NEW DELHI: In a huge relief for public reeling under cash crisis, banks on Sunday evening deferred their decision to charge transaction fee of one percent on payments through cards at petrol pumps.

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

Earlier, to protest the move, All India Petroleum Dealers Association (AIPDA) had decided to stop accepting payments through cards from midnight.

To promote cash-less transactions, the government had waived the Merchant Discount Rate (MDR) on fuel purchase post demonetisation for consumers. But after the expiry of the 50-day window, the banks have decided to levy MDR on petrol pump owners.

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