Now people can withdraw cash upto Rs.2000 by swiping their SBI Credit & Debit cards. Selected BPCL/ HPCL/ IOCL outlets have started to dispense cash from today morning. The move was to help reduce the long queues at ATMs and banks that are already under pressure for exchanging and depositing cash since Rs.500 and Rs.1000 notes were scrapped.
The facility will be available at 2500 public sector petrol pumps across the country. This will be extended to 20,000 petrol pumps later that have swipe card machines from HDFC Bank, ICICI Bank, and Citibank.
The proposal was accepted early this morning. All India Petroleum Dealers Association (AIPDA) President Ajay Bansal proposed this idea by letter to the Prime minister on November 14th to help people's cash woes.
"We have never shied away from serving any national cause. We are happy to assist the government in its fight against black money and terror funding," he added.
The facility will be extended even after November 24th, which is the last date to use Rs 1,000 and Rs 500 notes for essential services.
Long queues at ATMs and banks have led to frustration among public as they spend hours waiting for their turn to withdraw cash.