Oil marketing companies to take on RIL with e-discounts, cashbacks

Indian Oil is offering a cashback of 10%, or up to Rs 50, for every transaction

Two state-run oil marketing companies are offering discounts on digital transactions at their petrol outlets.

Representatives of the fuel retail industry see it as a sign of competition from the recently announced Jio-BP venture.

According to a definitive agreement relating to a joint venture (JV) between BP and Reliance Industries (RIL), the JV will be formed in the first half of this year. 

“Various oil companies have been offering schemes at their petrol pumps. Most of this is to ensure state-run oil companies do not lose market share to RIL,” said Ajay Bansal, president of the All India Petrol Dealers Association