from the bank so there will record of each account and transaction so by this way black money could easily found.

Many companies and businessman had caught by it department for the illegal money.

It has also reduced the terror funding.

Hence we can say it is a very effective step towards corruption taken by the government.

Banned of 500 and 1000rs of Domenetization is a wise step taken by prime minister Modi on Nov 8 2016. In my point of view, it's not effectively executed main aim of this scheme was reducing corruption but it won't happen 5-6% black money has been obtained.

Lower level people has been affected based on his daily wages and middle-class people has affected by saving for his future implement such home construction, marriage and so on, high-level people such as politics, businessman few of them affected remaining change his black money based on investing on gold or diamond few politician member deposit in bank before itself because they are several group member with prime minister taken the decision.

It's only primitive level taken by the prime minister in my point of view.

In the evening of 8th Nov. ' 2016, our Honorable PM announced that Rs 500 & 1000 will not be legal tender, to stop the corruption, terrorism & black money etc. The decision was in the favour of nation but the people of India are so clever, they again searched a different mode to benefit themselves. Although, we can say that corruption has been reduced but by the introduction of Rs 2000 note the generation of black money has started again. The anti national activists could take the benefit of this by printing of duplicate notes and our nation will face the same issue. Before implementation of any legal boundation a complete research has to be done, so that previous mistakes are not repeated. So according to my opinion, corruption has not been truly uprooted from our country. It will really take some time for a corruption-free India.

Hello, friends.

Todays topic is very interesting and good topic also. Many of us will say it is good nd many say it's bad for our society. But before expressing negative comments. We should know about the advantages of implementing such process.

Firstly, it will help to curb black money. Many govt officers specifically state govt officers have a habit of taking bribe before doing public work. And the bribe is always in 500 & 1000 denomination. So aftr implmntng this process they are caught. & they are unable to do this type of activities. Its quit helpful for public.

2ndly, Some of our neighbour country were attached to do some illegal activities like printing notes& distribute those in our market. For that reason our monetary system was affected. But aftr taking this step this activity is totally vanished. And many us saw that the duplicate note were in dustbins.

I agree that in that time many of us stood in line infront of banks. It was quite painful to old man. But if we take good essence. Then we will see the condition of todays market is far better than previous. And it is good for our money market and also good for us.

Thank you.

I am Rajen Nakrani. I would like to share my opinion about demonetization. The demonstration is nothing but changing the current currency of 500 and 1000 in India. During this time Which black money out side and more pay tex. It's good to help people progress in India.

Ban 500, 1000 notes are a sudden decision taken by central government. By this, middle class people suffer a lot by standing on roads for changing their money. But, this is not a correct way to stop corruption. In my view, black money holders change their money in other roots. So they don't suffer in any way, but common people suffer a lot. This process is only changing a new clothes instead of old clothes.

Ban 500, 1000 notes is a very good step taken by Modi Ji but he got failed in the process of taking a step. If he took it in a right way than it would take India to developed country and it will reduce the corruption in our country. By implementing this I feel very less high people got affected by this because they have they have good knowledge on corrupting so they can easily change this money because they know it that's why they earned that much of money.

The people that got affected by this is only low level and middle-class people because the money they got earned is in right way that why are still in low and middle class. If they know how to corrupt then they will also high-level people. So I feel the idea that they got was nice but the process of implementation is not acceptable.

Good evening everyone,

I would just like to say that banning 500 and 1000 notes doesn't affected corruption at all it was just changing clothes. We indians are corrupt and we are used to it. Instead of helping to fight against corruption we support it. We people don't accept changes easily even if it is for our betterment. No doubt our honourable prime minister took a great step against corruption but still we won't support his effort because corruption starts from our home itself. Example: if a traffic police catch us for breaking rule like not wearing a helmet while driving motor cycle we don't let him do his job we will force him to accept our money instead of fine as a bribe. Thats where it all starts from and we idiots are used to it.

Coming to banning of notes it didn't affected rich people at all it was poor who got affected the most, the one who use to work on a daily wages to feed his/her family. He knows well if he won't work for a day his family will sleep hungry and some of those poor people were paid the banned notes from their place of work as a daily wage. So he had to take care of both the things to deposit his wage at bank and to earn for another day. Now coming to corrupt people they did it before with 500 and 1000 notes. Now they are doing the same with 2000 notes. They will never change. We need to support poor and farmers by changing ourselves.