Karachi: Old-design notes of Rs500 will be demonetized from October first and The State Bank of Pakistan (SBP) has said that its 16 field offices would remain open till midnight today to facilitate general public to exchange Rs500 old-design, bigger-size note.
According to a statement issued here today, the SBP 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.
The statement noted that The SBP has already supplied posters in both English & Urdu languages regarding the demonetization and exchange of the note to SBP Banking Services Corporation and all banks for placement at prominent places in their field offices and branches as well as at public places.
According to The News Tribe correspondent from Karachi, all banks and 16 field offices of SBP Banking Services Corporation have been directed to exchange Rs500 old-design notes till midnight today.
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