CHENNAI: Petrol bunks in Tamil Nadu will not accept card payments starting tomorrow, January 9.
A statement by the Tamil Nadu Petroleum Dealers Association said the decision was taken due to the new transaction fee imposed on them by banks and the delay in bank settlements for payments by credit and debit cards.
The decision is certain to add to the difficulties being endured by people in Tamil Nadu due to the severe cash crunch since the demonetisation of Rs 1,000 and 500 notes.
A press release signed by K P Murali, the president of Tamil Nadu Petroleum Dealers Association, said dealers were suddenly informed by banks about a fee of 1 percent on every transaction starting Monday, January 9. This was a unilateral measure, the statement said.
Further, the association said banks were delaying settlements of dues on card payments or settling them only partially. "Reconciliation of the number of card swipes to the amount credited to our accounts is causing a lot of hardship and loss of a large percentage of the dealers’ revenue," it said.
The association has requested the oil marketing companies and other authorities to intervene.