Bhopal: Petrol pumps refuse to accept Rs 2,000 notes on fuel worth Rs 100

Bhopal: Petrol pumps refuse to accept Rs 2,000 notes on fuel worth Rs 100

This is causing shortage of smaller denomination notes. Petrol pump dealers have pasted notice, stating that Rs 2,000 notes will not be accepted if customers purchases fuel of little value, petrol pump dealers’ association president Ajay Singh said.

Staff ReporterUpdated: Monday, May 22, 2023, 08:36 PM IST
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Bhopal: Notice pasted on petrol pumps | FP Pic

Bhopal (Madhya Pradesh): Petrol pumps have refused to accept Rs 2,000 currency notes on purchasing fuel worth Rs 50 or Rs 100 in the city. They have pasted notices at petrol pumps in this regard, mentioning that payment of Rs 2,000 notes will not be accepted against  purchasing fuel of nominal value.    

Petrol pumps are facing the heat as customers are thronging with the high-value currency notes from Friday late night to buy fuel worth as little as Rs 100 or Rs 50.

“Rush of customers with Rs 2,000 notes is creating problems for petrol pumps dealers as people are purchasing fuel of Rs 50 or Rs 100. This is causing shortage of smaller denomination notes. Petrol pump dealers have pasted notice, stating that Rs 2,000 notes will not be accepted if customers purchases fuel of little value. RBI has clarified that by September, Rs 2000 note is legal,” petrol pump dealers’ association president Ajay Singh said.

Pink notes in bullion market

Madhur Agrawal, state convener of Agrawal Mahasabha associated with bullion market, said, “There has been a sudden spike in cash transactions in bullion market. In last few days, flow of Rs 2,000 notes increased manifold.”

He added, “Ultimately, notes will be deposited in bank whether people themselves deposit or traders deposit. But people are avoiding to go to banks for it as they had bitter experience during demonetisation.”

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