KARACHI, Nov 23: The State Bank has decided to issue fresh bank notes of Rs50 and Rs100 denominations without stapling but with proper banding.
The SBP in a statement here on Tuesday said that SBP Banking Service Corporation offices/branches would issue currency notes of Rs50 and Rs100 denominations in unstapled form with immediate effect.
Commercial banks have also been asked to ensure removal of pins from all notes of these denominations, including the notes in re-issuable form forthwith and issue the same to the general public in properly banded form.
The central bank has, however, clarified that both the stapled and un-stapled notes of Rs50 and Rs100 denominations would continue to remain in circulation till such time the banks withdraw the stapled notes in non-issuable condition, leaving behind only the unstapled clean notes.
The BSC has made special arrangements across the country for ample supply of fresh and re-issuable notes of good quality to the public and has withdrawn an unprecedented quantity of soiled/defective notes from circulation.
As a part of "SBP clean note policy" and on the recommendations of task force on currency management, bank notes of Rs5 and Rs10 denominations are being issued without staple pins since October 2003. -APP
