Ludhiana: Oil Marketing Companies, IOCL, BPCL and HPCL petrol pumps have in agreement with SBI, HDFC, ICICI Bank and Axis bank decided to act on the directive. However, for the purpose not all pumps are covered and talks are on to provide cash as per the directive.
SBI has already started providing cash to the designated Petrol Pumps, which is being made available at the rate of Rs. 2000 per head to the general public through debit card swipes from the banks’ EDC machines provided at Petrol Pumps. Please note that Petrol Pumps do not have cash at their disposal and for the purpose they will able to dispense only the cash provided by the banks.
Petrol pumps themselves do not have liquid cash and the public has to understand that they are already giving back to our customers whatever cash they are getting through sales, therefore, leaving them without any cash of lower denominations below Rs. 100.
Moreover, petrol pumps are not receiving any extra cash for operating their business from banks and are at par with other business in receiving only Rs. 50,000/- (Not all of it is in lower denomination) per week. This amount is grossly inadequate to settle cash transactions of customers. Moreover, customers are lining up with Rs. 2000/- currency notes for which change is not available at petrol pumps. Petroleum Dealers Association Ludhiana is committed to help the public, however, in absence of adequate cash, we are helpless. PDAL dealers are committed to whatever duty is assigned to our petrol pumps in service of the nation, the people and appeal to the public to be patient and understanding.DP
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