Select Petrol Pumps to Dispense Cash up to Rs 2,000Money

Select Petrol Pumps to Dispense Cash up to Rs 2,000

Finally some relief for millions queuing up outsides banks and ATMs for cash. Now, select petrol pumps across the country will start dispensing a sum of Rs 2,000 cash per person per day. The facility will initially be available at 2,500 petrol pumps across the country that have card swipe machines from State Bank of India. Over the next three days, the facility will be extended to 20,000 outlets that have card swipe machines from HDFC Bank, Citibank and ICICI Bank.
The measure comes following the demonetisation of 500 and 1,000 rupee notes by the government on November 8 that has triggered long queues at banks and ATMs across the country to deposit or exchange the scrapped notes and withdraw cash. The move, initially suggested by the All India Petroleum Dealers Association, is part of the Centre's efforts to ease the rush for new currency notes at bank branches and functional ATMs following withdrawal of Rs 500 and Rs 1,000 bills.
The facility will start on Friday and will be available till the situation improves, sources said. Petrol pumps are already accepting Rs 500 and Rs 1,000 notes and will continue to do so till November 24. The government also appealed to people to buy fuel at petrol pumps by using cashless transactions, debit/credit cards and mobile wallets, among other options.

(Image Credit: Indiatimes)
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