Abolish high denomination currency notes- baba Ram Dev

These are just means and how far that's going to help in eliminating corruption I don't know! Our corrupt people are very creative! The other day I have heard that Burrah Bazar the wholesale market of eastern India,businessmen accept and exchange fake notes to carry on their trade!

I think Bribe can be taken or given through any other mode like online transfer etc..then how come this suggested method can be helpful..However to some extent this can be helpful...
But as said by chinmoy they are more creative ways.

Rajani K wrote:
[quote]I think Bribe can be taken or given through any other mode like online transfer etc..then how come this suggested method can be helpful..However to some extent this can be helpful...
But as said by chinmoy they are more creative ways.[/quote]

The modus operandi of the underhand dealings is to avoid banking system as there remains some evidence of the transactions. cash transactions leave no evidence. On line transfer is reflected in bank account and hence not suitable. One person told me yesterday, that gold may be given in bribery. But gold may not be so convenient and also there are restriction on gold movements.
The real problem is that we need cash for genuine transactions also. The banking system is not so developed in villages and the big industrial establishments need money for paying to their workers. Abolition of high denomination currency will also cause lot of inconvenience for genuine transactions also.

chinmoymukherjee wrote:
[quote]These are just means and how far that's going to help in eliminating corruption I don't know! Our corrupt people are very creative! The other day I have heard that Burrah Bazar the wholesale market of eastern India,businessmen accept and exchange fake notes to carry on their trade![/quote]

Chinmoy- Fake notes also work as long high denomination currency notes are valid. If these are withdrawn, fake currency notes will also have to be of smaller denomination. This will be inconvenient to Burrah Bazar traders.
The real problem is that owing to rising prices, we need high value currency notes for our genuine transactions also. Unless banking system is developed more and most people have banking habit, we cannot avoid high denomination notes. The suggestion of baba Ram Dev will kill black money as well as white money.

You are right,Gulshan! As long as the people in the establishment actively promotes growth of balck money.This kind of solution may prove to be catchy but superficial!

After Gulshan's statement i think it is really hard to implement..

The government has to be honest in this regard,as the source of black money generation lies with it!

But whom to believe for the effective implementation of the idea? :( :( .We have all corrupted politicians around us.

That's precisely the problem! Who is going to bell the cat!

I am advocate of his view point and believe me this dimple step will solve many socio ecconomic problems.