Demonetisation: Cash against debit swipe takes off at 700 petrol pumps

The facility to provide Rs 2,000 per day per card will be extended to Rs 2,500 petrol pumps by this week end and will in due course be available at 20,000 outlets across the country.

By: PTI | New Delhi | Published:November 18, 2016 7:49 pm
demonetisation, currency ban, 500 rs note, 1000 rs note, black money, narendra modi, modi, pm modi, petrol pump, petrol pump limit, cash withdrawl limit, india news, indian express, Photo for representational purpose. (PTI Photo)

Nearly 700 petrol pumps across the country today started dispensing cash through debit card swipe in a bid to ease the cash crunch in the economy
following the government’s decision to withdraw 1,000 and 500 rupee notes. The facility to provide Rs 2,000 per day per card will be extended to Rs 2,500 petrol pumps by this week end and will in due course be available at 20,000 outlets across the country. The government had yesterday decided to allow up to Rs 2,000 per day per person to be dispensed against swiping of debit cards at select petrol pumps where POS machines of SBI are already available.

Watch What Else Is Making News

POS machines are the machines which are generally used for debit or credit card transactions. Petrol pumps have been accepting old and now-defunct
currency notes of 500 and 1,000 denominations and the same will continue till November 24, 2016. There is no shortage of petroleum products at the petrol pumps and consumers can purchase them as per their needs, an official statement said.

As of 1600 hours today, “cash dispensing facility had become operational at 686 retail outlets”, it said. Of these, 350 outlets are of Indian Oil Corporation (IOC), 266 Bharat Petroleum Corp Ltd (BPCL) and 70 Hindustan Petroleum Corp Ltd (HPCL). “The public sector oil companies, namely IOC, BPCL and HPCL, in association with State Bank of India, have come forward to ease some of the challenges being faced by the common public regarding availability of currencies for day to day transactions, post demonetization of Rs 500 and Rs 1,000 currency notes,” the statement said.

Senior officials of the three companies had a meeting with SBI Chairman Arundhati Bhattacharya yesterday where it was decided that an amount of up to Rs 2,000 per day per person in cash can be dispensed against swiping of debit card from select petrol pumps where POS machines of SBI are already available.

“It has been decided to start this facility at around 2,500 petrol pumps spread across the country, including rural areas, where SBI POS machines are provided,” the statement said. The oil firms are in discussions with SBI and other banks to extend this facility to over 20,000 petrol pumps gradually.
“Consumers are also advised to use cashless transactions — credit/debit cards, mobile wallets, loyalty programmes etc — for purchase of fuel so that there is no difficulty to consumers which is mainly associated with cash transactions,” the statement said.

For all the latest India News, download Indian Express App now

  1. D
    dd
    Nov 18, 2016 at 3:40 pm
    Valid move...Congratulations!!!!!
    Reply
    1. M
      Mayur Panghaal
      Nov 18, 2016 at 3:39 pm
      Charlie chaplin is running the country
      Reply
      1. M
        Mayur Panghaal
        Nov 18, 2016 at 3:39 pm
        So now laboureres and poor ppl will have to trudge to their nearest petrol pump whuch will be miles away
        Reply
        1. M
          minutha karkera
          Nov 18, 2016 at 4:09 pm
          This terminology suits your boss perfectly because he is not chief minister he is a joker and you party is full of jokers durkards etc etc
          Reply
          1. M
            Murthy Suppusamy
            Nov 18, 2016 at 9:34 pm
            Why not the Govt promote people to use cheque leafs? For few thousands of rupees, people can quickly start using cheque leafs immediately. And also Govt should protect the cheque leaf depositers over the next 40 days for upto Rs 50,000 per person, who has PAN card or Aadhar Card for the insufficient funds from cheque issuers. Also ask the people to use Electronic fund transfers. I am not seeing many such promotions are reaching out to people!.
            Reply
            1. R
              rajan
              Nov 18, 2016 at 10:21 pm
              Also aam admi doesn't have account in foreign banks, only the monied cronies of the parties.
              Reply
              1. R
                rajan
                Nov 18, 2016 at 11:27 pm
                Forget the poor villagers, what is the no. of districts, cities, towns in India? What is their expanse? 686 petrol pumps for entire country! Even the proposed 2500 is too inadequate a number. Less than 50% ATMs are dispensing cash, that too only for a few hours in a day. If one is lucky enough to locate an active ATM, it is dispensing soiled/mutilated currency which is being refused by the vendors. So what do you do? Stand again in long queues to return this useless money to Banks! What a way of keeping people engaged in this exercise of locating such ATMs, POS petrol pumps and then the banks
                Reply
                1. R
                  rajan
                  Nov 18, 2016 at 10:15 pm
                  Why not Essar and Reliance petrol pumps? Can someone throw light?
                  Reply
                  1. B
                    B
                    Nov 18, 2016 at 3:43 pm
                    This is an excellent facility, quite prevalent in the USA and other countries for a long time, in supermarkets. Very easy and simple. This government is not asleep.
                    Reply
                    1. V
                      Venkat Narayan
                      Nov 19, 2016 at 12:52 pm
                      Not a single vendor I have encountered is refusing soiled notes. They are accepting even torn notes which they would normally not accept. And those buying with 2000 rupee notes are gladly accepting the soiled 100 rupee notes as change. So stop lying and misleading.Of course less than 50% ATMs are dispensing cash currently. It was announced that it would take 2 weeks for ATMs to be recalibrated. So nothing new in what you are saying. And finally, the 2500 petrol pumps is the target for this weekend (i.e. by Sunday). The eventual target is 20,000 ATMs which is commendable. If it is implemented, it will ease the problem to a small extent with several lakh people able to withdraw 2000 per day. So definitely there is nothing in this to scoff at.
                      Reply
                      1. Load More Comments