Economy

Select Petrol Pumps Can Be Used to Draw Rs 2,000 Per Day Through Debit, Credit Cards

Representative image. Credit: Reuters

Representative image. Credit: Reuters

In an attempt to reduce the queues outside ATMs and banks, people with debit or credit cards can now withdraw Rs 2,000 in cash at petrol pumps run by public sector oil companies, reports said. The facility is available at 2,500 petrol pumps across the country that have State Bank of India (SBI) card swipe machines, Economic Times reported.

“It has been 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,” Deccan Chronicle quoted an official as saying.

Over the next three days, this will be extended to 20,000 petrol outlets that have swipe machines from HDFC, Citibank and ICICI.

According to NDTV, this move came after a meeting between officials of public sector oil companies and the head of SBI.

There are fears that this move will lead to crowds at petrol pumps and inconvenience those who want to fill gas, the Economic Times report said.

This move was initially suggested by the All India Petroleum Dealers Association (AIPDA). “We are very happy that the government has accepted our proposal. We wrote to the prime minister on November 14 to apprise him of the situation at petrol pumps and our willingness to help mitigate people’s cash woes. We have never shied away from serving any national cause. We are happy to assist the government in its fight against black money and terror funding,” AIPDA president Ajay Bansal told Times of India.

“Our pump attendants are as good as, if not better than, bank tellers when it comes to handling cash. In banks they have to make several entries.At petrol pumps, we will swipe and once the transaction is cleared, hand over the money .So it will be quicker and people can come to get cash even after work,” he added.