If anyone did not understand why ₹ 2000 notes came instead of ₹ 1000 and why new ₹ 500 notes delayed, search for 'Mehul Shah CA open letter' and understand how 'peak theory' fails with this new implementation.
or Read this...
I will not say corruption will stop in India from 2017, but atleast all corrupt money existing till now will either come to bank or burnt. Govt has anyway printed equivalent new currency.
So, if you could exchange through bank or RBI, you get back your cash, else it is already with govt and they can use it in 2017 budget.
A businessman or a common private employee can deposit cash, pay tax and get free.
Only a corrupt govt employee or politician cannot deposit cash as their career will also be finished with this.
Corruption will restart but at slower process and lesser rates. There will be constant fear in back of their mind that again these new notes may be demonitized anytime in near future.
social media (not paid angrez media) will report first corruption in 2017 and that puts breaks on others.
First good thing to happen was immediate freeze of fake notes.
Stone pelters in kashmir were paid ₹ 500 for throwing each stone on police and ₹ 1000 if that stone actually hits a policeman.
WHAT A JOB !!
You maid works for 1 hr at each home and maybe on 5-6 homes gets paid about ₹ 10000 per month.
A daily labour at construction site gets ₹ 500 at end of full day labor.
All that stone pelting has gone now ! Did you hear any street violence news in past week in kashmir or any maoist firing ?
There is no 'JIHAD' for religion. Only MONEY MATTERS... you pay ₹ 500 and i throw stone in name of azaadi, jihaadi etc crap.
Why would a politician or a rich guy ever stand in line for ₹ 4000 currency exchange.
All their expenses (politician) paid by govt and for personal stuff, they can send domestic helpers to banks and get exchanged.
They can use debit/credit cards. They can manage few expenses based on goodwill and understanding with seller and repay after banks release bigger amounts over withdrawls.