Business
90% cash of Rs 2,000 notes, say fuel bunks in Punjab

Chandigarh, May 25
Before the announcement of withdrawal of Rs 2,000 banknotes, petrol pump owners in Punjab used to receive just 10 per cent of the daily cash of this denomination.
After the decision to withdraw the currency, almost 90 per cent of the cash received is of Rs 2,000 notes, the Punjab Petroleum Dealers Association said on Thursday.
Asking the Reserve Bank of India (RBI) to issue guidelines to the banks for providing enough small denomination notes, the association said the decision to withdraw Rs 2,000 notes has again created the same difficult situation at petrol pumps as was during the 2016 demonetisation drive.
"Majority of the customers are trying to use Rs 2,000 notes even for small purchases of Rs 100-200 and we are extremely facing shortage of change," said association secretary general Rajesh Kumar.
"Since we receive and give change received from the customers only, we request and solicit card or digital payment or would request customer cooperation by tendering exact or reasonable note denomination as per their purchase amount at our outlets," he said.
Cash payments at fuel bunks have surged in the wake of the decision to withdraw notes as more and more consumers are using the notes to buy petrol and diesel, Kumar said most of the petrol pump owners "are afraid that we would again face problems as after demonetization in 2016 most dealers received harassment by tax authorities".
Pointing out further, he said the daily digital payments that used to be around 40 per cent have dipped to just 10 per cent and the cash sales have increased dramatically.

21 minutes ago
Trump says Iran may restart nuclear programme "at a different location", calls it "a problem"

3 hours ago
Hamas submits "positive response" to US-backed Gaza ceasefire deal

3 hours ago
Trump announces plans to host UFC fight at White House for nation's 250th year of independence

3 hours ago
24 die in Texas floods, Trump calls inundation 'terrible'

3 hours ago
Musk threatens Republicans over Trump's 'big, beautiful bill', sparks internal rift

3 hours ago
Trump's 'One Big Beautiful' Tax and Spending Law: A New Era of Economic Redesign

4 hours ago
Ryo Tatsuki's tsunami prediction shook Japan; a heavy blow to the tourism sector; loss estimated at ₹30,000 crore.

7 hours ago
Release of Anushka Shetty, Vikram Prabhu-starrer 'Ghaati' postponed

7 hours ago
Goldmine: Sanju Rathod of ‘Gulabi Sadi’ fame says, there’s a lot to explore in Marathi music

7 hours ago
Makers of Prabhas's The Raja Saab condole demise of Hollywood star Michael Madsen

7 hours ago
Niharika Chouksey calls his Tum Se Tum Tak co-star Sharad Kelkar 'a very good human being'

7 hours ago
Jackie Shroff joins the plantation drive at the Lonikand Biodiversity Park

7 hours ago
Manushi Chhillar speaks on beauty treatment of actresses amid Shefali Jariwala's anti-aging pills debate