Why did INDIA Ban Currency | Is India following America? | 500 Rs | 1000 Rs | Why 2000 rupee note?

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• published: 09 Nov 2016
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Follow us on Facebook https://www.facebook.com/TheStrayGarden Do you know that America also banned the high denomination notes in America in year 1969? Year 1969 America banned High value notes to stop corruption. America became the very corrupt country. The criminals, mafia dons and white collar criminals took full control of American economy. That time American banking system was not developed. All the transactions happened in Cash using notes of $ 500, 1000, 5000, 10000 including one lakh dollar note. American population citizens were suffering because of corruption of politicians and mafia and white collar criminals. In this situation President Richard Nixon took the bold step. He did what no one expected. In year 1969 President Nixon withdrew all the notes of higher than 100$ It was a great blow to corrupt people; this started the development of American banking system also. American people found it very difficult to shift suddenly but to get something one has to suffer the pain also. White collar criminals and politicians found it very difficult to accept bribes and do the corruption this it helped to reduce the corruption in America also. As the notes of higher denomination were banned, baking system started to develop very fast in USA. Now India banned the Notes of 500 and 1000 Rupees, common citizens of India will face the problems for few months, but they will get used to banking system. Government will be forced to develop banking system in India. Always remember purpose of high denomination notes is nothing but to develop black economy. To take and give bribe, to do corruption. Do you want Corrupt Nation or Honest Nation? What America can do it why other countries can not do it? Ban on 500 and 1000 notes in India. may be a huge step by Indian Government towards Honest India. Today why no one is interested in the development of banking system of a Nation? The reason is easy access to high denomination notes. Once a country will ban these notes village people will also demand open the banks in their area. All the banks will see the growth opportunities in village and they will start to open banks in villages. If you will ask any economist if he will tell you that good country is one where all the transactions happen through banking system. Keeping poor people out of banking system is not good sign for any country. I think that presence of high value notes in any country is the sign of corrupt country and corrupt culture and corrupt politicians. India has made a strict decision of banning regular 500 and 1000 rupee notes from circulation which is a result of finding 1.25 lakh crore black money. Indian government believes that by taking this decision they can hit black markets down and you would be least circulation of black money and fraud would not take place. And Indian government Announces 2000 Rupee Note Circulation Instead of 500 and 1000 Rupee notes Reserve bank of India will be issuing 2000 rupee notes which will be a regular currency circulation over India. All those people who are worrying what to do with the stacks of 500 and 1000 notes, need not to glaze and run punching on the government. Because they have released a statement saying that all the remaining 500 and 1000 rupees notes are to be deposited at neat by Post Offices Well Indian finance is sure going to face chaos by the demoing plans of Indian Government. The Indian Prime Minister Narendra Modi Speech as follows, • governance and progress for all is our motto. Indian Government focused on empowerment of the poor. A series of schemes Inidan Government have introduced all aim at this. This is a government for farmers. • Corruption and black money are diseases rooted in this country, they are obstacles to India’s success. • Indians are among fastest-growing economies, but Inidans also rank so high in global corruption rankings. • Terror strikes at the innocent. Who funds these terrorists? Across the border, Indian enemy uses fake currency and dodgy funds to sponsor terror – this has been proven repeatedly. • Terror strikes at the innocent. Who funds these terrorists? Across the border, Indian enemy uses fake currency and dodgy funds to sponsor terror – this has been proven repeatedly. • When you elected this government in 2014, world was talking about India being shaky economically. But India is now an economic star – this is what International Monetary Fund (United Nations) and World Bank are saying.