Standing in long queues to withdraw cash or exchange old notes Rs 500 and Rs 1,000 with new ones, could be extremely tiring, but Modi government has now come out with a new scheme to give relief to people.
Now you can drive into a petrol pump to draw cash. Swipe your debit card at petrol stations run by state-run oil companies and you will get Rs 2,000.
The facility will initially be available at 2,500 petrol pumps across the country that have card swipe machines from State Bank of India, the country’s largest bank.
It will then be extended to 20,000 outlets that have card swipe machines from HDFC Bank, Citibank and ICICI Bank.
After getting the go ahead from the government, the details of the plans were worked out at a meeting between senior executives of Indian Oil, Hindustan Petroleum and Bharat Petroleum and SBI chief Arundhati Bhattacharya.
The facility to dispense cash from petrol pumps will continue even after November 24, the time till which old currency notes of Rs 500 and Rs 1,000 can be used to pay for essential services.
Due to shortage of smaller denomination notes, pumps have been selling fuel for round figures.