As we all know that Biggest root-cause for most of the problems in our country is Corruption. In all formats of illegal transactions involving black money, everyone knows that people use only Rs. 500 and 1000 notes. Hundreds of anti-corruption raids can be referred where recovered cash is always in the bundles of 500 or 1000.

What will happen If we abolish Rs. 500 and 1000 notes ,

1. First thing that will immediately stop is - Hoarding of black money, as people holding such black money will be forced to put that into the system or change it into other denominations,Thus huge amount of money will come back into the economy.
2. Second thing that will change is Generation of black money will stop or decrease to a large extent. As one can not do large transactions in smaller notes and using Rs.50 or 100 notes in all dubious real estate and gold assets will become almost impossible.
3. Third , National Security will be better as financing terror through smuggling currency and money laundering can be controlled. Like Europe recently decided to abolish Euro 500 note due to its illicit use.
4. Buying votes in election will become difficult. As well all know that currency circulation reaches its peak during big elections and local politicians at many places try to buy Votes putting Democracy at stake. This will become difficult and we will see much fair elections then what we see now.

My dear fellow citizens , we pay tax to make our country a better place and that money gets through different channels and finally becomes black due to nexus of few corrupt politicians,govt officials and business men - but now is the time to suggest corrective actions also to the government and force them to think about right steps for the nation.