Old Rs500 notes: Oct 1 last date to exchange notes: SBP

RECORDER REPORT

KARACHI: State Bank of Pakistan (SBP) has reminded the general public to exchange old design and bigger size banknote of Rs500 from the field offices of SBP Banking Services Corporation (SBP BSC) and over 10,000 branches of banks throughout the country till the close of banking hours on October 01, 2012.

The SBP/SBP BSC will neither exchange nor be liable to pay any value of such banknote to any person or a bank after the above mentioned deadline.

It may be recalled that Rs500 old design and bigger size banknote had already been demonetized by the federal government and, hence, cannot be used as a legal tender. However, it can be exchanged from the field offices of SBP BSC and branches of banks till October 01, 2012.