SBP asks people to exchange Rs 500 old design notes by Sept

KARACHI: The State Bank of Pakistan (SBP) has reminded the general public to exchange old-design and bigger size bank notes of Rs 500 denomination.

In an announcement here on Tuesday, it said that the notes could be exchanged from field offices of SBP Banking Services Corporation and the branches of all commercial banks throughout the country up to 30th September, 2011.

It may be recalled that the Federal Government has already notified that the old-design bank note of Rs 500/- (introduced in April 1986) will be demonetized with effect from Oct 1st, 2011.