To tackle cash chaos post demonetisation move, Government on Thursday took another step to ease cash withdrawal options of cash dispensing by swiping debit and credit cards at 2,500 petrol pumps.
According to a tweet by Doordarshan, cash will be dispensed at 2500 petrol pumps by swiping of debit/credit card via (point of sale) POS machine. The facility can be availed at around 2500 petrol pumps across the country including rural areas, where SBI POS machines are available. The initial limit has been fixed at Rs. 2000 per person per day in cash. The facility of dispensing cash at petrol pumps will later be extended to over 20,000 petrol pumps.
Govt: Cash to be dispensed at 2500 petrol pumps; Cash to be given by swiping of debit/credit card via POS machine pic.twitter.com/Rw5ccwK9K0— Doordarshan News (@DDNewsLive) November 17, 2016
Rs. 2000 per person per day in cash can be dispensed.Facility to be extended to over 20,000 petrol pumps— Doordarshan News (@DDNewsLive) November 17, 2016
State Bank of India (SBI) has joined hands with public sector oil companies namely Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited to dispense cash. According to sources, earlier on Thrusday, SBI chairperson Arundhati had a meeting with top officials of IOCL, BPCL and HPCL, to discuss on the issue.
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 firms are 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.