Mumbai: 2,500 petrol pump dealers to swipe for cash? Not yet

Published: Nov 18, 2016, 18:49 IST | Shashank Rao

Rushing off to the nearest petrol pump after reading the news this morning? Stop. The Centre's announcement of allowing 2,500 select petrol pump dealers to act as bank tellers from today is not, as of now, applicable to metropolitan cities like Mumbai

Mumbai: 2,500 petrol pump dealers to swipe for cash? Not yetRepresentational picture

Rushing off to the nearest petrol pump after reading the news this morning? Stop. The Centre's announcement of allowing 2,500 select petrol pump dealers to act as bank tellers from today is not, as of now, applicable to metropolitan cities like Mumbai. The Petrol Dealers' Association in Mumbai has clarified that initially petrol pumps in rural areas and Tier-III towns will have this facility.

"In the first step, villages and rural areas having petrol pumps with SBI machines will be allowed to dispense cash against a card swipe. It is likely that this facility will be made available to people in metropolitan cities like Mumbai at a later stage," said Ravi Shinde, president, Petrol Dealers' Association of Mumbai.

The government announced that 2,500 petrol pumps across India would also give Rs 2,000 when a person swipes his debit card on a point of sale (POS) machine belonging to the State Bank of India. This is to offset the serpentine queues seen at banks and ATMs to exchange, withdraw and deposit money.

Gradually more than 20,000 petrol pumps too will be brought under the umbrella which has POS machines of other banks as well. The petrol pumps will be accepting Rs 500 and Rs 1,000 notes till November 24.

Petrol pumps run by the Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and the Hindustan Petroleum Corporation Limited where POS machines of the SBI are available will have the facility. "There are select petrol pumps that have SBI machines which can dispense cash against a swipe," said a spokesperson for HPCL.

Petrol pump dealers, however, fear the announcement will lead to uncontrollable crowds as people flock to petrol pumps to swipe their cards apart from motorists who are already queuing up to do away with their Rs 500 and Rs 1,000 notes.

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