Fresh currency notes from August 01

KARACHI: The State Bank of Pakistan (SBP) on Monday decided to fully utilize large network of over 10,000 branches of commercial banks for distribution of fresh currency notes to general public during holy month of Ramazan-ul-Mubarak, 2012.

SBP Banking Services Corporation SBP BSC made elaborate arrangements for supply of adequate quantity of fresh currency notes particularly of small denominations (Rs 10/- to Rs 100/-) to commercial banks depending upon their branch network.

Commercial banks branches will issue only one packet each of Rs 10/- and Rs 20/- per person to visiting general public/ account holders from August 1, 2012 till last working day before Eid-ul-Fitr 2012 (or until stock ends) on presentation of original Computerized National Identity Card (CNIC) along with its photocopy for record.

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