Excelsior Correspondent
JAMMU, Nov 25: V-Mart, one of the fastest growing chain of family fashion stores in India, catering to tier-2 and tier-3 cities, has decided to lend its support to the nationalistic cause of demonetization by providing the citizens easy access to cash across India.
The retail giant, which operates 136 stores across 116 cities, will enable Smart ATMs at all its stores allowing citizens to withdraw cash up tp Rs. 2000 on their Debit cards.
Speaking on the initiative, Lalit Agarwal (CMD- V-Mart Retail Ltd.) said, “What we are witnessing today is nothing short of a revolution and we fully support the initiative taken up by the Indian Government. And as with every revolutionizing initiative, there is bound to be certain hurdles and hardships. In our endeavor to assist the citizens tackle the after-effects of demonetization and assist the Government in easing the current cash-crunch; all of 136 V-Mart stores will act as Smart ATMs, allowing the citizens to withdraw cash and avoid hassles of queuing up at Banks.”
The cash withdrawal at V-Mart Smart ATMs is subject to the terms and conditions: Only Debit cardholders are allowed for cash withdrawal with a limit of one transaction per person; Customer must carry a valid Photo ID proof in original to be checked at the withdrawal counter of V-Mart store; Maximum amount for cash withdrawal is restricted to Rs.2000 per transaction subject to availability of cash in Vmart Store.
No charges are being levied either by the bank or by V-Mart for the transaction.
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