Friday, November 18th, 2016

Demonetisation: Soon you can withdraw cash from petrol pumps

Narada Desk | November 18, 2016 8:51 am Print
This facility will be available even after November 24, 2016

In a bid to tackle long queues of people turning up at banks and ATMs to exchange or deposit Rs 500 and Rs 1,000 banknotes that were withdrawn last week,  the government on Thursday said people can get cash at select petrol pumps with SBI machines by swiping their debit cards.

This facility will be available even after November 24, 2016. Petrol pumps have been accepting currency notes of Rs. 500 and Rs. 1,000 denominations and are allowed to do so till November 24, 2016.

After a meeting between State Bank of India chief Arundhati Bhattacharya and senior officials of Bharat Petroleum, Indian Oil and Hindustan Petroleum, it was decided that the facility will first be available at around 2,500 petrol stations with State Bank of India point-of-sale machines, and will later be extended to around 20,000 more.

According to a press release by IOC, BPCL and HPCL petrol pumps will dispense the cash.

“In this regard, senior officials of IOCL, BPCL and HPCL had a meeting with Ms. Arundhati Bhattacharya, chairman, State Bank of India, today and it has been 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,” the release said adding that this facility will be available even after 24 November.

While the opposition parties have demanded a rollback of demonetisation that was announced by PM Narendra Modi last week, Finance Minister Arun Jaitley, said the rush at bank branches has come down significantly today and that there is absolutely no panic.

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