686 petrol pumps start dispensing cash via debit cards

In a bid to ease the cash crunch after the November 8 demonetisation, close to 700 petrol pumps on Friday began dispensing cash against swiping of debit cards, an official statement said here.

"Cash dispensing facility has become operational at 686 retail outlets by 4 p.m today (Friday) by public sector oil companies in association with the State Bank of India (SBI)," a Petroleum Ministry statement said. 

The government on Thursday allowed dispensing of up to Rs 2,000 in cash through debit card swipes at select petrol pumps where card swipe machines of the SBI are already available.

"It has been decided to start this facility at around 2,500 petrol pumps across the country. The oil industry is also in further discussions with the SBI and other banks to extend this facility to over 20,000 petrol pumps gradually," the statement said.

Petrol pumps have been accepting currency notes of Rs 500 and Rs 1,000 denominations and will continue to do so till November 24, it added.