The State Bank of Pakistan (SBP) has announced the distribution of Rs 27 billion in fresh currency notes to commercial banks across the country in preparation for Ramadan. This move, announced on Tuesday, is aimed at meeting the seasonal increase in demand for new notes during the holy month.
Approximately 17,000 commercial bank branches nationwide have received the fresh banknotes, ensuring their widespread availability. The SBP has issued specific guidelines to banking institutions on how to facilitate public access to these new notes, including the efficient use of ATM networks for distribution.
To ensure the smooth and effective distribution of currency, the central bank has deployed specialized monitoring teams to oversee operations at various branches. These teams will ensure that the banks adhere to the prescribed protocols for currency distribution.
The initiative addresses the surge in demand for fresh notes, particularly in the lead-up to Eid celebrations, when the tradition of gifting new notes is common in Pakistan.
