SBP to inject new currency notes from August 01

Karachi: (Monday, July 30, 2012) As the Eid-ul-Fitr approaches, the State Bank of Pakistan (SBP) decides to inject fresh currency notes in the market from August 01. To equally circulate the fresh currency notes, the SBP will utilize over 10,000 branches of the commercial banks across Pakistan.

The fresh currency notes will be available to the general public throughout the holy month of Ramadan.

According to the details, the SBP Banking Services Corporation has made elaborate arrangements for supply of adequate quantity of fresh currency notes particularly of small denominations (Rs 10 to Rs 100). The fresh notes will be provided to the commercial banks depending upon their branch networks.

The SBP BSC has also placed a ceiling on acquisition of new currency notes, according to which, the bank will give only one packet of each Rs 10/-and Rs 20 per person to visiting general public/ account holders from August 1. The provision of new notes will continue until the last working day before Eid-ul-Fitr, or until the stock ends.

The currency packets will be provided on presentation of original Computerized National Identity Cards (CNIC) along with its photocopy for record.

Banks’ branches, however, may also issue a maximum of 5 packets each of Rs 10/-and Rs 20/- denomination fresh notes to their corporate clients on receipt of request on the company’s letterhead duly signed by authorized representative.

Short URL: https://www.newspakistan.pk/?p=29967

Posted by Fayyaz Yaseen on Jul 30 2012. Filed under Business, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry