ICICI said that it will not be charging any transaction fee.
Petroleum dealers said they will suffer losses and want oil marketing companies to bear the transaction fee themselves or persuade banks to withdraw it. (Representational image)
HYDERABAD: Petrol bunks will not accept credit/debit cards from Monday in a protest against the decision of banks to levy one per cent transaction fee on every payment made through these cards.
However, ICICI said that it will not be charging any transaction fee. Petroleum dealers said they will suffer losses and want oil marketing companies to bear the transaction fee themselves or persuade banks to withdraw it. “We were informed by banks that we will be charged 1 per cent on credit card transactions, and up to 1 per cent on debit card transactions from January 9,” said Rajiv Amaram, joint secretary of the Consortium of Indian Petroleum Dealers.
( Source : Deccan Chronicle. )
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