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

If we talk a serious debate on demonetization issue than there is a lot of things which we have to discussed.

Firstly, we talk about its advantages, it is a short-term process of applying a brake on a problem of corruption, terror funding, and many other black market business. If it repeated continuously after a certain period of time such as 10-12 years than it may be effective. In order to gain more from this action than it should be applied before elections. On the other hand, if we talk about its demerits than it will affect innocent people more due to our corrupt system. People died due to poor management. Some rich people having good political connectivity recover more than half of new circulated money. If we are equal than we could not do such discrimination on the circulation of currency. Moreover, farmers suffer more than anyone else. At end, I must say a demonetization is a good approach for the progress of our nation but with this, I must say it should be applied for everyone not only for poor but also for leaders, rich, actors, singers, and many other. It is successful only if we see leaders, rich, actors in a line for changing notes.

The move by the Central government and the RBI to pull out the old Rs 500 and 1000 currencies out of circulation is indeed a bold move, with the stated objective of hitting hard at corruption. However, the hasty implementations of such a move have taken the country by surprise and we are all familiar with the inconvenience it has caused. Now talking about corruption, we may be inclined to agree that yes corrupt people have been caught and money in huge amounts confiscated, according to media coverage and government revelations. However, we need to be enlightened to the fact that the sharks swim deeper. Those with the power and reach don't stash the money in their houses but dump it abroad. And only the small fishes fall into the net.

Also, thanks to confusions and misinformation, we are aware of people forging even new bank notes. This has given a new face to corruption. People even are able to whiten their black money, with some help. We can accept that corruption is a social state that can never be uprooted till human greed prevails. Yes, the move is a welcome one, but a ton needs to be done still for achieving the results the nation desires.

It is totally useless to ban 500, 1000 notes. Indian economic strategy is slightly different. According to the government, the black money will be uprooted if we ban the said notes, but in reality is like a joke. I said 'joke' because there are 5-6% black money in cash in India. So it is quietly impossible to uproot the black money. However, Modi government took the decision. In my point of view, it (ban of notes) is helping to propagate black money in the market again. Why 'helping'? If you see the problem closely you will find that there is no problem with the black money or black money holders. Then why government take a decision like that? Some issues have no particular issue. This 'Ban' is that kind of issue.

In addition, I hope the businessman (like Ambani, Tata etc) have a lot of black money but in this demonetization, they cross the road perfectly. We have seen in the news channels and many other places that common peoples are trying to change their money in the bank and post offices but we never saw a businessman is changing his money. So how can we say that they were affected?

Whole the ban case is just like clothing change to me.

I think one effect that de-monetization saw is uprooting corruption to much extent. India is a vast country, so corruption also comes in that big size. And expecting that being uprooted in one go is unfair. A big section of the black money in India is in form of 500/1000 rupees notes, thanks to corruption. So banning these notes is, no doubt, a revolutionary step, by which black money holders were bound to unfold their money. We saw a series of headlines stating a huge amount of black money being seized by IT department. All this was possible only due to the ban of 500/1000 notes.

One more thing that can not be neglected is the boost to the digital economy with de-monetization. Promoting cashless economy is another hit to corruption.

Summarising it all, I would say that corruption is a very big, deep- rooted problem of India. Ban of 500/1000 rupees notes is just a small but effective initiative to uproot it. Expecting complete uproot of the corruption is unfair. We are surely going to see several more steps against corruption, some of them already being implemented are limiting cash transaction to 2 lacs, seizing of benami property etc.

Hello everyone, as we have a topic that due to demonetisation in actual the corruption has uprooted or else it is Jus a changing of clothes. Yes actually it is nothing but the changing of clothes. In recent, RBI launched a report in which it had been said by RBI governor urjit Patel that 99% of money is again in a system out of demonetised money. So, it means, the revolution for uprooting the black money was full of worthless and even we would say that because of it we are in a huge loss. Because the money that we would have incurred for printing new notes, that should also be in a counting and in totality wether we are in a profit or loss. It Is also not been spoken by anyone even after the completion of one year of demonetisation incident. And because of it now our economy has been fallen down to 5. 6%. Because of this current account deficit has also down. Import is even more lesser than export now. Because of that GDP had shooked up. So my point of saying is that before execution of any thing proper planning is required where the govt had lagged out. If they would have properly planned it then could have scenario different now.

