Business

Cash against debit swipe takes off at 700 petrol pumps in a bid to ease cash crunch

PTI

 Nearly 700 petrol pumps across the country on Friday started dispensing cash through debit card swipe in a bid to ease the cash crunch in the economy following the Govt’s decision to withdraw 1,000 and 500 rupee notes. The facility to provide Rs 2,000 per day per card will be extended to Rs 2,500 petrol pumps by this week end and will in due course be available at 20,000 outlets across the country.  Govt had on Thursday decided to allow up to Rs  2,000 per day per person to be dispensed against swiping of debit cardsat select petrol pumps where POS machines of SBI are already available.