Hello Friends, The 'Cash Back' scheme introduced for promoting digital payments on petrol pumps has been cut. After refueling the customers, digital payment will now get only 0.25% discount instead of 0.75%.
Hello Guys,The 'Cash Back' scheme introduced for promoting digital payments on petrol pumps has been cut. After refueling the customers, digital payment will now get only 0.25% discount instead of 0.75%. The people related to the matter gave this information.
With the intention of promoting digital payments, on December 13, 2016, on payment of petrol and diesel, payment was made of 0.75 percent discount on plastic card, like debit and credit card. This discount was being given through cash back. Within three days of the payment the rebate amount was put in the customer's account. Oil companies have now said in the information given to the control pump operators that the exemption has been reduced to 0.25 percent.
Oil companies have asked the customers to send information to the petrol pump operators by sending an SMS to the mobile. This will be effective from August 2018. With a 0.75 per cent discount on payment by credit card, debit card, e-wallet or mobile wallet, 57 paise per liter on petrol and 50 paise per liter for diesel was received. Reduced the discount, petrol is now 19 paise and diesel is 17 paise per liter. Petrol in Delhi currently costs Rs 76.43 a liter while diesel is Rs 67.93 a liter.
COMMENT
Prime Minister Narendra Modi announced the withdrawal of notes of 500 and 1,000 rupees in circulation on November 8, 2016. A month after that, many types of discounts were offered to promote digital payments. It was said that 45 million people buy petrol and diesel daily for Rs 1,800 crore. After the ban, digital payments doubled to 40 percent in a month. However, later it was seen that with the cash coming in the economy, digital payments were also reduced.