spokeswoman Catherine Enck said "a small quantity" of the government's emergency stock had been drawn.
Under the UFIP, the bank will open accounts with restricted or lenient KYC and also deliver smart cards to the clients to make deposit, draw funds and send money via business correspondent format.
The Reserve Bank of India s (RBI) Deputy Governor - K C Chakrabarty stated, UFIP has been introduced with the view to uplift the urban poor.
The French oil distribution industry, however, had an overall net margin of about 500 million euros in 2011, according to UFIP
estimates, equivalent to the amount to be levied by the government this year.
Last week Nicolas Sarkozy, the French president, ordered riot police to move strikers from the entrances to the depots to allow fuel trucks through, and on Monday Jean-Louis Schilansky of the UFIP
industry body told the AFP news agency they were clear.
Specifically, the UFIP
draws attention to port inspections which are often inadequate, vetting procedures (controls conducted by the chartered) which are too restricted, and shortcomings in the Sire data base on tankers, which is incomplete.
Last Friday, UFIP
said that only 317 stations were out of fuel but that figure now has tripled in the past two days as strike action and blockades spread to six out of eight French refineries.
The French refining sector lost 700 million euros ($945 million) last year, French oil lobby UFIP said, as cheap US fuel imports and more competitive plants in Asia and the Middle East ate away at European refiners' margins.
The refining sector is now facing extremely intense competition, especially from the USt, because energy costs for American refineries are much lower than ours thanks to shale gas," Jean-Louis Schilansky, the head of UFIP, said at the oil industry group's annual presentation.
But France's UFIP
oil industry lobby has said France could see serious fuel-supply problems by mid-week, meaning the government may have to look at tapping emergency reserves.
also said that at current consumption rates supplies would