New Delhi: Petrol pump owners deferred till January 13 their decision to not accept credit and debit card payments for fuel sales after banks put off the move to levy the transaction (MDR) charge.
To promote cash-less transactions, the government had waived the Merchant Discount Rate (MDR) on fuel purchase post demonetisation for consumers. But after the expiry of the 50-day window, the banks decided to levy MDR on petrol pump owners.
This meant petrol pumps having to bear 1 per cent on all credit card transactions and between 0.25 per cent and 1 per cent on all debit card transactions from January 9.
In protest of the move, petrol pump operators had decided not to accept card payments from today.
"We have received official communication from oil marketing companies that the transaction fee charges have been deferred till January 13, 2017. AIPDA also has decided to defer the agitation till January 13," said Ajay Bansal, President, All India Petroleum Dealers Association (AIPDA).
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
