Ambiguity persists on petro digital payment discounts

The three government-owned oil marketing companies (OMC)s were unclear on what was to happen after the Friday midnight deadline for the discounts they were offering on digital payments at retail motor fuel stations."We are yet to receive a communication from the (petroleum) ministry (on this). We cannot decide without a directive," said a top marketing official from of the three. To promote digital payments after last November's currency demonetisation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation and Indian Oil Corporation were directed to offer 0.75 per cent discounts as cash-back for such payments at fuel pumps. These were to be offered till end-March.However, they've also have informed pump dealers that they will not be debited by banks for these discounts beyond Friday. "The OMCs sent a letter to dealers three to four days before that this would not happen, as banks are now able to directly deal with the OMC. The required software is being put in place," said ...