How demonetization is affecting common people more than black money holders?

Demonetisation is the way to eradicate the currency which is currently used and introduce the new one which helps a lot to block the black money holders, terrorism from the country.

In India on 8 Nov 2016, Shri Narendra Modi gave the sudden news about demonetisation that notes of 500 and 1000 will be invalid from midnight today but they also gave chance to change our old currency from the banks but we have to give proof that our money is not black money. It affects a lot to common people too, because common people stand the whole day in a queue to withdrawal little amount of money and atm was empty. But the politician, celebrity, and mostly black money.

Holders change their currency from the bank easily by giving some bribe to the bank employees but not at every place but common people suffer a lot.

In my opinion, its the best initiative by our govt to block the black money, terrorism and it introduce a new era of cashless India because most of the people use the mode of online payment since that time.

Hello, everyone.

So the discussion is all about how demonetiZation is affecting the poor more than black money holders.

According to my view, It is very unfortunate that whenever any step is taken towards the well being of people it reaches to less percentage of poor. However, at the same time whenever an initiative is taken for any change, it affects the poor more. Same happened with demonetisation. Of cource, it has affected the money holders but the ones who are more affected are the poor. Businesses of small shopkeepers were affected as their business wasn't going on flow. Lives of poor were affected a lot and their lives weren't going on flow. Many who didn't have bank accounts they were left with no choice but depend on others for getting their money deposited. Rich ones were able to get their jobs done through online cash transactions. Fewer poor were able to do so most of them were not acquainted with that knowledge. However, when a change is needed few have to suffer. Thank you.

Hello everyone, I would like to get all your attention about that demonetisation certainly had effect on common people as common people have to stand in a queue for a long long time that too with no surety of getting money But it is also the duty of common people to contribute in a change for something good for nation.

Now if it is about black money holder they are very much affected but was shown as is in case of common people.

As we have seen a number of raids conducted by IT dept on black money holder which put them in a lot of tension and stress.

Our govt have tried to release stress from the commoner by allowing them to use demonetised notes at govt places and limit for withdrawal money for marriages had been increased and govt changes the rules very frequently just because the cheaters are trying to get a way to cheat for them govt was changing the daily rule frequently.

So I think commoner suffered for short period but cheaters are worse affected and punished.

Yeah, It was the good step I appreciate it too. But think it from the other side like I am not against of any political parties or not in favor of anyone.

Actually on the 8 of November 2017, we were not celebrating the new era of the Indian currency but actually, we were celebrating in those Innocents those who were died in the queue.

There was no trouble for the rich ones but actually, the poor ones and middle ones get in the frustrating trouble. One of the BJP candidates had been caught with around 2 crores of 2000 new notes. And many more.

So according to me, it was the most foolish thing that government had done.

And according to the survey 99%plus notes has been back to the TBI. Then what was the use of demonetization?

And the last thing.

If you want to stop the black money then why you can't write the expiry date of the notes.

From this notes will in the flotation which will increase the economic condition and through this, no black money will also be there.

Demonetization was good to stop things like reduce Terrorism, Black Money and to remove fake notes from the market.

But failure of demonetization is that its not well planed that's why the corrupt people find some black hole in the system and they convert there black money in white.

Result is till end 99 % of demonetized notes reatun in the bank.

Now comes to common people because of they have not such connection to the banking system they standing in queue or front of ATM's to exchange or deposit his earned money which is they earned by his hard working.

They lost there jobs.

They don't have money to arrange his own daughter marriage even they don't have money to buy his daily uses things, because company's had not paying him at a time.

Around 100's of people died during Demonetization, they all are COMMON PEOPLE not a single millionaire or billionaire.

So these all situation shows how Demonetization effect the common people life more than black holder.

Jai Hind everyone,

Demonetization means modifying the current currency in the form of a new currency. Our honourable prime minister Narendra Modi announced demonetization on 8 November 2016 and said the notes of 500, 1000 invalid.

It was a good step to destroy corruption and control black money. It also affected terrorist activities. Many people hide a big amount of money in their houses illegally which is called black money. Demonetization was good for the development of the country but it affected the big population of middle-class people. People had to face a lot of trouble in the process of exchanging their notes. It also affected the GDP of our country. Demonetization also increased digital payment across the country.

At last, l would like to say that every coin has two sides so demonetization had also both negative and positive impacts on our country but from my point of view, it was a good decision to eradicate corruption and black money.

Thanks.

Demonetization is a kind of government action to tackle and stop black money in country. It also has been done in 1946 and after that, I was done in 1978 by Morarji Desai to banned 10000 and 5000 Indian currency notes and now one of the biggest step taken by PM Narendra Modiji to banned 1000 and 500 INR. So it's a normal process and there is nothing to become shocked. Mostly, people supported this decision that is very appreciated and helpful for the government. As I know that common people faced many problems during change notes and withdraw also but I think, people should understand that if we stand in queue for movies ticket, railway tickets, strike and etc then why can not stand for stop black money only for one and half month. For my opinion, It should be happening in every 5 to 10 years to stop black money in the country and people must support our government ever because it will help to grow the economy of the country and decrease inflation. Thanks.

YES, I candidly support the statement. Although demonetisation was aimed to identify black money and curb the menace. But presently it has affected command people rather than targeting black money holders. Hundreds of hours of common people became useless in queueing up before ATMs and Banks for withdrawal of money or exchanging currencies. Many people lost their valued life. Degrowth of economy has rendered many people jobless. Rural masses are more deprived of new notes and buying of seeds and fertilisers has become a herculean task. People suffered a lot in organising marriages and related functions. Many occupations related to these got hampered wherein common people get seasonal employment. On the other hand rich and influential were found relaxed. New currency in bulk was found during search. The glamour and expenses of their functions were not at all affected. Moreover, some of them took the advantage of the situation and made money on large scale.

Hi guys,

Demonetization is affecting to the common people but they will get benefit from it in the future. Someone said that instead of immediate disclosed this information they should inform the people for fixing the date for demonetization if they do so, again it helps to black money holders before demonetizing they had exchanged the money from 500 and 1000 to 100 and 50 notes. Modi had taken a good decision of immediate action on demonetization. Of course, it had affected on common people not only in this matter. There are several matters are there which can affect to common people. If anyone made the survey immediate decision on demonetization they will get 80% to 90% good result because our country people know what is right and wrong. Most of the people knew that demonetization will help to the middle class and low class and it should affect on middle and lower class along with these things, they knew they will get benefits from this in future.

Hi friends,

1) Demonetization is the act of stripping a cumency unit of status as legal tender sometimes,a country completely replaces the old currency with the currency.
2)The opposite of demonetization is remonetization.In which forum of payment is restored as legal tender.
3) There are multiple reasons why nations demonetization their local units of currenccy.
3.1)To combat inflation.
3.2)To combat corruption & crime.

4)To discourage a cash -dependency economy.
5)To facilitate trade.
6)The demonetization initiative by the government of india has taken the country by storm.
7)Every single person living in india has been affected by this major change in some way or the other.
8)That the repercussions of demonetization will continue to remian in the newsfor some time to come is evident.
9)However before familly an opinion on the governments decitson todemonetize currency in the form of 1000 & 500 bank notes.
Thank you.