PNB ends cashback offer for digital fuel payment

Oil marketing companies have withdrawn 0.75 per cent discount on payment of fuel purchases made digitally at petrol pumps. After that, now the Punjab National Bank (PNB) of the public sector has also given a shock to the customers making digital payments. Even after the decision of the oil companies, PNB was transferring this benefit to the customers. It has stopped giving the benefit of this discount to the customers from last month.

After demonetisation in 2016, the Narendra Modi government had asked oil companies to give discounts on digital payments. Its purpose was to promote digital payments. After that people started paying at petrol pumps on a large scale through credit and debit cards. According to the website of PNB, the oil companies have withdrawn the discount of 0.75 per cent given on digital payment of petrol and diesel at petrol pumps. After this the bank has also withdrawn this facility.

Discount through cashback

According to the website of PNB, Oil Marketing Companies (OMCs) IOC, BPCL, HPCL have withdrawn the discount of 0.75 per cent on digital payments. For this reason, PNB has also stopped giving the benefit of this discount to customers from May. From December 13, 2016, a discount of 0.75 per cent was given to those using the card to buy petrol and diesel. This discount was given through cashback, which was credited to the customer’s account within 3 days after the transaction.

Facility removed from every payment mode

Under digital payment, there was a discount on payment through credit card, debit card, online payment, UPI. Initially, the facility of discount on payment by debit card was withdrawn. Now 0.75 percent cashback has also been removed while paying through credit cards. This means that gradually this discount was removed from every payment mode.