State Bank of Pakistan to Issue Fresh Cash Notes for Eid from June 1

By Atiya Riffat

The State Bank of Pakistan (SBP) on Tuesday reported that it will issue fresh money notes to overall population from June 1 to exchange with old ones for Eid-ul-Fitr celebrations.

The State Bank had issued Rs 342bn fresh cash notes on Eid ul Fitr in 2017 which was 44 for each penny higher than 2016. The State Bank had issued Rs 342bn new cash notes on Eidul Fitr in 2017 which was 44 for each penny higher than 2016.

The SBP in a joint effort with Pakistan Banks Association (PBA) set up SMS short code 8877 for issuing fresh money notes, which will be issued amid June 1 to 14.

The SBP said under this office, a man may send a SMS message including his or her 13 digits CNIC or Smart Card number alongside the coveted e-branch ID. The system will react with sending exchange number and branch address.

In the wake of sending this message, the client will get a reaction through a SMS, and will be advised with a code that he/she should show at the bank for getting fresh money notes.

If there should be an occurrence of no reaction is gotten — the quota for new money notes for that specific branch is come to — the client should send another request with another branch ID.

The charges for the service are Rs1.50 in addition to tax, per SMS.

Under the SMS service, each CNIC number and cell phone number must be utilized once. No exchange code will be issued to senders on the off chance that they send same CNIC/samart card number from various mobile numbers or addresses.

A help desk has additionally been built up at (021)- 111-008-877 to engage inquiries/grumblings of overall population.

The endorser would need to introduce his unique CNIC at the time of accepting new cash notes. Every subscriber can exchange and get three bundles of Rs10, and each bundle of Rs50 and Rs100.

This facility will be accessible at 1,535 business bank.

The number of cities, where clients can get fresh money notes, has been additionally expanded from 120 to 132.