30% transactions at state-run OMCs are cashless: Pradhan

New Delhi: Almost 30 percent of the total payments at state-run oil retailers are cashless, Petroleum Minister Dharmendra Pradhan said on Friday after a meeting with oil PSUs to review the status of digital payment initiatives. “Delighted to note that digital payments at our OMC retail outlets have witnessed a year-on-year growth. From almost negligible digital transactions in FY 2015-16, almost 30 percent of total payments in present are cashless, which will further increase significantly in near future,” Pradhan said. The meeting was attended by the top executives of state-run oil marketing companies (OMCs) — HPCL, BPCL and Indian Oil — and officials of the Ministry of Petroleum and Natural Gas. It focussed on the roadmap to push for 100 percent digitisation of energy retail business across the value chain of oil and gas industry in India.

OMCs pushing cashless transactions in a big way

In order to implement the government’s Digital India scheme, state-run OMCs have been promoting digital transactions in a big way over the last four years. State-run fuel retailers have also tied up with digital payment companies for rapid digitisation of payments. On January 22, BPCL launched a Digital India-driven initiative ‘NextGen Pure for Sure Digital Fuelling at Retail Outlets’ for an enhanced fuelling experience that offers greater transparency. The system involves 100 percent secured payment through an integrated digital payment system which ensures automated billing of only dispensed fuel quantity through a state-of-the-art retail automation system. Alt=

Infrastructure preparedness for smart mobility

At another meeting held to review the infrastructure preparedness for adoption of smart mobility and creating a market for electric vehicle charging business, Pradhan asked PSUs to identify indigenous solutions to cater to the needs of EV fleet in India. “High charging time and range anxiety are common issues faced by EV owners. Technologies are being developed to address these issues. Our PSUs are identifying alternative solutions to develop high-capacity chargers & battery swapping facilities to effectively cater to our EV fleet,” the minister said in a tweet after the meeting.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)