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Group discussion Corruption Uprooted or just changing clothes! – HR interview questions with answers Part C
1.In my opinion banning of 500 and 1000 denomination note was actually a powerful decision because most of the black money flowing through our country was of 500 and 1000 denomination. The execution was a complete failure. There was no cash to exchange the 500 and 1000 notes. The middle and lower class people suffered a lot since they were unable to meet even there basic needs and hospital needs.
The banning of notes was a shocking news only for middle and lower class people. Most of the rich people had great connections, so they found it easy to change their money.
The greatest aim of this ban was to uproot corruption, but after 1 year of banning corruption remains the same. Fake notes are available.
So I must say that the idea was a great success but after its execution, it became just changing cloth.
2. Corruption in India is in active mode since its independence. It is like some kind of gift from British Empire to us. Corruption are of various types and among them, the most popular mode of corruption is money. Suppose I go to circle office for any office work and approach any official person. They won’t do until I drop some amount to their pocket. This is lower level of corruption where people deal in smaller denomination in general and higher denomination in particular. When we look corruptions such as passing a tender in someone’s favour, the officials see no limit and place a higher amount which are transacted in higher denomination. Among all the denominations, 500 & 1000 were the most prevailing ones. To cut the line of continuity of this money giving system, I think it is a good step from govt to demonetize those currencies.
3. In my point of view, all are correct but we are think in different sides of situation. The major of money come out from the corrupted people. But come out money directly not went there their own accounts in-between generated some mediator people they asked the corrupted people I change the black money to white money but what was use for me first you give me a some commision after I change the money black to White. This is one example of changed money black to white. There vary of techniques used the peoples changed of the money. I requesting one thing of govt of India this process have to take again again for atleast 2 years once time.
4. In my opinion, Demonetization is like cloth changes. Many poor citizens faced problem in Demonetization, they stood in line hole day but at last bank employee announced that there is no cash available for today.
After that, all corrupt person changes his notes by setting to the bank manager.
At the time there is no effect in social all corrupt person still stole the many and purchase the plat and building.
So Demonetization is like cloth changing.
5. I think demonetization was a 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 the pocket of rich people and break the parallel economy. It has helped to a great extent as news of currency being dumped into the river and being put on fire were heard. But I think the majority of rich people were able to convert their illegal wealth into white money through their links with the bank officials. Also depositing 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.
One thing which could have been done better is maintaining a proper stock of new currency notes. As soon as the concept was implemented, banks and ATM’S went out of cash due to which people had to suffer a lot.
In our country, the problem is that everyone is of the opinion that our political and economic system is corrupt but when it comes to changing it but showing a little patience and support no one comes forward. Everyone was just complaining that they had to stand in question to get their money exchanged instead of showing some patience and feeling that they are contributing on their part to overcome corruption.
6. I think demonetization is a good step and it is the first step taken by our great PM to avoid corruption. Though we cannot say that black money is completely gone we can say that it is reduced and lots of people are paying now taxes properly. And the people who suffered lot are the middle class and low class because it has become very difficult for them when they first heard the news. We as a citizen though struggled hard to avoid corruption we must accept it and do the things in a right and proper manner. We should not wait for a change to come instead we have to start the change with yourself. This as a citizen of India we have to do it for the development of our country.
7. I am Prashant, and my opinion is that yes it is necessary to make some changes in an economic system. But before taking any serious action the government should sure that the medium class people will not get affected a lot. Because in an Indian economy the medium class people plays a very imp role. So, firstly make fully aware of them and then implement on that. Then it will be more efficient.
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Palani Jawahar said: (Dec 26, 2017)
I think a ban of 500, 1000 Rs notes is a good action for reducing the corruption which was taken by our PM.
But due to some problems occurred in the execution of the action many of the middle class and poor people are the first affected one. Also, yet now there is no changes were made due to this action.
8. I Don’t think so because we all have seen that 99% of old 500&1000 notes were deposited to banks. And if they all were submitted then where is the Black Money? Actually, this money was given to the middle class or lower class families to deposit to there a/c and after the end of Demonetization, it was taken back in any form after giving them their part.
9. In my opinion, demonitization is the first step to avoid corruption. But I agree that the middle class and low class peoples affected a lot by this. Corruption could not be cleared fully by this technique. But it worked a little bit by saying that lots of money thrown in to the river and somewhere fired. All belonged to the rich people who were not paying their tax correctly. They were not legal money. They were stunned after hearing that news. Demonitization created a good impact on economy. Every citizen should accept this to build a better future. And I accept that behind this lots of difficulties are there. But as a citizen we should support this. And finally we have to support all the strategies for anticorruption.
10. I believe demonetization will not affect the side-effect that is susceptible to the Indian economy, the Indian government should work toward the progress of poor people who are dying starving and each government comes with the motto to recover the amount of money they put on the slab. 500-1000 notes were not the reason behind corruption but the dark side of our political system is politicians who are playing with the emotion and expectations of the people. Demonetisation can’t control corruption.
