All India Petroleum Dealers Association asks RBI to provide them adequate time to change Rs.2000 notes

All India Petroleum Dealers Association representing the issues of Petroleum Dealers would to draw attention towards RBI decision to withdraw Rs.2000 note.

Withdrawal of Rs.2000 Denomination Banknotes from Circulation

Reetu | May 24, 2023 |

All India Petroleum Dealers Association asks RBI to provide them adequate time to change Rs.2000 notes

All India Petroleum Dealers Association asks RBI to provide them adequate time to change Rs.2000 notes

All India Petroleum Dealers Association the national association(Regd.) representing the issues of Petroleum Dealers would to draw attention towards the RBI decision to withdraw Rs.2000 note has again created the same difficult situation at Petrol Pumps across country as was faced during 2016 demonetisation drive. Majority of the customers are trying to use Rs.2000 notes even for small purchases of Rs.100-200 and are expecting change from the Petrol Pumps and hence the Petrol Outlets are extremely short of change across the country. Since we receive and give change received from the customers only we request and solicit card or digital payment or would request customer cooperation by tendering exact or reasonable note denomination as per their purchase amount at our outlets.

We also request the RBI to give guidelines to banks for providing enough small demonization notes especially to Petrol pumps in lieu of Rs.2000 notes so that we can smoothly serve our customers.

Before this Rs.2000 withdrawal we used to receive only 10% of our ca.sh sale through Rs.2000 note but now almost 90% of ca.sh received at our outlets is in the form of Rs.2000 notes only and we have to deposit the same in banks on daily basis. We are afraid that we would again face problems due to current scenario as was faced after demonetisation as most of dealers received Income Tax Notices/Raids without any faults of them as they received more payments during that period due to increased sale and outstanding payment from Credit Customers.

Also the digital payments which used to be @40% of our daily sales has suddenly gone down to 10% of daily sales and our cash sales has increased dramatically as customers are desperately trying to use Rs.2000 which will again create trouble for us with Income Tax Authorities.

We serve the nation and the customer 24/7 /36S and would like the customers to understand our problem of short change and that we cannot provide change against every Rs.2000 note.

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