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Latest on demonetization:

No debit card charges

New Delhi/Chandigarh, November 23

Amid the ongoing political outcry over demonetisation, the government on Wednesday announced more steps to help farmers to meet their cash needs during the ongoing Rabi season and directed banks to waive debit card transaction charges to encourage digital payment.

Here are the key announcements made today:

— The government directed banks to waive debit card transaction charges till December 31 to encourage digital payment.

— To ensure quick and unhindered flow of credit and cash to farmers during the current Rabi season, the government allowed NABARD to disburse Rs 21,000 crore through cooperative banks to farmers.

— Finance Ministry today clarified that people can deposit the now-invalid Rs 500 and Rs 1,000 denomination currency notes in their Post Office savings accounts. The ministry had yesterday said the demonetised notes cannot be used for making deposits in small savings schemes.

— SBI starts work to install Cash@POS (swipe machine) facility at petrol pumps of three major oil companies — Indian Oil, Bharat Petroleum and Hindustan Petroleum.

— In order to shorten queues, the bank has also commenced Green Channel Counter (GCC) at its 1,165 branches in , , Himachal Pradesh, and and Chandigarh.

— At GCCs, customers need to simply swipe their debit cards and punch in their PIN to deposit cash into and withdraw cash from their accounts.

— The government also doubled the monthly transaction limit through e-wallets to Rs 20,000.

— Railways has already waived service charges on online booking of tickets and telecom operators have agreed to make mobile banking services in feature phones free of cost till December 31.

— The government asked automobile manufacturers to provide a digital identity tag in all new vehicles, including cars, to enable electronic payment at all toll plazas and ensure seamless movement at check posts. — PTI

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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