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Will shunning down 500 & 1000 notes affect govt job recruitment process?

PM Modi’s overnight revolutionary decision has stirred turbulence in every nook and corner of the country. A grand welcome to this artful move, decisive motive and resolute effort of the PM!

Nov 9, 2016 15:15 IST
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PM Modi’s overnight revolutionary decision has stirred turbulence in every nook and corner of the country. A grand welcome to this artful move, decisive motive and resolute effort of the PM!

How will the effort to curb black money and counterfeit currency notes, affect the government job sector of the country? How will it benefit govt job aspirants? Will there be any adverse effect?

Onset of Cashless Economy, End of ‘Diseased Cash’

A commendable effort for uprooting the deeply set corruption! A move to begin the era of the cashless economy! An attempt to get hold of and get rid off and get aware of the ‘black’ holdings!

An immediate not-so-well impact will be there for sometime (or for few days!). The ban will affect every level of the society: higher, lower and mediocre. But forecasting the long-run implications can shed light on the ‘invisible’ effects of this move.

Though it may seem distantly apart, but the correlation will baffle all the job aspirants. It isn’t a simple game changing move; instead, it has a greater meaning hidden in it. For all the prospective job holders and current aspirants, here’s a brief analysis.

As per the recent report obtained from trusted sources, it will cost Rs 12000 crore to RBI for replacing all the 500 and 1000 notes in the country. As per an estimation, a total of 1567 crores of Rs 500 notes and 632 crores of Rs 1000 notes were in circulation till the ban was imposed on them.

Job scams will come to a halt

Though not mentioned openly, but one of the worst hit sectors will be that run by govt job scammers. This cash-based business will suffer a lot and as is anticipated, this will pave way for a clear transparent and competitive environment for aspirants.

Mandatory Online recruitment process

Many government bodies (army battalions, many PSUs, State undertaking enterprises) till date also follow the primitive recruitment procedure, where candidates are required to submit the application fee offline through banks or at the government treasury.

Cashless transaction has found its own recognition! Online transaction being easily traceable and recordable will definitely lure government bodies to incorporate it for incurring fees and deposits.

Apart from transparency, it will catalyse the entire process for being faster and smoother.

Application Fee may remain unchanged, negligible hike may be observed

Though only UPSC has notified of it Click here to read the complete story, it is expected that all other government bodies will not announce a hike in the application fee. If also announced, it will have the same reason as the Commission.

If we turn back to the previous issues raised against reservation, we can see that government sectors levy fees on the basis of reservation of categories. Secondly, if we take the trend of a decade into consideration, we can see a shift in the recruitment process from plain paper format to online.

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