The public sector oil marketing companies, in association with SBI, will dispense cash upto Rs. 2000 per day per person from Friday.
The decision was taken after the SBI chief Arundhati Bhattacharya has a meeting with C&MD of Hindustan Petroleum. Director Marketing, IOC, Director-Finanace, Bharat Petroleum and senior offcials of oil marketing companies.
Around 2500 outlets of the three PSUs that use State Bank POS to swipe debit and credit cards will be utilised for this purpose, according to a press release issued by Hindustan Petroleum.
A person can use his debit card and swipe for Rs. 2000 and collect it as cash from select petrol pumps.
The fuel stations will continue to accept scrapped Rs. 1000 and Rs. 500 notes till November 24, the release said.
>#DeMonetisation Cash Dispensation to be started from select PetrolPumps of IOCL/BPCL/HPCL >@dpradhanbjp>@AshutoshJindalS>pic.twitter.com/N36Ow8PGVH
— Hindustan Petroleum (@HPCL) >November 17, 2016
