KARACHI: 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 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 letter head duly signed by authorized representative.
With a view to redress grievances of general public, if any, in obtaining fresh currency notes from commercial banks, SBP BSC established a Help Desk which may be contacted on telephone numbers 021-32455470 and 021-32455454. Complaints may also be lodged at: [email protected] or with Chief Spokesperson, SBP at his email address: [email protected]
SBP BSC put in place a mechanism for penalizing banks in case any irregularity is committed by them in issuance of fresh currency notes. Penalty will also be imposed on banks found violating SBP instructions on issuance of notes to general public during Ramazan-ul-Mubarak, 2012, SBP press release said.
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