Fresh 50, 100 Notes to be Issued ‘Without Staples’

The State Bank of Pakistan (SBP) on Monday decided to issue fresh bank notes of Rs 50 and Rs 100 denominations without staples but with proper banding.

Accordingly, all SBP Banking Services Corporation [BSC] offices/branches will issue fresh currency notes of Rs 50 and Rs 100 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 notes in re-issuable form and issue them to the general public in properly banded form.

The SBP clarified that both the stapled and unstapled notes of Rs 50 and Rs 100 would continue to remain in circulation till such time that the banks withdraw stapled notes in non-issuable condition, leaving behind only unstapled clean notes.

The SBP BSC has made special arrangements across the country for ample supply of fresh and re-issuable notes of good quality to the public and withdraws unprecedented quantity of soiled-defective notes from circulation…