The State Bank of Pakistan (SBP) has decided that all its field offices and commercial banks throughout the country will issue one packet each of Rs 10 and Rs 20 denominations fresh currency notes.
This step has been taken with a view to facilitating the general public and other stakeholders in obtaining fresh currency notes before Eidul Fitr, central bank's field offices and commercial banks throughout the country will issue one packet each of Rs 10 and Rs 20 denominations fresh currency notes to one person from their counters once during Ramazan.
SBP field offices have started issuing these currency notes from Ramazan 2, while commercial banks will issue fresh currency notes from Ramazan 5 till the last working day before Eidul Fitr (or until the stock ends) on production of original Computerised National Identity Card along with its copy for record.
Commercial banks will also issue one packet each of these currency notes during the above-mentioned period to their account holders on production of cheques. However, the account holders may also obtain packets of fresh currency notes in exchange of cash on their written request.
Moreover, the commercial banks will issue a maximum of five packets each of Rs 10 and Rs 20 denominations fresh notes to corporate bodies on receipt of request on the company's letterhead duly signed by the authorised representatives. These steps of the State Bank of Pakistan will help eliminate the black marketing of fresh currency notes during Ramazan.
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