Last month on November 8 president Modi took a shocking decision to ban 500 and 1000 notes. The decision is to kill the corruption disease in India. Effecting from Midnight currency has been banned and no longer accetable.
Was the decision good?
I have recived few mails from my readers and friends regarding the issue and invited me to write this post.
Yes, Banning 500 and 1000 notes is a good step to fight against corruption. But is this make a sense, will it help for economic India. My answer is No, because banning 500 and 1000 notes will not eradicate corruption. Most of the corruption in India has been saved in digitally, means in banks from overseas. Large amount of black money is converted in other currency and deposited. Banning notes will effect only those who have saved money physically, eg for govertment sector people, small business men and other.
Huge black money is still in banks.
Funny thing is this decision made many poor people suffer ..
Comment Guys below and justify your answer.