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

Hello everyone.

Demonization was the biggest and bold decision taken by our honourable prime minister which was in against of black money and corruption. As it is said that clapping is not possible with one hand so it is required to be responsible every person for what they are doing. This big step failed somehow at that time when bankers betrayed and convert all the old currency in newer one and they concerned chiefly. Banning old currencies was only way to took out which were stored forever as a black money. All the fake currency production market get hitted at that time. So I think we should come with responsibility and honesty to succeed these steps taken to improve our life and future.

What I feel is that in the present situation, it has been useful because it has discouraged black money by preventing corruption but in the longer run the same corruption is going to repeat again and again some way or the other. So, the govt should take more care to prevent corruption by banning these notes and producing newer ones from time to time and better method should be introduced for the ppl to exchange their notes easily.

It is a good idea and that main aim of these procedures is make an India as a corruption free country and also black money but it is not affected the corrupted people it's fully impacted on common people's and no minister is suffering from this idea normal people are suffering because only normal people stand on the road and collected money in the bank with that so much of struggles but any politician or any rich people not stood on the road and also in the banks how they get money and says all Indians are same where is that and my opinion is India failed in this demonstration it's all affected on the normal people's it's not working on the politicians and rich peoples.

Demonetisation of the 500, 1000 notes has helped to identify the shell companies operating across the country that is making transactions illegally evading taxes. Corruption in the country is unperturbed, as the corrupt officials followed different ways to monetise their money using Jan-dhan accounts, restrictions on withdrawal has no effect on these corrupted people as they knocked the back-doors of the banks. Certainly, this is a welcome policy by the government of India, as it at-least helped to identify some of the corrupt officials and shell companies.

I think that just banning the notes won't be beneficial. Because new notes are also introduced. So the government should make sure that it is impossible to make copy of the new notes. And corruption won't go away so easily. For that, we need better laws and proper scanning of every individual involved in money related process.

The decision of our honourable prime minister took last year regarding banning 500-1000 notes has not worked fully that is corruption has not fully uprooted but it has affected. As we know that in a real world bringing this kind of change in a country which has very high population is not easy nd there is no magic that can uproot corruption overnight. We need to work for several years on this moreover this aim can't be achieved by a single person or by a group of people. This can only be achieved if each nd every citizen is willing to do this nd work honestly to make our country corruption free. Moreover talking about note ban, this action of our prom minister was a tight slap on many traitors like the one's making duplicate notes nd even on terrorism no doubt that the common man was affected badly because of this because all their routines were disturbed because of that long queue outside the banks but what we have analysed that all common people have supported this act nd were happily contributing which was good because all of us wants the same thing that corruption should be uprooted nd we all trust prime minister for the same.

Because the main reason is the catchup the richest who had black money & the enemy country Pakistan supplies the duplicate notes & also some members in India, they also publish the duplicate notes instead of original.

I believe it was a very good attempt by our prime minister to come up with the idea of demonetization, with a view of uprooting corruption; I would rather say that it was a very bold and powerful step that could have been taken by anyone in past 20 years of Indian politics, but then when I see whether this move has actually contributed towards uprooting corruption I would say "no" ; the example to support the same is a small article that I came across just a few months later demonetization was declared and the nation was suffering through a serious financial chaos.

The ultimate motive behind demonetization was to completely wash off the trend of counterfeiting currency by introducing 17 security features or may be 18 I guess out of which 14 were counterfeited in the month of January itself as reported by an article in Times of India where a bag full of 2000 Rs new currency notes was confiscated on grounds of same declared as counterfeit within 3 months of demonetization not because counterfeiting practices are touching skies, but the reason being that our country spends less than 100 Rs to mint a 2000 Rs note, our practice to reduce cost of minting which will surely attract more of counterfeiting which is nothing but again provoking corruption as compared to countries like china and US who spend around 3 dollars to mint a one dollar, this discourages the counterfeiting because it will cost them more.

So the main perspective to wash out corruption failed at its very initial step also we have been hearing of instances where people with enormous amount of cash in their houses have somehow managed to escape the situation either through targeting poor people who agreed to deposit it in their name against some cash rewards also we have been hearing in media about incidents of bank manager accepting bribes against exchanging cash amounts.

So although the movement was very bold, but I believe it failed miserably because the uprooting of old corruption had sown the seeds of new ones to take another shape and to show the entire civilization another form of disgrace.

I think decision of banning 500 and 1000 notes was proven unaffected on corruption as we know why this decision was taken by pm because to eradicate black money from root and disrupt the connection of flowing fake money but regain fake money is on the air those who had been printing fake money have started again and spread all over the country. So I don't think it is good.

Hello, everyone.

The nation came to standstill when honourable Prime Minister of India announced that Rs. 500 and Rs. 1000 notes cease to be a legal tender.

The idea was really good but they failed in its execution. We can understand the effect it caused to the 3 classes- low, middle, upper.

Lower class people had affected the most due to demonetization. Most of them weren't really aware of the situation created. Even though schemes were launched ensuring people open their bank accounts, they weren't well trained regarding its usage.

Some of the middle-class people were affected as well, mostly who had a business which involved cash. Others had nothing to worry about unless they had black money hidden in their basements.

Upper class consists of most of the people with black money which includes politicians, businessmen. As our Ex-RBI Governor said 'People Will Find Ways To Divide Their Hoard', that is, people will find new ways to convert their black money into white.

Many people died during this process and I feel instead of demonetization, the government of India should've ensured strict taxation laws which would've saved the people of India from such chaos.