Banks defer decision on charging transaction fee

A discussion with all stakeholders will be held in the next few days to establish a mechanism to compensate the dealers, banks have also said.

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New Dehli, Jan 8: In a major relief, banks on Sunday evening deferred their decision to charge transaction fee of 1% on payments through cards at petrol pumps.

petrol

The decision comes in the wake of the All India Petroleum Dealers Association deciding to stop accepting payments through cards from midnight.

A discussion with all stakeholders will be held in the next few days to establish a mechanism to compensate the dealers, banks have also said.

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