SBI credit card holder? No more cashback on petrol-diesel purchase at fuel stations from October 1
SBI credit card holders BEWARE! SBI won't give 0.75 per cent cashback on petrol or diesel purchase from 1st October 2019.
Those State Bank of India or SBI credit card holders who take advantage of digital payment discounts at petrol stations should know that from October 1 onwards, cashback on petrol and diesel purchase won't be available. The largest commercial bank in India, SBI has decided to stop giving cashback service to its credit card users from October 1st. So, from October 1, 2019, SBI credit card-holders will have to pay little more than other banks who have not discontinued this benefit extended to their credit card users while refuelling their vehicles at various petrol stations in India.
Murmurs are doing the rounds that other banks are also mulling to follow SBI, however, till date, only SBI has informed its customers about the discontinuing the cashback service from October 1. The cashback service was started post-demonetisation to push the digital payments in India. This was aimed at addressing the cash crisis during demonetisation and inspiring people to adopt digital payment system.
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The SBI has sent messages to its customers informing about its decision on cashback service. In its message, the SBI has informed its customers that they won't be eligible for 0.75 per cent cashback on fuel purchase through SBI credit card. The SBI used to credit this discount to its credit card used within three days of the fuel purchase through SBI credit card.
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