The decision of our honourable prime minister took last year regarding banning 500-1000 notes has not worked fully that is corruption has not fully uprooted but it has affected. As we know that in a real world bringing this kind of change in a country which has very high population is not easy nd there is no magic that can uproot corruption overnight. We need to work for several years on this moreover this aim can't be achieved by a single person or by a group of people. This can only be achieved if each nd every citizen is willing to do this nd work honestly to make our country corruption free. Moreover talking about note ban, this action of our prom minister was a tight slap on many traitors like the one's making duplicate notes nd even on terrorism no doubt that the common man was affected badly because of this because all their routines were disturbed because of that long queue outside the banks but what we have analysed that all common people have supported this act nd were happily contributing which was good because all of us wants the same thing that corruption should be uprooted nd we all trust prime minister for the same.

Hello everyone.

Ban of 500 and 1000 rupee notes is really a big and bold step taken by our PM. And yes it is successful up to some extent. Recently as stated by our finance minister almost all the RBI money has returned, this shows that every black money is stuck with themselves. I think no black money holder will say in public that they are suffering by this new system. By ban of this notes, black money holders are suffered in silence and even poor people are suffered but it is totally different right. But definitely, this pain of rural people will give fruitful actions. They may suffer directly but they will be benefited indirectly and here is how.

Eradication of corruption is ultimately a profit based phenomenon of the govt and as this govt is for people so these profits are for the people. Ultimately people will be benefited by this but indirectly. We may not see money directly coming to our hands but we will be benefited in one or the other way by govt.

Directly its a little pain but indirectly its for good cause.

And yes, ban of 500, 1000 notes is not just changing clothes and definitely corruption uprooted.

Thank you!

Hi,

Demonetisation of 500 and1000 rupee notes is one of the major economic reform announced by our govt this year. This is done paramount to the rise in the flow of black money thereby destroying Indian economy. This is a great decision but it failed in its implementation. The failure happened in its implementation makes Indians suffer more especially the common people. The sudden announcement and the short span allowed for exchanging the demonetised notes make a large queue in front of banks and atm, make the life of common man miserable. The govt aimed at the black money giants, but they handled the situation without making any harm for them.

In fact, the everyone claiming that demonetisation is a failure, govt argues it could bring out some of the black money. The another drawback happened is we all know India is a country with a many illiterate people they were ignorant about this demonetisation and they got trapped and even some others make use of them. So in my opinion demonetisation could not bring out whole the black money or couldn't uproot corruption but this reform makes them changing their strategies in corruption.

Hi guys,

It was a bold step taken by our pm. It was not an overnight decision taken by them. All the politicians were aware of this before announcing, it has been affecting for the 3 class of people Low, middle and high. I don't know why being an Indian we are differing the ppl based on their money and level in our own country. Then it's not the matter to another nation to point out our country. Let's come to the point it's not the problem to only middle class and high class it's the problem to Every roof house to duplex because nowadays a beggar can gain a 100 rs note in a few hrs as like a business man so everyone has their own business. So nearly every member nowadays is having a 500rs and 1000 rs notes it's not the matter. Well, the main reason of this banning the notes are corruption and black money.

So, In my point of view, as we people as we heard about the decision of the pm we all went to our own plans what to do next and went for savings.

As like the corrupted people will also be in their own plans what they should do.

So what I want to say is yes it's the right decision taken but the implementation is not good.

Demonetization is actually a great job according to me because I think it's high time black money holders have to be caught and also hence they must suffer holding such money with money and conducting all kind of wrong businesses. Of course, every problem has its own advantages and disadvantages. A lot of poor people would suffer due to this issue as most of them do not have proper education and so they do not know how this digital payments actually work so government has to ensure that every single person is well aware of how it would work and or else they would suffer and it would do no good for our country also another problem arises where a lot of hacking is going on in case of digital payments so a lot of people would loose money easily. So government has to ensure that such situation are being taken care of. Proper security must be provided. One must not deny this wonderful step taken by Modiji because he was bold enough to take it which the previous ministers though they had made it they had not properly implemented it. So lets respect his bravery for making such a bold step towards creating a better India.