686 petrol pumps starts dispensing cash against swiping of debit cards
The Public Sector Oil Companies namely Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited, in association with State Bank of India, have come forward to ease out 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. 1000 currency notes.
Senior officials of IOCL, BPCL and HPCL, had a meeting with Ms. Arundhati Bhattacharya, Chairman, State Bank of India, yesterday and it was decided that an amount up to Rs. 2000 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.
POS machines are the machines which are generally used for debit or credit card transactions.
It has been decided to start this facility at around 2500 petrol pumps spread across the country including rural areas, where SBI POS machines are provided. The Oil Industry is also in further discussions with SBI and other Banks to extend this facility to over 20,000 petrol pumps gradually.
"This facility will be available even after November 24, 2016. It may be noted that petrol pumps have been accepting currency notes of Rs. 500 and Rs. 1000 denominations and will continue to do so till November 24, 2016. There is no shortage of petroleum products at the petrol pumps and consumers can purchase them as per their needs," read a government statement.
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