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

Hi,

Due to the demonetization, the common man of our country has faced a lot of problems also our farmers have faced a lot of problems. Actually, our government and RBI did not implement the demonetization drive properly. Many people face a lot of problem due to the unavailability of cash. In our daily life we need a lot of things like milk, vegetables, medicines, etc and for getting these things we need money and money is not present in our pockets every time. So whenever we want money we go to ATM and take the money and follow our daily life. But due to unavailability of cash in ATM, many people in the country have faced the problem.

On 8th November 2016, our honourable PM Narendra Modi took a decision to ban all 500and 1000 rs notes. The idea of banning 500and 1000 rs was very good but it was not implemented in a proper way due to that many people in our country especially weaker sections and middle class people had faced a lot of problem.

Demonetisation has both merits and demerits. Merits: due to ban of 500 and 1000 rs notes all money which was stored from many years comes out. Also due to the demonetisation fake currency which is used by the some unscrupulous elements get destroyed. Because most of the fake currency is used to spread some terrorist activities in the country. So demonetisation was a good surgical strike on these fake currency.

Demerits: The only demerit due to that the demonetisation drive was failed is its implementation. Government did not implement it properly. In banks and ATMs the availability of 100 rs and 20, 10, 50rs note was very less due to that the common man had faced a lot of problem. If government makes the arrangement of these small rs notes before the implementation of demonetisation drive then it is very helpful for the middle class and weaker section of society. Total 125 people were died due to the improper implementation of the demonetisation drive. .

On 8th of nov. 2016, our worthy PM announced the ban of 500, 1000 notes for any kind of transaction. This step was a ray of hope for bringing forward the black money in the form of cash and the culprits behind this but after few days people faced the dark side of the policy in the following ways :

1. It has grievously affected people's livelihoods and basic liberties. Many people have committed suicide, some have died of shock, some have succumbed because they couldn't buy medical care with the old currency. A large number of people have been deprived of their daily incomes. Worse, the "inconveniences" are unevenly distributed. The poor and lower middle class have been most severely affected, while the affluent sections, with access to plastic money and deep pockets, are better off. Marriages and private ceremonies have got derailed. Not a day goes by without a tragic story of personal grief being reported in the media.

2. Not a single business man or minister was seen in those question before banks which are the primary source of the black money.

3. Insult of our own currency was seen when people threw notes in garbage and sewage & some of them burning them.

4. The policy also seems to be detached from the socio-economic realities of rural and semi-urban India. Agriculture sector, micro, small and medium enterprises and rural economy have been badly hit.

It was a good initiative by our government but we have to accept that it was a failure. First of all the whole country wasted enormous time in the queue. People have no other choice. The implementation was so poor that every Indian was affected. During the first eight days of the Demonetization more than ten new rules have been changed which shows how much RBI was prepared. Coming to corruption Bank was having a great deal with the corrupted people it was 50-50 offer. Only 5-6% black money was recovered. On 17th June 2017, a BJP member in Kerala was arrested for printing fake currencies in new 2000 notes. The data and fact say that terrorist and Naxals attacks have been increased. The ATM Delhi and of some areas was reported to dispense the fake currencies. So overall it was a failure.

Hello friends,

In 8th oct, 2016 our PM Narendra Modi has launched ban of 500, 1000 rupee notes. I think it's a good idea by Indian government can uproot corruption from our economy. When this decision was implementing we saw a lot of 500 and 1000 rupee notes were in dustbins and roads so we can say that lot of black money is destroyed but it not implemented fully cause many of big leader, businessman is also having black money but govt couldn't find any money means they are hiding it. So, govt must be taken strong enough step that those black money should be destroyed.

There is also some problem like common peoples especially old persons were stood in a long queue in front of the bank, ATM's for changing money or withdrawal money so that is a very struggling situation for them even in situation 126 people died.

They do not get enough money from the bank because of unavailability of money so peoples were anxious about them and more over bank giver 2000 rupee notes to customers so when they went any shop shopkeeper and customers both are not able to give changes. In that situation, many businessmen were getting loss. But after 500 rupee notes in market situation came to normal.

I think if government Take enough backup then peoples are not getting harassed so.

Thanks.

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.

In my opinion Ban of 500, 1000 notes is not a good decision because due to this common people face so many problems. People have to stand in a line for hours for changing their money some people may have committed suicide and there is lots of problems faced be them.

The government took this decision to control corruption but there is no effect on corruption and people also find some way to rid of demonetisation.

So, this cannot control the corruption.

Hello Everyone!

The sudden ban on 500. 1000 notes were to stop black money from the system. It was campaigned in favor to improve the economy. After going through all the processes, awaiting in long questions by middle-class people and sacrificing the life of many proved that ban 500, 1000 notes were just changing clothes. Only middle-class people suffered. As per RBI data all money back in the system which was in the circulation before the ban. Now the question arises where black money has gone or does black money exist in the system. If yes, then why these are not being stopped?

So it can be said that banning notes was not an appropriate action to pull black money out.

Hello friends,

In my opinion, demonization is one of the best initiative taken by Indian government till now.

Due to this no doubt, the black currency is almost uprooted but the fact is due to this the people suffered so much especially the women who saved money for difficult situations of upcoming life.

So, according to me, it had both good and bad effect on the people of our country.

Hello,

From my side, I would like to ask why govt doing this?

Most of the people are ready to manage that type of problem because they know very well govt at least trying.

So why we can't support to Govt?