SBP issues fresh banknotes worth Rs168 billion on Eid-ul-Azha 2017
KARACHI: The State Bank of Pakistan issued fresh bank notes of Rs168 billion on the occasion of Eid-ul-Azha 2017.
To meet the increasing demand for fresh bank notes, the SBP Banking Services Corporation (BSC) made elaborate arrangements with a focus to cover maximum stakeholders including the general public, a SBP press release stated.
The fresh notes included lower denomination notes (up to Rs100) of Rs8 billion and higher denomination banknotes (Rs500 and above) of Rs160 billion, which is meant for heavy payments and ATM needs of commercial banks.
To ensure maximum issuance, all 16 field Offices of the State Bank of Pakistan BSC issued fresh notes to the general public from its counters before Eid-ul-Azha.
In addition to this, the commercial banks were also issued lower denomination fresh bank notes worth Rs7 billion to disburse the same to the public and their accounts holders.
The State Bank of Pakistan issued Rs161 billion fresh notes on previous Eid-ul-Azha, which means that this Eid the central bank has issued Rs7 billion more.