Daily The Business

Rs 274 billion fresh currency to banks on Eid-ul-Azha: SBP

General public denie receiving new notes

Our Special Correspondent

LAHORE: The State Bank of Pakistan (SBP) has claimed that through 16 field offices of its subsidiary SBP Banking Services Corporation (SBP BSC), issued fresh banknotes of various denominations aggregating to Rs.284 billion, including Rs.274 billion via commercial banks and Rs.10 billion via cash counters of SBP BSC , during days leading to Eid-ul-Azha.
However, the banking customers and general public have denied
receiving any fresh currency notes provided to them by the commercial
banks.
A customer of the National Bank of Pakistan on the condition of
anonymity said that he contacted his branch for fresh currency notes
but the bank provided him with no new notes.
Another, Customer of MCB Bank Muhammad Waseem also denied that his branch at the Davis Road, Lahore refused him any new notes on on
Eid-ul-Azha.
The SBP said that out of the total notes issued to commercial banks,
Rs. 12 billion of lower denominations (upto Rs.100), fresh notes have
been provided for onward distribution among general public and account
holders.
SBP BSC has also provided a sufficient quantity of fresh & good
quality ATM notes of higher denominations to commercial banks for
smooth ATM operations during the Eid Holidays. In this regard regard,
special teams of SBP and SBP BSC officials shall inspect and monitor
the working of ATMs across Pakistan to ensure uninterrupted
availability of cash to the general public during the Eid holidays.

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