In some good news for commuters who were facing harrowing prospect of having to make all-cash purchases for the fuel they would be buying starting tomorrow, petrol pumps have announced that they have deferred their decision not to accept credit and debit cards till January 13.
In some good news for commuters who were facing harrowing prospect of having to make all-cash purchases for the fuel they would be buying starting tomorrow, petrol pumps have announced that they have deferred their decision not to accept credit and debit cards till January 13. Earlier in the day, the associations had threatened a ban on fuel purchases made via debit and credit cards especially those of HDFC Bank and Axis Bank which had imposed a 1% transaction tax on each transaction registered by petrol pumps. Unwilling to pay such a big amount, that they said was never before charged, petrol pump associations had voiced their grievance in public and promised to retaliate in kind against these banks. However, some banks, like ICICI Bank had late on Sunday announced that they have issued no such orders and that they were not imposing any such charge.
You may also like to watch this:
Giving nighmare to the people, the petrol pump associations on Sunday warned that they won’t accept debit or credit cards from Monday. However, there was no such notification from the RBI posted in this regard. The Delhi Petrol Dealers Association president Anurag Narain had said that from Sunday midnight petrol pumps won’t accept any credit or debit card of any bank as the banks have levied a fee of one percent, because of which petrol pumps have no option but to stop EDC machines from operating. The Tamil Nadu Petroleum Dealers Association had also said that it received a notice from banks that a Merchant Discount Rate of one percent will be taxed on all transactions done at the retail fuel outlets from Sunday midnight.
In a response to this, the associations announced to stop digital payment for fuel on the day. However, later in the night, the announcement was taken back and postponed to January 13.