Fuel stations unable to dispense cash as currency stays limited

The Centre had declared that people can withdraw a maximum of Rs 2500 by swiping debit cards at petrol pumps from Friday.

Published: 19th November 2016 02:13 AM  |   Last Updated: 19th November 2016 07:28 AM   |  A+A-

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By Express News Service

BHUBANESWAR: Even though the authorities of Reserve Bank of India (RBI) had assured of availability of new Rs 500 notes at banks and ATM kiosks from Friday, more than 90 per cent of public and private sector banks are yet to receive the fresh stock of currency wads.

Apart from a handful of branches of some nationalised banks in the City, the new Rs 500 notes were unavailable in majority of the banking institutions.

Perturbed by transaction of the new high value currency (Rs 2000) for over five days now, people in the Twin City said the situation was aggravating as shopkeepers are refusing to accept the Rs 2000 notes. It has become a serious headache for households to purchase stuff for their daily chores, they rued.

‘’Why should I accept Rs 2000 note for a purchase of Rs 200? Where will I arrange Rs 1800 in change to return to the customer?’’ defended Hemant Singh, a grocery retailer of IRC Village area.
Transaction with cards is neither possible at all places nor is a convenient affair for all, a retired Government employee said asking not to be quoted.

On the other hand, while the Centre had declared that people can withdraw a maximum of Rs 2500 by swiping debit cards at petrol pumps from Friday, the order was yet to be implemented in the City till late evening.

Contacted, some fuel station proprietors argued that they have tie-ups only with private banks and so do not use a card swiping machine of SBI or other Nationalised banks. ‘’With limited currency available in our reserve, it is not feasible for us to tender cash to people who do not even purchase fuel,’’ a petrol pump owner said asking not to be quoted.

Sources said the facility was available to the public only in Berhampur. Sources in Indian Oil Corporation Limited said the scheme would be implemented in 168 petrol pumps in the State. In the Twin City of Bhubaneswar and Cuttack, cash will be available at petrol pumps by late Friday evening, the sources added.

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