Demonetisation: Select petrol pumps to dispense cash up to Rs 2,000 from today

In a bid to ease cash crunch, the government has allowed dispensing cash of up to Rs 2,000 through debit card swipe at select petrol pumps from today.

Zee Media Bureau

New Delhi: In a bid to ease cash crunch, the government has allowed dispensing cash of up to Rs 2,000 through debit card swipe at select petrol pumps from Friday.

The facility will be available at 2,500 petrol pumps.

"It has been decided that an amount up to Rs 2000 per day per person in cash can be dispensed against swiping of debit card from select petrol pumps where POS machines of SBI are already available," an official said.

POS machines are the machines which are generally used for debit or credit card transactions.

With the demonetisation creating hardships in the middle of marriage and sowing seasons, government has allowed witdrawals up to Rs 2.5 lakh for weddings and up to Rs 50,000 for farmers but more than halved the limit of exchange of defunct notes to Rs 2,000.

With effect from today individuals can exchange invalid 500 and 1,000 rupee notes totalling Rs 2,000, as against Rs 4,500 earlier, only once till December 30.

Economic Affairs Secretary Shaktikanta Das yesterday said the families preparing for a wedding can withdraw up to Rs 2.50 lakh from bank account giving PAN details and self declaration.

Besides, farmers who have taken crop loan or have kisan credit card can withdraw Rs 25,000 per week. Also those who have got payments through RTGS or cheque deposit in KYC compliant bank account can withdraw an additional Rs 25,000 a week. This takes the total cash withdrawal limit for farmers from KYC complaint bank accounts to Rs 50,000 per week.

Prime Minister Narendra Modi had on November 8 surprised citizens by announcing demonetisation of 500 and 1000 rupee notes and since then large number of seemingly unending queues before banks and post offices are seen in order to exchange these currencies.