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

I think it is controlled to black money, stop funding of terrorist and clear fake currency, narrow the gap between rich and poor, and open bank accounts and also makes identity cards, make tendency of using plastic money which makes economy better in India.

I think the step taken by our PM Narendra Modi ji is absolutely right. I am not saying that it will clear 100% corruption but somehow it will erase some percentage of corruption. And the people who are raising their voice against demonetisation should look once themselves in front of the mirror and should decide whether they are doing right or wrong and not only this people who are corrupted are only against the demonetization and not the poor people. I wants to ask you all why the poor people are against demonetisation?

Are they really not getting the new currency now also or if we talk of November Month? Before demonetisation, they were saying that we don't have money to even give good education to your children so now why they are saying all this? These all are politics and nothing else. The people who were standing in the question were not having any single money in their bank accounts. Now the question arise why the people are against demonetisation? It's an abominable question.

First of all, good morning all of you. In my opinion, PM Modi taken decision about demonitization is very good. It helps the country growth economical level, in our India, there are so many peoples not paying their taxes, and corruption happens so that the good decision to make our country economically strong. I know because of this person suffering a lot they do not withdraw the cash as they want and also the poor people not understanding the online transaction but this problem will occur only few days but pain (corruption) is cure permanently.

Every step of us faces some difficulties and advantages Nd troubles but overall no doubt it's a bold and best decision in the comparison of other leaders. We can expect further more good from gov.

Hello everyone, in my point of view ban 500, 1000 notes it is a good decision by the prime minister Narendra Modi & corruption decreases in our country while so many people in India to their money foreign bank this is the big thing to demonization in our prime minister.

Hi, good morning all of you.

As our topic is demonetization I think PM Modi takes the good decision, and his decision is very useful for our Indian economy, there are lots of corrupt peoples are in India they provide money to the terrorist and in Pakistan there also they made fake notes so that all problems are now solved. In India, there are so many peoples not paying their taxes in time. So because of this decision they do not have any other option. And that's why now our Indian economy very strong compared to other country's that Modi said. So that'it.

Corruption has its root deep. But after the cancellation of 500 and 1000 notes the rate of corruption has somewhat decreased. One evident example is that after this ban approximately 1.5 lakh new accounts in SBI as weel as 1.2 lakh new accounts in PNB has been opened. And several money holders have invested heavily in automobile etc. The goal of the government is clear that whatever money is being circulated in the market that money should be in record books of government. So the more the accounts more the cleaner will be the flow of money. And prior to this ban, approximately 36000000 crores of notes of 500 and 1000 were missing from RBI's record book. So the value of that money is nullified as well.

So this move is not a panacea but it has checked the rate of corruption.

Demonetisation was a very brave and bold step taken by the government. Yes, it helped to reduce corruption to an extent because people couldn't dispose of their unaccounted money they had and the only thing they could do was to either declare their income and pay tax or dispose of. And through this step bank got a lot of tax money which could be further used in the development. Also, now people in villages also realise the importance of having a bank account. I know many face very difficulties almost everyone but as it said desperate times desperate measures. It helped India to look forward going digital and cashless. I wouldn't say it just changing clothes because govt is taking keen measures and steps to make sure everyone pays his due tax. And the most important thing in an economy of India such large taking a step like this without letting anyone know and yet making it successful is very very difficult I mean our economy didn't stop. We should really appretiate our government, banks and people for their efforts and support.

I think it's just changing clothes because you can't stop corruption by changing currencies on the different time period. You should ask an economist what effect will be on the GDP. The economy will be deprived, he will never support such type of decisions from government. The lesser the currency the better for the chance of growth.

Hello, everyone,

I think that by banning 500 and 1000 notes it has helped in dealing with black money and fake currency. From different sources, it was found that most of the fake currency was dumped in India from Pakistan in Kashmir, which was used to fund stone pelting groups. The proof of this is that when demonetization happened, the incident of stone pelting stopped in that area. Well by doing demonetization it has helped the government in catch holding people with black money but this is not a full proof solution as again the people will accumulate black money and now this time its easy for them to accumulate as now 2000 notes have been introduced which is really horrifying. GOI should take some step to move Indian toward digital economy which actually is the permanent solution of it.

So, I would like to conclude that though its a good step toward curbing corruption and black money problem but this is not a permanent solution as this problem will take new shape and re- emerge even stronger. So this actually is a changing of cloth.