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Cash dispersal at NCR petrol pumps yet to be a reality

Cash dispersal at NCR petrol pumps yet to be a reality
In a bid to reduce the long lines outside bank branches and ATMs, the government had announced that people could now draw Rs 2,000 per day from certain petrol pumps.

This scheme, however, seems to have fallen flat as there is no cash available after debit or credit cards are being swiped. As of now, cash-dispensing machines at petrol pumps are only being used to collect money against the fuel filled in the tanks of vehicles. The decision of providing cash against the card swiped is yet to be implemented as no pump in the area has started the facility yet.

“Among 55 petrol pumps present in Noida, this facility is nowhere present yet. Indian Oil has its tie-up with HDFC Bank that is unable to provide us cash at this moment and that has resulted in our failure to begin providing cash at petrol pumps from our end. The bank has denied any such order,” said Dharmendra Singh, a Noida petrol pump owner and general secretary of Uttar Pradesh Petroleum Dealer’s Association.

Talking about how the procedure will work, Singh says: “There are no special cash dispensing machines. The normal card swipe machines we have are upgraded in such a way that the money against swiping the credit or debit card comes to our account and we thus provide him cash against the same, whatever the notes are available with us”.

“To dispense money to customers, bankers need to give the cash in advance. State Bank of India has issued money to one or two petrol pumps in Ghaziabad but they are also not able to provide the full amount declared by the RBI. We have got our machines upgraded and have also made a trial of this facility by swiping Rs 500 notes through the card and providing the amount to a customer but the actual operation will be carried out once we get the advance payment from the bank,” added Singh.

“The facility has started at only two pumps Ghaziabad district. 

“Pumps were given advance payments of Rs 1 lakh in the form of Rs 100 notes but the facility is yet to get started at other petrol pumps,” said Jaivir Singh, president of Ghaziabad petroleum dealers’ association. 
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