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Cash dispersal at point of sale yet to start

The order to allow cash withdrawal up to ₹2,000 by swiping credit/debit cards at petrol pumps is yet to be implemented on the full scale. Only two of 100 petrol pumps in the district started the facility.

noida Updated: Nov 21, 2016 00:08 IST
Peeyush Khandelwal
Ghaziabad
The move is initiated to ease the burden on banks and ATMs.(Sakib Ali/HT)

The order to allow cash withdrawal up to ₹2,000 by swiping credit/debit cards at petrol pumps is yet to be implemented on the full scale. Only two of 100 petrol pumps in the district started the facility.

“Only two petrol pumps have started the facility. We were given ₹1 lakh and nearly ₹30,000-₹40,000 was withdrawn by customers till Saturday. We were given ₹100 notes by the bank. The facility is yet to start at other petrol pumps,” Jaivir Singh, president of Ghaziabad and Hapur petroleum dealers’ association, said.

The move is initiated to ease the burden on banks and ATMs. Owners of other petrol pumps said the facility will be started in a day or two.

“On Saturday, bank officials uploaded some software into our card swiping machine. They said that we will be given cash from our bank,” Krishan Kumar Garg, owner of Shiva Automobile on GT Road, said.

However, the cash withdrawal facility is yet to start at point-of-sale outlets in Ghaziabad.

“We just heard an announcement that this facility has been initiated, but we are yet to get operational guidelines. We will also face issues of lack of space in congested markets and have to deploy additional staff. Further, there are security concerns in maintaining huge amounts of cash for distribution,” Rajnish Bansal, a trader at Turab Nagar market, said.

Bank officials said they are hoping for replenishment of cash supply as long queues are likely to resume from Monday. The lead bank manager said that most of the banks in Ghaziabad fell short of cash on Saturday but the situation is likely to improve from Monday.

On Sunday, most ATMs were exhausted as citizens moved out for shopping and enjoying the weekend. Most ATMs in Navyug Market, Raj Nagar District Centre and Gandhi Nagar markets were out of cash till Sunday evening.

“The petrol pump and point-of-sale cash distribution are not in our purview. Banks will be replenished with cash and the situation is likely to improve from Monday. ATMs are also being recalibrated for new ₹2,000 and ₹500 notes. A number of banks still don’t have the facility of cash vans. One was deployed at Khoda last week with the efforts of the district magistrate,” RS Meena, lead bank manager, Ghaziabad, said.