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

The ban of 500 and 1000 notes was neither the complete uprooting of corruption nor the complete change of clothes. It was somewhere between the two but more towards the uprooting of corruption. The decision was bold and courageous. There was apprehension regarding how everything will work out but it was peaceful to a large extent. All the notes that were stacked up in the cupboards of people have finally entered into the formal banking system. It was, without any doubt, a step in the right direction.

Hello Everyone,

According to me, it was a correct decision which has been taken by our government, though the execution was little haphazard, the preparation would have been little better but with that, the time span was too short. I don't know about black money but some the money which was been stacked in some secret cupboards, wardrobes has been mannerly deposited to banks. Though common middle class people were suffering from some shortage of cash. But a brave decision and courageous decision was been taken.

According to me, it is nothing but just changing clothes. Corruption never stops in India. It finds its own way to spread out. Banning 500, 1000 notes will be a temporary solution to stop corruption but is not a permanent solution. New notes are coming to the market but in some places its also fake. Blackmoney is everywhere. Under the bed, in wardrobe, in a bathroom. Indian govt can't change India's atmosphere in one day by banning notes. If India govt can change people's mindset then corruption will be stopped.

Banning 500, 1000 notes was one of the orders passed in the "Demonetisation" scheme. The main purpose of the step was to uproot corruption from the country. I indeed, feel that this is a progressive step to achieve the above objective.

In the fist place, banning the above currency notes would compel the black money holders to immediately replace them with new ones. The corresponding bank transactions would be kept track of by bank officials, and the guilty one would be punished.

Secondly, it would also lead to a decline in corruption, since serving money to officers to fulfill demands would be risky.

It would also lessen corruption by preventing the manufacture of counterfeit 500 and 1000 notes, which has been prevalent in many parts of our country and even across the country borders.

Not only this, but this new step would also hinder the conversion of black money cash to gold or property equivalents, since even gold purchasing would demand a copy of PAN card for purchasing gold worth more than 2.5 lakh.

These assumed procedures, if sincerely followed by everyone- both government and people, would surely relieve the country of corruption soon.

I think demonetization has uprooted corruption to some extent as it takes out the counterfeit currency from the market some of the black money holders has disclosed their income so that they can get some percentage of the money after giving tax and yes it is the bitter truth but most of them had exchanged their black money. But demonetization helped to growth digitalization as it saves time.

I humbly respect all of your views and opinions as they are your personal. But as far as I am personally concerned I think that banning 500 & 1000 notes is just changing clothes. Because the purpose behind this was to curb and also discard the black money and corruption from the society which I feel the government failed to do. This is because news of demonetization got viral on social media as well as news papers much before the actual activity took place which help the big shots to convert their illicit money into legal by investing them into property and gold equivalents. Not only this but also people in certain cities and states started depositing their old currency in bank much before the government made an official announcement of demonetization. All this led to failing of the activity to achieve its purpose and also the failing of government in purging the black money and corruption from the economy.

I believe that the banning of 500 and 1000 which took place on 8th November 2016 was just changing of clothes as although the notion behind it of removing corruption and black money in India was good but the implementation part of it didn't work well as 86% of the currency which was in circulation was brought to a standstill because of which a normal man faced a lot of problems and the purpose behind banning it was also not fulfilled as 99% of the currency was exchanged.

But, the positive part of this whole act was it promoted digitalization in India as this was the time when the use of digital currency increased and people started using apps like paytm etc. Also to promote digitalisation at this time government launched BHIM app. It was a big step in a country like India where people believe in having more of cash in hand also I would appraise the government for the reasons they have for banning this big currency notes in India as it helped in reducing terrorism too.

Changes are important for the growth and development of any country.

But corruptions cannot be completely uprooted by such measures as it is in ourselves and within the change in ourselves can be the solution.

According to me, I guess the planning was good but the implementation was not. If the implementation was good then the middle-class people don't have to suffer and not to stand in a queue. There was so many ways govt can handle this like if they can just inform the banks that they have to work for more hours to handle the chaos that was going to happen but they didn't. Most of the banks instead of exchanging money they just told us that we don't have money and they took all the money to help someone they knew. They didn't care about we the people who are struct in a queue for hours so at last I just want to say that this step didn't make any difference.

I believe that demonetization has uprooted corruption and Black money usage up to some extent as we have seen that few after 2-3 days the news has announced the old currency notes in bundles were floating in rivers. If demonetization wouldn't take place that money would have been used for some corruption purpose.