I RECENTLY visited a bank in Turbat for an online deposit in one of its Karachi branches. After filling the deposit slip, I went to the cashier. I had some 10 rupee notes but the cashier told me that the bank would not accept these notes. I was shocked.
On being asked the reason, he told me that the one who would receive money in the Karachi branch would not accept these notes. This ‘logic’ was a shock for me. I wondered if these notes were Pakistani currency.
When I insisted on depositing the money, he told me that since the State Bank of Pakistan was not in Turbat therefore he could not accept either. I was surprised to hear this.
I wonder if the SBP has really ordered banks not to accept 10-rupee notes or perhaps bank staff do not accept these notes to avoid counting so many bills.
Whatever may be the case, the question remains: where should a customer go with 10-rupee notes? Isn’t it the responsibility of the banks to accept currency notes of all denominations?
The SPB should clarify the issue.
Published in Dawn, February 5th, 2020