11. Demonetization is a good step. I know low class and middle-class people suffered allot. But after this step, lots of money is gathered in the account. And properly taxes are paid to the government. That money is also used in the development of our country. We have to accept this change for our better condition and our nation too.
12. Good day, According to me, Banning of 500 and 1000 is good move to avoid corruption. Everything cannot be controlled within a short period. Corruption needs to avoided, so we cannot able to destroy it completely. We have to process it and destroy it by step by step. This banning of 500 and 1000 notes is one of the step to avoid corruption. I Accept many people suffered a lot by this action. First of all, everyone understands this, No pain no gain. We have to suffer a little to avoid some portion of corruption. Rich people are not suffered by this, I accept. But everyone must know how many currency notes are thrown in the dustbin and in the street. This money belongs to rich people. This is a just a warning to them, to pay their taxes correctly. Switching over to new note is also needed. We have to keep using our old 500 and 1000 notes for past 10 years. So it is time to change it. Change must come from us. If we behave and act in a right way. Everything will be right. So, conclude by saying that no pain no gain. We sacrifice something to achieve something. Thank you.
13. There was control over corruption and funding of Kashmiri terrorists for an only short period of time after the demonetization. But if we talk about the present situation after 1 year of demonstration it is same as before demonetization. So for me, it is like changing clothes.
14. In my point of view, demonetization is the use full think but the way it introduces is wrong. By introducing demonetization the black money will come out its right. But black money didn’t come out whereas it converted into white money by a link directly with the banks. And the middle class are suffering a lot they even don’t know about the demonetization people who know about it in middle class also suffering by standing in front of the banks to exchange the notes of 500, 1000. Demonetisation is for politicians and the big person so can easily convert their black money into white. So what I want to say is government should implement it in the correct way so that the black money will come out and the middle-class people will also be not suffer.
15. So guys I think to fight against terrorism is more important then fight against corruption because I think all are aware that how the Kashmiri terrorist are giving the money to the Kashmiri citizens to throw the stones on the militants and they had the huge Indian currency and they were also buying the weapons from this currency so as our PM changed the Indian currency. That terrorist doesn’t have the money to fight for Kashmir.
16. It is just 10 or 20 percent of the total money what we have in our economy as a printed note. By banning notes, its true that some of the notes obviously obtained by blackers are destroyed, but its also true that the huge black money holders know thousand one routes to obtain black money, and its just a fraction of percentage of the total black money which is in the country, and rest is at Swiss bank, so it is just a dress change and nothing else.
17. I agree with my all friends but here I would like to mention that:-.
1. Do we ask something to the government before implementation anything or government do the same?
2. Are people of India is ready for this change from villages, metropolitan and city?
We know that every reform has its limited benefits and more losses/disadvantages. Demonetization also is like that.
How can a government come with a reform without conveying any dialogue to the nation before implementation on it. It is like that a king of princely state ignore the suggestions of the people.
It has been 38 years when the last demonetization happen. From last 38 years, we are running the country with the corruption and black money. I know it uprooted the corruption from some areas of Indian states. But know the condition is same in some areas.
We have the shortages of the printing machine of notes. We have the shortages of running tools which can fill the gap between inconvenience and difficulties.
We know there is a huge gap between India and Bharat i.e. city and villages there is no such type of facilities as we are getting in city and metropolitan areas. We need to aware the people about that and its merit and demerit.
Note changing is not a medium to stop the all eligible things. Here, we need to change the current system and old constitution.
We need to change the education system, government machinery and corruption in government organizations. We need to change the ethical system that we are currently running now.
I hope we could change it then things can change automatically.
18. From my point of view, demonetization mainly affects the poor people, because rich people easily exchange the new currency notes within a week by giving a extra money to the bank officials. But some of the poor people who lives in village side they even don’t know about that demonetization because on before day only our pm announce this statement, so it will not reach to many of the poor peoples. Demonetization does not destroy the entire black money holders, it suffers only the middle-class people.
19. Plan is good but the way of implementation very worst. In this changes, mostly affected for middle class and poor peoples, Its benefit for politicians into change our block money.
20. The main purpose of government behind demonatization were to curb the black money, terrorist funding and to break the parallel economy which were running with the replica or the fake currency in 500 and 1000 rs note.
Along with this the government also wanted to catalyse the digital India initiative by increasing online transaction and cashless economy.
But post demonatization all this dream get in vain because atms were not calibrated and banks were running out of cash which cause people ti standing in long queue, job losses of daily wage workers, poor peoples migrating to their home town. Notes thown in rivers, ATM running out of cash etc.
So this proved to be very disastrous for the economy of India with losses of jobs and shutting down of small scale and cottage industries.
Yes Police recovered some money but according to RBI 99 % of the demonatization currency (ie. 15. 36 lakh crore out of 15. 44 lakh crore) went back to the bank then what was the need of demonatization. And cost of printing notes were different.
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