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 )