Updated on
Summary According to the SBP, all the banks will exchange Rs 500 old-design, bigger-size note till Sep 30.
The State Bank of Pakistan (SBP) has again directed all banks including the microfinance ones to facilitate the general public in exchange of Rs 500 old-design, bigger-size note. The note is to be demonetized from the first of October. According to a statement, the State Bank of Pakistan and SBP Banking Services Corporation will neither exchange nor be liable to pay any value of such banknotes to any person or a bank after September. All banks and 16 field offices of SBP Banking Services Corporation have been advised to prominently display the date of demonetisation and acceptability of the notes at visible places in all their branches, the statement further said.
