Petrol Pumps are the new ATMs!

The government has accepted the proposal put forward by All India Petroleum Dealers Association (AIPDA) of giving cash to the general public just by swiping their debit cards at petrol pumps run by state-run oil companies up to 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. Over the next three days, the facility will be extended to 20,000 outlets that have card swipe machines from HDFC Bank, Citibank and ICICI Bank. The move, initially suggested by the All India Petroleum Dealers Association, is part of the Centre’s efforts to ease the rush for new currency notes at bank branches and functional ATMs (cash dispensing machines) following the withdrawal of Rs 500 and Rs 1,000 bills.