Question

What is demonetization? Has demonetization really eradicated corruption in India?​

Answer 1

Explanation:

Demonetisation has a mixed effect on corruption. On one hand people with big stash of black money were caught off-guard and had huge losses where as bank officials charged flat 20%-50% for changing the black money.

Few other criminals (tax evaders) preserved their wealth by investing it into gold, silver and real state. While few small and medium enterprise owners who had people working for them, closed down their factories and sent all their employees to line up in front of banks to get old notes exchanged. ( Remember media showing huge crowd in front of banks? Those all were not common people most of them were the employees of these wealthy goons. This caused problems to common people).

In banks where officers were neck deep in corruption, clerk level employees (especially cashiers) suffered losses, they had to work late night (even upto 10 O’clock) and Over Time was calculated for only upto 5–7 PM, due to crowd and need to work quickly cashiers were more prone to make mistake and had financial loss due to error in calculation. Most frustrating thing is bank didn’t even had machine to count new notes, just imagine, counting thousands of notes from 9AM to 10PM. (13 hours daily for 2 whole month).

These are not my speculations, I’ve been a part of it and have observed all of it from close quarters. Demonitisation had marginal effect on corrupt goons and criminal but substantial effect on honest and hard-working people.

Corruption can never be eradicated by government efforts, or counter measures like demonetisation until every single citizen is not dedicated towards the cause. Demonetisatin would have had much larger impact only if these corrupt bank managers would have been dedicated towards their job. (as I said every citizen has to contribute, but they didn’t). Most painful of all they all got away with it.

Corruption is an English word for भ्रष्टाचार, which itself is made up of two words भ्रष्ट + आचरण. The two Hindi words individually means ‘corrupt or polluted’ , ‘behaviour’ respectively.

Corruption is not just limited to bribes, commissions and other illegal monetary transaction but it includes every little or big wrong things done daily though it doesn’t seem a big deal.

Answer 2

Demonetisation has a mixed effect on corruption. On one hand people with big stash of black money were caught off-guard and had huge losses where as bank officials charged flat 20%-50% for changing the black money.

Few other criminals (tax evaders) preserved their wealth by investing it into gold, silver and real state. While few small and medium enterprise owners who had people working for them, closed down their factories and sent all their employees to line up in front of banks to get old notes exchanged. ( Remember media showing huge crowd in front of banks? Those all were not common people most of them were the employees of these wealthy goons. This caused problems to common people).

In banks where officers were neck deep in corruption, clerk level employees (especially cashiers) suffered losses, they had to work late night (even upto 10 O’clock) and Over Time was calculated for only upto 5–7 PM, due to crowd and need to work quickly cashiers were more prone to make mistake and had financial loss due to error in calculation. Most frustrating thing is bank didn’t even had machine to count new notes, just imagine, counting thousands of notes from 9AM to 10PM. (13 hours daily for 2 whole month).

These are not my speculations, I’ve been a part of it and have observed all of it from close quarters. Demonitisation had marginal effect on corrupt goons and criminal but substantial effect on honest and hard-working people.

Corruption can never be eradicated by government efforts, or counter measures like demonetisation until every single citizen is not dedicated towards the cause. Demonetisatin would have had much larger impact only if these corrupt bank managers would have been dedicated towards their job. (as I said every citizen has to contribute, but they didn’t). Most painful of all they all got away with it.

Corruption is an English word for भ्रष्टाचार, which itself is made up of two words भ्रष्ट + आचरण. The two Hindi words individually means ‘corrupt or polluted’ , ‘behaviour’ respectively.

Corruption is not just limited to bribes, commissions and other illegal monetary transaction but it includes every little or big wrong things done daily though it doesn’t seem a big deal.