KARACHI, Oct 5: The State Bank has informed all banks that it will charge a fee of Rs100,000 for renewal of banking licence and that of Rs25,000 for renewal of branch licence.

But the central bank has told them through a circular that it will charge branch renewal fee only for branches operating in big cities and will not charge any fee for renewal of those branches that are not operating there.

The term big cities will apply on Karachi, Lahore, Hyderabad, Islamabad/Rawalpindi, Peshawar, Quetta, Faisalabad, Multan, Sialkot and Gujranwala.

The SBP circular issued to notify the above decision says that the central bank will also charge a fee of Rs5,000 for shifting of branches to and within these big cities.

It says that the renewal fee for banking and branch licences will be payable by 7th of January every year. "The fee for shifting of branches will be payable at the time of submission of request for this purpose."