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

What I believe that to curb corruption ban on 500 & 1000 rupees notes were useless according to Indian statistics we have only 6% of black money available in cash form. So how Modi Government had taken the foolish decision to ban the money in order to get rid of corruption.

What I think is to better the tax and transparency are available in the system, then it will be quite easier to track the money and hence we have to look for better taxation system rather then flushing out the circulating money. The consequences we are already facing such as loss in GDP, perish of small & micro business, unemployment etc.

Govt should also band deposit with Swiss Banks and there should be proper agency to monitor FII and FDI as we know about Panama Papers. These kind of corruptions are real evil of Indian Economy.

It's not changing anything because govt wanted the banks to come up after they lost a lot of money in giving bad loans to ppl like vijay Mallya, Satyam computers and many others.

Just to bring banks reach a high demand they made ppl to go bank and deposit their money, that way banks will get a lot of shareholders due to their demand and also great revenue. Ex: Vijaya bank revenue (1st quarter) climbed 400% after demonatization.

And govt has not revealed any money which came from IT departments after so many raids.

The withdrawal limit is again removed from the bank, and influences ppl again to do business in cash.

What govt should have really done is withdrawal limit even if it 50, 000 and why didn't they do that? Because it's gonna affect them.

In my opinion, It was a great decision took by PM Modi. This time I must say that this turning point that came for the whole India will be a great benefit for everyone. After this decision, many things changed and as if now, the poverty line is also decreasing, and the motto is also fulfilling now that "All Are Equal".

From an economic point of view banning these 500 and 1000 notes are mere changing clothes. Theoretically there is little or no effect of demonetization on reducing corruption and curbing counterfeiting of notes, all demonetization does is, it reduces liquidity from the market and it induces people to use other cashless means of transactions but that is too in a short run, eventually people would hoard new currency notes and this would prove fruitless in the long run.

This demonetization has proved itself a failure with the economy being hit largely and employment affected especially in medium and small scale industries and.

Informal sectors where cash plays a vital role and business runny word of mouth.

In my point of view, ban 500, 1000 notes was a good decision. In nowadays the black money has in many investments like property and gold. But we no need to print 2000. If Our government print 500, 100, 50, enough.

Due to this step common people suffered due to long bank queue and also I believe that some people might be converted their black money into white money by using different tricks but I also believe this movement of PM Modi created a kind of revolution now every Indian is more aware of corruption and black money and want to stop that by using digital transaction.

Hello everyone, in my opinion, by banning 500 and 1000 notes the goverment has shown its intent that corrupt practices would not be tolerated anymore so by which corruption should definitely come down but can't say completely uprooted. Corruption has continuously changed its clothes from every beginning so the note would note have any major impact for those changing clothes very frequently.

I think the ban on 500 and 1000 rupees notes is just like changing of clothes. People who were corrupt have somehow made a way to secure their black money from the day when this rule came into action. The common people have to suffer a lot due to this change.

Myself belong to a village area and there was only one bank which was responsible for providing services to 10-12 villages. One day in a month of December I saw there was no money in the bank still the poor and needy people were in the long queue standing from 4 A M. And also they were only given 2000 rupees if money somehow supplied to the banks. The poor people who had work very hard and save their money in the houses in the form of 500 and 1000 notes suffered a lot in the exchanging them. The poor people who did not have a bank account and they daily earn wages to fulfil their daily needs such as people who drive a rickshaw, earn wages on the daily basis such as painter, sweeper, small fruit and vegetable sellers and many more common people.

The people who had to suffer for only the common people and no one else.

I am not against Modi Ji who had taken such initiative to remove corruption in the form of black money.

But they should have planned in such a way that the poor people could not have been in such a worse problem.

Ban 500, 1000 note is very good topic now a days. It is a very good topic for discussion, and dynamic topic too because there are various opinion behind that some people say that it will reduce corruption, some people say that it is only temporary change after some time corruption will again infect the society.

But as a Indian or as a common man, I will accept and respect the government decision because after some regression most of the public said that, this decision will vanish the corruption.

Some years ago there were lots black money was in swiss bank, but after note ban that money value became zero.

Lots of duplicate note's has been vanished.