Great news. Modi govt now allows Petrol pumps to disburse cash

The queues outside ATMs and banks are set to get shorter with petrol pumps taking care of some of the cash starved rush. The government has now decided to allow petrol pumps to dispense money upto Rs 2000. The facility reportedly available at 2000 petrol pumps, later to be extended to 20,000 petrol pumps. Cash will be given by swiping of debit/credit card via POS machine. Petrol pumps were also one of the few places where old Rs 500 and Rs 1000 notes were being taken.

ANI reports Public Sec Oil Companies like IOCL, BPCL and HPCL in association with SBI today decided that Rs 2000 cash per day can be dispensed against swiping of debit card from select petrol pumps where POS machines of SBI are already available.

This move is expected to help deal with the serpentine lines accumulating in Banks and outside ATMs.

In the past week, the government has rolled out a slew of measures to make the transition from old Rs 500, Rs 1000 notes to the new Rs 2000 news and more Rs 100 notes easier. Demonetization of Rs 500, Rs 1000 has left people struggling with fulfilling their daily requirements with reports of stress deaths and people losing patience with government’s move to deal with the dual problem of black-money and fake currency, pouring in.

However, government too has given several relaxations to help people cope with the change.