The State Bank of Pakistan (SBP) on Tuesday 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 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 forthwith and issue the same 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.
The people are also requested to ensure that soiled-mutilated, torn and dirty notes are replaced with clean and good quality notes.
To achieve this objective, the people are advised not to put staple pins or any other sticky binding material on these notes.
As part of the "SBP Clean Note Policy" and on the recommendations of the task force on currency management, bank notes of Rs 5 and Rs 10 denominations are being issued without staple pins since October 2003.
As a step further, the SBP has also decided to issue bank notes of Rs 50 and Rs 100 denominations without staples.