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

Hi friends,

As we everyone knew that in this world everything has two sides good and bad. Demonetization was implemented on 8th November 2016 which created a boom in our country. Implementation of demonetisation was a good source or startup of reducing corruption. Although rural area people suffered a lots but for any startup of country development some or other has to face. Due to demonetisation there was huge shift towards electronic payment like paytm, bhim etc. This made the mode of transaction in easier way. Demonetisation also made corruption open eventhough it's not completely vanished but was a good step to reduce corruption. Finally, I would say for any startup to develop our country difficulties arises but that should be faced with unity.

In my view, the decision is good the government also give their whole efforts to implement this decision and also they are fully ready to implement this decision but the problem arises by banks because in banks the people who are sitting on the seats are the same people who also involved in the corruption. So we can't simply blame the government. And this decision also effect the Indian economy the fake notes of 500 and 1000 are regulated in our economy so that why this decision of demonetization is necessary to stop these fake notes and also decrease the supply of money in the economy and its a very daring and tough decision the government to implement this step in such large economy.

Hello,

In my opinion, the decision is taken by govt to carve out the currency of 500, 1000 is appreciable.

Yes, in real time it works but not effectively work to uproot the corruption due to the extension of the period. It was surprising to all the citizen to happen dramatically.

As recently grab the no. Of bags of containing 500 1000 notes which were smuggled to Nepal.

India may have many sources to convert the black money that is why income tax become attentive regarding loophole to carve out the sources.

In my opinion, ban of 500 and 1000 notes is just changing clothes. If the government had taken proper measurement of having the new notes printed way before banning the old notes would be better. Due to this many people were affected and those people were none other than the middle class people. The main reason for the ban was forgotten. The riches are still rich, the poor are still poor. The government took action on only few people who were against this ban. The rest of the people with black money, still have the same money. For ex: Consider what happened with the introduction of free Jio sim, all he did was give it free and spend all his black money. But now we are paying him back 3 month once. So banning of the old notes is just change of clothes.

Actually Banning of 500, 1000 rupees notes wasn't a good decision. Poor remained as poor and rich remained as rich it dint make a major difference it was just like changing clothes. There was even decrease in GDP ratio. As well middle class people faced lots of problems and 50% of corruption was stopped with this banning.

To control the corruption of India, it's a good idea. But they are not implemented correctly. . This proved to be a powerful step but not a great one. There are several reasons to it. First of all, our poor class suffered a lot. Exchanging their small cash savings by standing in queues and lack of new currency notes was a backfire. There were also few instances where rich uses poor for exchange of money by offering a small amount of commission. Last but not the least, our people are in habit of making black money deposits and this has continued even after demonetization.

Hii everyone, according to my view point, this is a very good and strong step taken against corruption by the govt of India. If every employee in the bank did their job with honesty the result would have been better, since some of them helped to exchange black money made the poor class peoples suffer.

& lack of newly printed currency, also it is the responsibility of government to take strong action on them and make this step help the poor and against corruption. And thus it became golden step in Indian history.

By banning 500 or 1000 notes flow of currency in the denomination of 500 or 1000 is completely restricted which means printing of new currency. This would certainly disturb the business of fake currency and to some extent corruption shall be uprooted.

The process of banning notes was quick but reduction in corruption is slow process and it'll take some time but it is uprooting because government didn't only banned notes of 500-1000 but also they've also started to linking of adhaar everywhere and digitalization so together all these effort will surely eliminate corruption.

Hello everyone, in my opinion, I'd like to add up to this discussion that if we keep on thinking of "if's and but's" we can never proceed and progress is well. So it is true that the middle-class people suffered a lot in every aspect, but I think the rationale here has to be "plant a tree well before you need the fruits" which lacked and made a middle class to suffer which contributes to a major segment of our country. At last, I want to conclude that it's always better to be a part of change instead of merely thinking of it.