INOX partners with SBI to offer cash withdrawal at its properties

The facility will be available across 17 properties starting Nov 25 and will be made available at the remaining 89 properties over the course of the weekend

Multiplex chain INOX Leisure has launched an initiative to ease the process of cash withdrawal in supporting the demonetization drive by the Government. The company has partnered with State Bank of India (SBI) to facilitate this transaction at the nearest INOX multiplex using a debit card.

Citizens can swipe their debit cards, enter their PIN number and take up to Rs 2,000 in cash per card per day.  All applicable guidelines of the Reserve Bank of India with regard to cash withdrawals shall be followed. The facility will be available across 17 properties starting November 25, and will be made available at the remaining 89 properties over the course of the weekend.

This is not the first initiative taken by the multiplex industry in view of demonetisation. Industry leader PVR promptly waived off the convenience fee charged while booking tickets on its website and mobile app. It also release a fresh burst of promotions on pre-ordering and e-payment on F&B, and incentives for first time app-users. Multiplex owners expect the demonetisation initiative to significantly increase the online transactions on ticketing, which currently stand at 40-45%.

Siddharth Jain, Director, INOX Leisure Ltd, said: “We, at INOX Leisure, believe that the current demonetization will have a positive impact on the Indian economy. We want to serve the nation at large by assisting the government in achieving their objectives of building a progressive economy. Through this effort, we are attempting to ease any difficulties that are currently being faced by people due to demonetization. INOX Leisure is proud to be the first multiplex in the country to launch this initiative and make a contribution towards achieving the objectives of the demonetization drive by the government.”

State Bank of India (SBI) said, “We are glad to partner with INOX Leisure for the initiative that they have undertaken during this phase. At SBI, we provide support to customers and this association with INOX coincides with our offering.”