1. With demands not yet met, petrol pumps threatens to take off every Sunday

With demands not yet met, petrol pumps threatens to take off every Sunday

With the government yet to decide on their demand for higher commission, the petrol pumps have threatened to take off every sunday starting from May 10

By: | New Delhi | Updated: April 10, 2017 6:41 PM
In January, amid tussle between banks and petrol pumps, the central government had declared that the pump dealers and customers would not have to pay transaction cost after owners of petrol pump owners threatened to stop taking cards. (PTI)

With the government yet to decide on their demand for higher commission, the petrol pump owners have threatened to take off every Sunday. As per the report ‘The Times of India’ the petrol pump owners have also threatened to observe May 10 as ‘No Purchase Day’.

In January, amid tussle between banks and petrol pumps, the central government had declared that the pump dealers and customers would not have to pay transaction cost after owners of petrol pump owners threatened to stop taking cards. A day before, the associations had threatened of not accepting debit or credit cards, even though there was no such notifications from the Reserve Bank of India on the matter.

Speaking to reporters, one of the petrol pump owners had said that for each payment on credit cards, the banks charged 1 percent. Speaking to reporters, Delhi Petrol Dealers Association president Anurag Narain had said that banks had levied a fee of 1 percent, due to which petrol pumps have an option but to stop EDC machines from operating.

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The pump owners, who were not willing to pay such a huge amount, had voiced their concern in public and had promised to retaliate in kind against these banks. Some banks like ICICI Bank had however late on Sunday announced they had not issued any such orders and were not imposing any such charge.

Coming in their support, the Tamil Nadu Petroleum Dealers Association had also said it received a notice from banks saying that a Merchant Discount Rate of one percent will be taxed on all transactions done at the retail fuel outlets.

In a response to this, the associations had announced to stop digital payment for fuel on the day. Later in the night, the announcement was taken back, following intervention by authorities.

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