Government Granted Big Bazaar Stores to Allow Its Customers to Withdraw Cash from FBB Outlets

Big Bazaar has come up with a new announcement that, the customers will be able to withdraw money from their debit cards from all the Big Bazaar stores. The facility will be available from November 24, 2016, while shopping  people will be able to make withdrawal of up to Rs. 2000. All 258 Big Bazaar outlets stretched across 115 cities in the country will facilitate this service.

SBI (State Bank of India) helped the company in executing this facility with the help of the cash of the bank at POS machines. Withdrawals can be made using any bank’s ATM/debit card, irrespective of the bank name.

Big Bazaar 2

Explaining this helpful development, Kishore Biyani (chairman, Future Retail Limited) mentioned, “We are trying hard to ease any difficulties faced by customers due the demonetisation of Rs 500 and Rs 1,000 currency notes and support the government’s initiative in meeting its objective. Now with customers being able to withdraw cash at Big Bazaar stores, they are welcome to visit our stores instead of queuing up at banks and ATMs.”

There are dedicated cash counters in all stores of FBB, so the customers need to get their ATM/debit card swiped there, put the secret PIN code and they will be able to draw maximum Rs. 2000 from the bank account. Here, whatever restrictions banks, RBI and the government have imposed on cash withdrawals, will be applicable on all the transactions of withdrawals.

This is a great move at this time, when because of government demonetization policy, the cash has become a scarce commodity in the country and people are facing so much of temporary hardships. Undoubtedly, the provision will add up to little comfort in the arduous situations.

Also, ss per the experts opinions, this intellectual move by Big Bazaar will give it droves of customer footfalls in the stores. Hence, there can be a dramatically  steep hike in the conversion rates of the company.