People can dispense upto Rs 2000 by swiping their debit cards at petrol pumps run by Public sector companies.
After the announcement made by Modi Government last week to swap Rs 500 and Rs 1000 currency notes has already created a lot of confusion and curse around the country. Long waiting queues outsides ATM’s, shortage of cash and massive rush in banks are one of the major issues which people have been facing since past week. To make it more convenient, Government has decided to allow dispense of cash upto Rs 2000 through debit card at select petrol pumps. This intervention took place after a meeting between senior officials of IOCL, BPCL, HPCL and SBI Chairperson Arundhati Bhattacharya.
According to the release issued by IOCL which says, “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”. The release further says, “The Oil Industry is also in further discussions with SBI and other Banks to extend this facility to over 20,000 petrol pumps across the country”.
This was a bold move by Modi government against black money and corruption and with the passage of time; we hope that our problems will be resolved soon.