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

In India there are 5% of black money. Black Money is higher in USA than India. The government decision of demonetisation affected the common man more than rich. Foriegn investment reduced. Again there is no change in the corruption habit. Introduction of new 2000 note in the economy was very slow.

I support for banning of 500, 1000 note because it plays a vital role in our country development. This stage of banning notes over black money container businessman necessary to show details of theirs money how to earn and why they do not pay taxes.

In my point of view, demonetisation is a good initiative taken by our honourable PM. It is a good step taken by the government. It may uproot corruption. We must participate for its support. For any kind of revolution we have to face many problems but for some time. We must active for its participation in it. This step has given a shock to rich people who had black money. A lot of black money came out during this period. Therefore I would like to conclude that a minor portion has been uprooted by the ban of 500 and1000 notes.

Thank you.

Yes, it has been uprooted corruption because all the black money removed from the market and now more people are using digital payment method where corruption can not be possible because bank and govt can track all the payments.

Hello, everybody!

I believe that the banning of 500 and 1000 rupees notes and the introducing the new 500 and 2000 rupees notes is certainly a major step in curbing the black money transaction in India and hence corruption. Although many short-term problems were experienced like standing in a queue in banks and ATMs in the scorching Indian heat, I believe that this will help us in the long run. Also by this demonetization, the government has shown that India is gradually going towards a cashless economy with digital payment apps like PayTM, Mobiqwik etc now ruling the market. The advantage of this is the circulation of black money transactions will be reduced thus improving our economy and hence the GDP in the long run. So yes, demonetization has certainly been a step to uproot corruption but at the cost of some short-term sacrifices.

I would not like to say that it uprooted the corruption as no one was caught and they were simply given a chance to convert their black money into white by allowing them to keep their money with 40% tax so the person having 2 lakh extra money will have now 1,20,000 but yes it profited the government the most through tax and large amount of money was collected. Also, the implementation could have been better or well planned so that the huge lines in front of atm were avoided.

As per corruption, I don't think that much was done because does anyone think that anything changed apart from digitisation? only the colour of money changed.

As in my point of view, banning 500, 1000 was good decision but implementation was not good only middle class family are affected because high-class family direct withdraw or deposit their money by passing side money to banker but middle-class family waste enormous time in queue government direct intention was to collect taxes because money which people has saved in their home deposit in bank or they will not but in both way government was is profit.

It is obvious that ban of 500 and 1000 note have the major effects on black money opposition not on corruption, because what we generally know corruption is not taking money only but service also in the form of money. Another aspect I want to touch if an officer wants money as a corruption he can take in 2000 notes also. So if any technique is adopted in the making of notes to keep track of a large amount of money deposition at any place then only we can say we are approaching towards the goal that is one and only corruption. Otherwise, it is wise to say it is just changing clothes.

Hi, I am Yakesh. My opinion towards this topic is a ban of 500 and 1000 rupees note is just a waste of money, time, lot of people's energy and many people's life. It has very small effect on India's black money. Many politicians, actors and big personalities not anyone specific have crores and crores of black money in swiss and many foreign accounts. Banning the old rupee note in India is not going to affect their bank balance. This has just made middle-class people's life a misery.

Hi. I think that Demonetization is a bold move by the government. Its result will be seen in the long run. Almost 85% of the money was in the form of 500 and 1000 rupees notes. Scrapping these notes will eventually result in scrapping the black money in the form of currency. But, most of the black economy is in the form of different assets like gold. I think this is just a small steps and an appreciable one. But in an economy like India, major decisions like these are to be taken in future to ensure the uprooting of corruption.