Indian Oil, BPCL, HPCL want banks to cut MDR on card purchases by half

However, banks might not prove to be receptive to the OMCs' demand

State-run oil marketing companies (OMCs) Indian Oil Corp, Bharat Petroleum Corp, and Hindustan Petroleum Corp are looking for a solution to the high card transaction fees for petrol and diesel purchases. 

OMCs want banks to cut the card transaction fees on petrol and diesel purchases by half, Livemint reported while citing four people aware of the development. The sources told the financial daily on the condition of anonymity that the companies would approach the banks with the proposal at a meeting on Monday. 

One of the above sources, an official from an OMC, told the financial daily that the company was