Twitter
Advertisement

Mixed reactions to currency ban

Debate on whether pm’s move to withdraw Rs 500 & 1,000 notes to curb corruption rages on even after a year

Latest News
article-main
Deposited demonetised currency has left the banks with trillions of rupees in surplus funds, leading to an overall decline in money market rates
FacebookTwitterWhatsappLinkedin

Note-ban has not hit the practice of corruption at all. The level has gone back to what it was before the announcement. People have started taking bribes again in cash as the supply has increased to normal level. However, a generation of black money has been reduced, but no major impact can be seen.
—Anil Agrawal, a Jaipur-based-businessman

It brought some initial inconvenience which cannot be ignored, especially to daily wage earners but it must be admitted that the government has taken a bold and a necessary step to bring about a reform and it must be given time to have its effect. I think we should be ready to make some contributions as well.
—Samhita Pincha, headmistress of a Kolkata school

I don’t think it has helped in curbing corruption. Instead, it has promoted corruption. Actually, demonetization helped big corporates and bankers to accumulate wealth. People at the grass-root level are suffering. Plus, the order that all money should be deposited in the banks has hit the people in rural, deep rural, tribal and mountainous areas. They do not have easy access to banks. 
—Dr Ghulam Rasool, RTI activist in New Delhi

Note-ban has definitely been a step towards a cashless economy and it will have its long term effect. But to bring down corruption, strong and fast legal steps against corrupt politicians and bureaucrats should be taken. If they get punishment such as lifetime ban from politics, only then corruption can come under control
—Sushil Mohta, Director of South City Projects, Kolkata

Before note-ban money was directly exchanged but now the format has changed. It has been replaced by gold, land and it has been quite rampant. It has severely impacted small businesses like ours. It is a complete failure. The government has to urgently take some corrective steps.
—Sachin Katakdhond, Navi Mumbai-based entrepreneur

Corruption is a major issue for the nation. The present government, by scrapping Rs 500 and 1,000 notes, did attempt to address the problem. We were hopeful that things will change, but it is disappointing that the practice still exists. It is not just the government employees, corruption is prevalent in the private sector as well. It is easy to blame others, but as it is said, charity begins from home. The fight needs to begin at an individual level.
—Dhaval Jain, a resident of Ahmedabad

Monetary corruption is nothing but a by-product of monetary transactions and demonetization has virtually stopped all monetary transactions. Hence, all monetary corruption has ended effectively. Note-ban has also adversely affected the textile industry in the country.
—Sayed Kashif, a resident of Bhiwandi, Mumbai

I don’t think demonetization has hit corruption. It was a useless exercise. Our tourism sector was badly hit. I remember the tourists who were staying in Kashmir that time had faced so many problems. Ninety per cent tourism industry runs on cash. In the far-flung areas there are neither ATMs nor POP machines. 
—Adil Khan, a hotelier in Jammu and Kashmir

Note-ban had only caused hardship to the common man. In no way it has reduced corruption. Anyone visiting the government offices will know it for sure. To curb corruption all the state government must first of all pass the right to Services Act to hold officials accountable for the inaction and computerise all the services to ensure transparency. The government must take steps to implement the Lokpal Bill.
—V Gopalakrishnan, an RTI activist from Chennai

The only change that demonetization seems to have brought in terms of corruption is the fact that earlier old notes were used and now new notes are taken as bribes. For a common man, nothing has changed post demonetization and I do not think that it has hit corruption in any way, except for the initial few months when every one was scared as the government kept talking about rooting out corruption. Ask anyone, they are still paying bribes to get any work done.
—Tejas Shah, resident of Kandivali, Mumbai

demonetization had its effect on corruption for a very short period. As per reports, most of the black money circulating in the market has reached the banks or foreign shores. There is no visible reduction in corruption in any sector.
—Shahina Khan, Patna-based-educationist

We have still not recovered from it’s effect, the business has suffered heavy losses. I don’t think this was the way to end corruption, as those who are corrupt have found new means to make money.
—Ankush Dewesar, a photographer in New Delhi

The impact might have been at the big businesses, but no change can be seen at the ground level. There was a problem of currency during the first month. However, those who were taking Rs 1,000 as bribe earlier, are now taking Rs 2,000. However, people are less interested in cash now. The parallel economy is slowly contracting.
—Surendra Shah, Chartered Accountant, Jaipur

Black money was converted into white by depositing it in banks. Corruption has not stopped. In fact, in areas like Dharavi, people are paying as high as Rs 50,000 to get a new ration card, all in the vain hope that this will make them eligible for housing under the state government’s Dharavi makeover project
—Gorakh Avhad, activist, Mumbai

Note-ban has hit our market badly. It has hardly had any impact on corruption. I can say corruption has increased rather than decreasing. Corruption is everywhere in Kashmir. There is no department or section where corruption has stopped. It seems as if corruption has become legal. 
—Bashir Ahmad Bashir, fruit dealer in J&K

People who are assigned to do the work legitimately do not want to work and still charge money for that. Corruption still exists. Corruption is a problem of the human mind and cannot be dealt with machines only. Human mind has to be changed but the whole system from top to bottom is still dependent on money gained through corrupt means. demonetization has failed to meet any of its objectives, especially recovery of black money. 
—Dr Sucha Singh Gill, former director, Centre for Research in Rural and Industrial Development (CRRID), Chandigarh

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement