Post-Demonetization Indian Oil is Having 1/5th of it's Total Transactions as Cashless: B Ashok

AHMEDABAD: Chairman of Indian Oil, the largest public sector oil company in the country, B Ashok came forward in support of demonetization. He expressed that the cash-less transactions Indian Oil owned outlets has become almost one-fifth of the total transactions after demonetization.

Mr Ashok, who inaugurated first XtraPower Sarai in Gujarat at Company Owned, Company Operated (COCO) Retail Outlet at Moraiya in Ahmedabad district, said that due to demonetization, the cashless transactions are now 18 to 20 per cent of the total transactions.

He also that XtraPower fleet card owners were also now transacting in cashless mode. He reiterated that the outlook was very positive for the Corporation in the future owning to its excellent infrastructure and continuous modernization with a customer centric marketing approach. Taking about Gujarat the IOC Chairman said Gujarat was a very important state as far as petroleum sector was concerned.

He mentioned that many investments would be made by Indian Oil in the state particularly in the Gujarat refinery for the upgrade of its present capacity from 13.7MT to 18 MT. The other investments would be to scale up the BS IV grade fuel to BS VI. Notably the XtraPower Sarai provides various free of cost facilities including parking space, dormitory facility for taking rest, lockers, playground equipment, entertainment facility such as TV, Bathing facilities, washing machines for washing clothes etc to the drivers of vehicles who were members of the loyalty programme in the form of XtraPower fleet card.

In addition there are other facilities such as Dhaba and saloon and the round the clock CCTV provided at the outlet ensures total security to the vehicles. This is the first such Sarai of IndianOil in Gujarat and eight more are planned in major highway IndianOil Retail outlets of the state in the near future.

This is the 43rd Sarai of Indian Oil in the country and by the end of this year 100 such Sarais are likely to come up. The figure may go up to 200 by the end of next year. Parindu Bhagat, Independent Director, IndianOil and Sanjeev Kumar Jain, Executive Director (Gujarat State Office), IndianOil were also present on the occasion.