G GAZETTE | Page 13

“ India’ s Great Bank Note Switch Appears To Be Working – $ 30 Billion In Rs Deposited In Banks. obvious chaos, but so far at least it looks as if it is working. rather well done, a clever plan.”-Fobes

“ It is a bold move. Digitising India, and making it work well, truly will have a beneficial effect,”-Sundar Pichai CEO Google

Demonetizing is depriving of value for official use. Our Prime Minister Mr. Narendra Modi has made a revolutionary call of demonetization of Rs 500 and Rs 1000 on Nov 8th 2016. By this, black money stored in the form of Rs 500 and Rs 1000 notes will be taken out of our system. This has lead to temporary turmoil in the country. Mr. Modi has focused on the menace of black money and has come out with something that would have a deep and long lasting impact on the country’ s economy. This is the best opportunity to catch hold of people who have unaccounted money stashed in cash in denominations of demonetized currency. However the common man has suffered for a while in order to exchange money. But, because this move will go a long way to help curb the overwhelming influence of black money in several sectors of economy, enduring the pain for a while has not been taken as a big deal as future of the country is going to benefit out of it. This move will help bring down inflation, it is very helpful to banks as they will step into cashless chamber, interest rates will also go down. Hence I support that demonetization is a boon to the country as it contributes to its welfare.-Priya Rajan CSE-B( 2 / 4)

The demonetization of Rs. 500 and Rs. 1000 notes of Indian currency is projected to be the solution of the increasing black money in India among the elite. India is a country of masses, 70 % of Indians belong to the lower middle class section of the societies as shopkeepers, vendors and farmers. The amount of manpower wasted in waiting in lines for exchange of currency is humongous. I can’ t seem to imagine how our economy will crash. Of course, prices are down, but that’ s because the market has slowed down. This plan has many potholes-the difference in the size of the ATM slot and new note, no prior printing of new notes, etc. If the government truly wanted progression of India, Rs. 3600, 000, 00, 00,000( 36 thousand crore) wouldn’ t have been sanctioned for building historic memorials and used for the betterment of the society. What happened to the list of black money holders from Swiss Banks promised to be exposed and punished? Demonetization is a bane according to me, because it has failed to affect the people it should’ ve, has given a legal way to convert black money into white for the bigwigs while severely disrupting the lives of the masses.-Tazbia Fatima IT-B( 2 / 4)

9 out of 10 people around us must have debated about the drastic move of our Government called demonetization. It was on 8th November, when Prime Minister of India-Narendra Modi declared 500 and 1000 rupee notes ceased. The announcement was a shock to the country, there was no warning, no run-ups to announcement. India’ s most popular currency denominations was removed from circulation, everyone became dependent on their debit and credit cards. After couple of days, banks started issuing new 2000 and 500 rupee notes.

The step was taken confidentially by the Government to reduce the corruption in the nation and also to reduce the usage of these notes by terrorists.“ The social impact of the demonetization exercise has been earth shattering for common man on the street” said, MonishankarPrasad, the New Delhi based author. One of the problems I faced was scarcity of ATM’ s in rural areas and also studies reveal that nearly half the country’ s population is without a bank account. Ban of these notes may likely affect our day to day life, but the exchange of notes will put a full stop to corruption.-Krishna Sneha

CSE-C( 3 / 4)