New Delhi, Jan. 9: Earlier the Petrol Pumps association across India had said they will be using only cash as a made of transaction from Monday 8th onwards. However now the petroleum association has gone back from their decision soon after the Center Government steps in, they have postponed their decision till January 13.
The Union Minister of Petroleum Dharmendra Pradhan on Sunday confirmed that the Merchant Discount Rate (MDR) put by the Reserve Bank of India (RBI) is a business issue between the Banks and Oil Marketing Company (OMC) which will be resolved shortly. This merchant discount rate or MDR fee won't be applied till January 13.
The oil minister further said that the retail outlet owner and the consumers should not worry about any kind of surcharge; The government will be taking up this issue between oil companies and the banks as it is a business issue. He also said the government is clear about the matter.
The petrol pump association has earlier threatened on this
This was done by the center earlier when the government has waived the MDR on fuel purchase, just after the announcement of demonetisation after 8th November to improve cashless transaction. And now after two months the Banks decided to put back the MDR on which the petrol pumps owners association reacted in such a way.
We have to wait and see til jan 9th what will be the next move by the banks, government and the petrol pumps.
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