The State Bank of Pakistan (SBP) has announced a distribution of Rs 27 billion to the latest currency notes in commercial banks across the country for the preparation of Ramadan. The move, announced on Tuesday, aims to meet the climate increase in the demand for new notes during the holy month.
About 17,000 commercial bank branches have received fresh notes across the country, which ensure their widespread availability. The SBP has issued specific guidelines for banking companies to facilitate public access to these new notes, including the effective use of ATM networks for distribution.
To ensure smooth and effective distribution of currency, the central bank has deployed special surveillance teams to monitor operations in various branches. These teams will ensure that the bank is following the fixed protocol for currency distribution.
The move indicates the increase in the demand for fresh notes, especially in connection with the Eid celebrations, when the tradition of giving new notes is common in Pakistan.
