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Tag: Ban on 1000 and 500 Notes

Demonetisation Effect: Petrol pumps to provide upto Rs 2000 a day

Are you frustrated about liquid cash? Struggling to get cash from ATMs ? Then this announcement from central govt will make you happy.

Coming to the News is you can get the cash from Petrol Stations. Yes, now drive into a petrol station to draw money. You can swipe your debit card at fuel stations run by state-run oil companies and get Rs 2000 cash.

This facility will be initially started at 2,500 petrol pumps across India that have SBI cards swipe machines. Now from coming three days, the service will be prolonged to 20,000 petrol stations that have card swipe machines from HDFC, Citibank, and ICICI.

Rs 500 and Rs 1000 Notes Ban Affect: Government announces that Families can withdraw upto 2.5 Lakh if any wedding

All India Petroleum Dealers Association suggested this move as a part of center’s efforts to affluence the rush for new notes at bank branches and ATMs following Withdrawl of Rs 500 and 1000 notes. But, they estimate that there will be a chance of rush at petrol pumps by this initiative.

After arranging a meeting between senior executives of leading petroleum industries such as Indian Oil, Bharat Petroleum and Hindustan Petroleum and SBI Chief Arundhati Bhattacharya, finally, the plan of withdrawing cash from Petrol Pumps came to the limelight on Thursday.

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The facility to draw money from petrol pumps will carry on even after November 24, which is the deadline for the use of inactive Rs 500 and Rs 1000 notes in gasoline stations and essential services. The Withdrawl may be limited, and it will be regulated to Rs 2000 per debit card per day.

Ajay Bansal, AIPDA President, told that “We are happy for our proposal. Finally, Government approved the proposal to help middle-class people. We are supporting Government in its fight against black money and terror funding.”

Electronics and Mobile Sellers Offering Zero Down Payment to Stimulate Sales for Falling Sales

Ban on RS 500 and 1000 notes not only affects the common people but also hits the electronics and mobile retailers across India. Mobile sellers and Electronics goods retailers have started offering various schemes to raise sales.

Retailers are offering Zero down payment on mobiles to stimulate sales that have slowed down radically because of demonetization of big notes. Consumers those who have liquid cash are not showing interest to purchase electronics.

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Managing director of Bengaluru Based Sangeetha Mobiles, Subash Chandra said, “Saturday Morning onwards, we are asking customers to pay nothing honest and take mobile phones, and pay the amount in equal monthly installments over 12 months.”

Sellers have typically followed the method of bankrolling, where a part of the cost of the phone is paid straight while the rest pay in monthly installments at a particular rate of interest besides accepting payments through credit cards, debit cards, and all cash.

You Can Pay All State and Central Bills, Taxes , Penalities using Banned Rs 500 and Rs 1000 Notes

However about 30-40 percent cash transactions are done in cash only, and after launching these schemes, we have got few decent sales. Chandra Said.

After the Government put a ban on Rs 500 and RS 1000 notes customers have lower down their purchases of large appliances and small electronic items. The move has led to a drop in demand for retail stores across the country, and experts said that this situation would continue for few more weeks till the cash crush decreases.

Ban of Rs. 500 and 1000 effect: Amazon Stops COD option, Flipkart and Snapdeal Orders Restricted to Rs 2000

Government’s bold and brave move to weed out black money in India shocked everyone. Modi’s statement on the ban of Rs 500 and 1000 notes is a good move and by doing this e will have long-term benefits and growth in the economy. To support the government’s great move, all new e-commerce portals such as Amazon, Flipkart, and Snapdeal are in the first row.

Coming to the details the decision of banning Rs 500 and Rs 1000 notes might not cause inconvenience to persons in the long term, but a working class and small business people may suffer from this. However, PM Narendra Modi decision on the ban of Rs 500 and Rs 1000 hits popular online shopping portals.

How to Exchange Notes Rs.1000 and Rs.500 Explained in Detail

Latest news is that online shopping websites have taken decisions to follow Government movie to brawl Rs. 500 and Rs. 1000 currency notes. Latest update is that Amazon India has stopped Cash on Delivery (COD) option for all the orders.

Apart from Amazon, leading E–commerce portals Flipkart and Snapdeal had restricted the COD option to Rs. 2000 only. If you put orders for more than 2000, you won’t get the COD option for your orders. All these online shopping portals are asking its users to choose a different option rather than COD.

Ban on Rs.500 and Rs.1000 Notes: Pros and Cons of the Move

Flipkart, Amazon, and Snapdeal have also sent a message to customers that their delivery people won’t accept Rs 500 and Rs 1000 notes from now. Not only e-commerce portals, food delivery agencies like Swiggy, Food Panda and successful transportation network companies like Uber and Ola are also not accepting Rs 500 and Rs 1000 notes due to the ban.

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