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

Hello friends,

Demonetization is affecting both common people & black money holders. But the facts that is common people more physical problem as like standing the queue of ATM and bank line but black money holders are faced problem mentally because their all money which is collected by themselves are wasted. The news of demonetization not more than a nightmare. But after some days demonetization affect are normal and there will be no queue in front of bank an ATM. The effect of demonetization is that all black money is under government or money is wasted. These reason the Indian economy are better than before and Indian currency is strong comparatively other currency.

The most effect of demonetization is stopped the terror funding in India and real state cleansing. And India GDP rate is increased.

According to me, if we talk about the people who are rich, having black money they even not affected a lot because they come with another solution for this issue. If we talk about the people which are middle class or in other words common people they have limited money. They suffer a little bit because they stand in the queue for money, many other problems that they faced.

If we talk about one more type of people who are living in the villages. They suffer a lot from this demonetization. One of my friend did the research study in the villages about the impacts of demonetization he get to know the result that people living in the villages don't have their bank account and they have some notes of 500 and 1000. How they exchange their money they even don't know what had happened in the country?

Thanks.

Demonetization is a process in which, the currency which is currently running in the market is ceased by the government.

It is usually done to check black money and to remove fake currencies from the market.

Our PM Narendra Modi, on November 8, 2016, declared notes of 500 & 1000 as invalid.

The idea of demonetization was good but there was no plan to implement it properly. Lots of people lost their job, the growth of GDP also decreased, common people were seen standing in ATM queues for money while rich people were not seen in this troublesome condition. RBI also stated that approx 98% of the currencies were returned to the bank, it implies that there was the very less fake currency in the market.

This demonetisation could have been a very good step if there would have been proper planning.

In my opinion, the problem is, the black money holders are worried about the money earned through corruption but on the other hand the common people are worried about the money earned through hard labor as they have to stand in queues for so long to withdraw money from atm's and that too in limited amount and the same situation is there at the banks for the exchange of currency notes. There are labourers who work on the daily basis that means they work for the whole day and at the end of the day, they get paid. Now getting paid for them have become difficult. Meanwhile, the black money holders having enough money to let their staffs or servants stand in the queues to withdraw money from them.

Apart from all these difficulties, the common people have hope for better future and that means a lot.

Demonetization was no doubt a very great initiative taken by our pm but it was not implemented the way it should have been. Its main aim was to curb the black money out of people's pocket. But most of the rich people were able to convert their illegal wealth into white money with the help of their links with the bank officials. Also, depositing some of their money in the bank a/c's of the middle class and lower class people and giving them their part after demonetization helped them further. It affected common people more as they had to stand in queue's to get their money exchanged. As soon as demonetization was implemented all the banks and Atm's went out of cash which made it even more difficult for the public.

So, I think it affected common people more than black money holders.

Hi, I m Vaishali.

I think that demonetization affect the poor more than the black money holders. That black money holders convert their block money into white by investing in different ways or by many wrong ways. They buy n different shares to invest their money but the common people have to face too much problem, they have stand in queue for changing their notes but no black money holders do that. Poor people who have no 100 or 10 or 20 rupees notes are not to buy anything n the shopkeeper also enhance their prblm by not helping them. In every field only the common people have to face. No black money holders are in the queue for their notes but common people do that. In my opinion, demonetization affect the common people more than the black money holders.

Thanking you all.

First of all, we have to thanks Modi Ji to banned 1000 and 500 Indian currency for stop the black money in the country once it has been done in 1946 and after that it was done by moraji desai to banned 10000 and 5000 Indian currency and now one of the biggest step by our honorable prime minster narrendra modi ji mostly people supported this decision and that is very appreciated and helpful to the government as I know that common people faced many problems during change notes and withdraw people should understand that if we stand in queue for railway tickets and movie tickets etc. Why we can not stand for stop black money in the country people must support to our government ever and it should be happening ever 5 to 10 years for grow economy of India and remove inflation.

Demonetization is a biggest change happened in this year. The idea for reducing the black money and terrorism is good and coming to the reality, it is not completely done. The recent analysis regarding demonetization issue, the world bank released the data which is almost 90% of the money is exchanges and the government has to invest a huge amount for printing Rs. 2000 notes which is more than the amount.

By this, common people suffers a lot in the ATM's and banks and many were died. They didn't have the enough change and money to buy the daily usage things. This issue affects a lot to the common people and small scale industries.

I conclude that, for a better change in our country we should accept such things for a bright future and development of the country.

Hi, this is Yash,

Demonetization is the most happening factor present in India. Our Indian government has finally made a cult decision by banning currency notes to reduce black money transactions. Maybe, it's a good thing to hear initially but later on, many problems faced by common people makes us think: Is the step taken by our government is good or bad? The higher and lower classes faced problems to some extent. But the middle-class people suffered a lot due to the limited exchange of money, insufficiency funds for daily expenses etc. Finally, the government had released a new 2000 rupees currency which has been never before. Thus, somehow common people's troubles come to an end and the upper classes people started facing difficulties with their black money.

Hello guys,

Demonetisation, the great initiative from our pm. However, it brings certain changes in the society such like it pulls the people to use cashless transaction, reduce the corruption to a certain extent even helped to increase the Indian economic growth but at the same time few percentage of Indian population suffered a lot due to sudden announcement of the change of currency. We all know that only 75% of Indians are literate and rest of the population faced a large extent of problems in the initial stage. But however to bring or to make any changes which is good for the country then each one has to take or to face unconditional situation or difficulties. But in long run, this demonetization will surely make a huge change in the life of common people.