Rs500 old banknotes: SBP asks banks to facilitate public

RECORDER REPORT

KARACHI: The State Bank of Pakistan (SBP) has once again asked all banks operating in the country to issue necessary instructions to their branches to facilitate general public in exchanging Rs 500 old design & bigger size banknote. The last date for exchanging this banknote from the field offices of SBP Banking Services Corporation (SBP BSC) and branches of all banks is October 1, 2012 (till banking hours).

Branches of banks/NBP Chests/Sub-Chests should display posters/banners regarding the last date for the acceptance of the demonetised Rs 500 old design & bigger size banknote, at public counters and other visible places in and outside their branches, the State Bank in a communication to banks reiterated Wednesday.

The State Bank of Pakistan and SBP BSC will neither exchange nor be liable to pay any value of such banknote to any person or a bank after October 1, 2012.