September 30 deadline nears: banks to facilitate public in exchanging Rs 500 old notes

The State Bank of Pakistan has again reminded all banks including the Microfinance Banks (MFBs) operating in the country to facilitate the general public in exchanging Rs 500 old design (bigger size) banknote within the stipulated deadline of September 30, 2011.
The State Bank of Pakistan/SBP Banking Services Corporation will neither exchange nor be liable to pay any value of such banknote to any person or a bank after the abovementioned deadline as from October 1, 2011 the old design Rs 500 banknote will cease to be a legal tender, says a circular issued by SBP Wednesday.
All the banks and 16 field offices of SBP Banking Services Corporation have been advised to prominently display the dates of demonetisation and acceptability of Rs 500 old-design banknote at visible places in all their branches. With a view to redressing the public grievances in exchange of Rs 500 old design banknote, SBP BSC has also established a central Help Desk at its Head Office in Karachi which may be contacted on the telephone numbers: 021-99212491, 021-32455454 & 021-32455470. Complaints may also be lodged at the email address:drs500@sbp.org.pk or with the chief spokesman, State Bank of Pakistan at his e-mail address: syed.wasimuddin@sbp.org.pk.