SBP issues new notes worth Rs 80 billion

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SBP Diary - SBP News



The State Bank of Pakistan issued fresh currency notes worth Rs 80.6 billion during Ramzan to facilitate general public on the occasion of Eid-ul-Fitar. The SBP Banking Services Corporation (BSC) has made special arrangements for the supply of adequate quantity of fresh currency notes particularly of small denominations.

The State Bank is fully utilising the large network of over ten thousand branches of commercial banks all over the country, and all field offices of SBP BSC for distribution of fresh currency notes to the general public during the holy month of Ramzan 2013. SBP has also set up 90 Express Delivery Centers in the certain commercial bank branches in selected cities to freely issue fresh notes in abundance. A representative of SBP BSC is also present at these express centers to ensure maximum, efficient and transparent disbursement. The State Bank had already announced to issue Rs 135 billion new currency notes before Eid to meet demand of people.

According to official statistics, the SBP has issued some 988 million pieces of Rs 10, Rs 20, Rs 50, Rs 100, Rs 500, Rs 1000 and Rs 5,000 till August 2013 through bank branches, SBP BCS offices and special express offices. The detail analysts revealed that State Bank had issued Rs 10 denomination currency notes worth Rs 5.3 billion, Rs 20 notes worth Rs 2.7 billion, Rs 50 notes worth Rs 5.8 billion, Rs 100 notes worth Rs 14.4 billion, Rs 500 notes worth Rs 11 billion, Rs 1000 notes worth Rs 39 billion and Rs 5000 notes worth Rs 2.4 billion during twenty days from (July 12 to August 2, 2013).

According to SBP BSC offices have started issuance of fresh notes from their counters from July 12, 2013, and will continue to issue fresh currency notes till today (the last working day before Eid-ul-Fitr). The SBP BSC has also established a Help Desk which may be contacted at the telephone number 021-32455470, if any one facing problem, in obtaining fresh currency notes from commercial banks. While, Complaints may also be lodged through email freshnotes@sbp.org.pk or with the Chief Spokesperson (Acting) State Bank of Pakistan at his email address: umar.siddique@sbp.org.pk The SBP BSC has put in place a mechanism for penalising the banks found violating SBP instructions with regards to issuance of fresh currency notes to the general public.



Courtesy: BR


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