Get up to Rs. 2k cash at petrol pumps by swiping debit cards

The services will be provided by IOCL, BPCL and HPCL in association with SBI.

The Dollar Business Bureau

There would be some respite for the people who have got hit by demonetisation as the government has announced that people can now get cash up to Rs. 2000 per day per person by swiping debit cards, at close to 700 petrol pumps.

According to a statement by the Petroleum Ministry, “The facility became operational at 686 retail outlets by 4 pm starting November 18. The services will be provided by public sector oil companies such as Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) in association with the State Bank of India (SBI). Out of the 686 pumps, 350 will be IOCL, 266 of BPCL and another 70 of HPCL.”

This is the result of a meeting of senior officials of IOCL, BPCL and HPCL with Arundhati Bhattacharya, Chairman, State Bank of India wherein it was decided that an amount up to Rs. 2000 per day per person in cash can be dispensed against swiping of the debit card from select petrol pumps where POS machines of SBI are already available.

The plan is to implement the services at 2500 petrol pumps in the country and ultimately extend it to 20,000 as talks are underway for taking this proposal forward.    

Petrol Pumps have been one of the few places where the old currency notes of Rs.500 and Rs.1,000 denominations are being accepted and the same can be availed till November 24. But the facility of cash dispensing will be available thereafter this date. 

The Dollar Business Bureau - Nov 19, 2016 12:00 IST