V-Mart offers Cash-withdrawal facility at its 136 stores across the country
Supporting the nationalistic cause, by providing easy access to citizens
November V-Mart, one of the largest 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 uptpRs. 2000 on their Debit cards.
Speaking on the initiative, Mr. 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.”
“Under the circular issued by the RBI, all POS EDC devices can be used for the purpose of withdrawing cash via a Debit Card. V-Mart, which caters to the tier-2, tier-3 and tier-4 markets across 14 states of the country, is enabling the citizens in remote areas of the country with limited exposure to banks get easy availability to cash.”
The common man has been hit most with cash-crunch as day-to-day expenses pile on and low internet penetration restricts the quantum of online transactions.
The cash withdrawal at V-Mart Smart ATMs is subject to the following terms & 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 Vmart store.
- Maximum amount for cash withdrawal is restricted to Rs.2000/- per transaction subject to availability of cash in Vmart store.
- Cash will be provided subject to availability of appropriate denomination only.
- The decision of store manager or manager in charge, in case of any dispute arises in a store will be final.
No charges are being levied either by the bank or by VMart for the transaction.
About V-Mart Retail Ltd.:
V-Mart is dedicated to providing ”Price less fashion” to the consumers in Tier II and III cities where penetration of organized retail is limited. The Company stands true to its promise of Price ‘Less’ Fashion, ever since it opened its first store in Ahmedabad in 2003. V-Mart Retail Ltd promoted by retail expert Mr. Lalit Agarwal, currently operates 136 stores in 116 cities in Eastern, Northern & Western regions covering more than 11.48 lakhsq.ft.ofretail space. As a multi-category retailer it is amongst the fastest growing retail house, with a chain of medium sized hypermarket stores. The company intends to further strengthen its chain of retail outlets across the length and breadth of the country.