Government Blinks, Extends Transaction Charge Waiver on Debit Cardsby Adeesh Sharma January 9, 2017 0 comments
This waiver was effected during December at the peak of demonetisation challenges being faced by the public and to give a fillip to government’s demonetisation drive. However, come 2017 and the banks seem keen to introduce a 1% surcharge on all transactions done through debit cards at petrol pumps. Naturally, petrol pump dealers are in a combative mood as this would lead to cash struggle all over again.
So, the government has nudged banks to extend the waiver till cash situation normalises. In all fairness, the government should keep this transaction charge waiver firmly in place till the cash situation completely normalises and all caps on withdrawals are removed. Otherwise, with fuel being a major cash burner, the public shall be inconvenienced by having to stand in bank and ATM queues.