SBP Not to Issue Fresh Currency Notes This Eid – Research Snipers

SBP Not to Issue Fresh Currency Notes This Eid

fresh currency notes

The State Bank of Pakistan (SBP) will not be issuing any fresh currency notes this year on Eid.

The decision was taken as a preventive step to divert the spread of the novel coronavirus among the public at large via the currency notes, which are a possible carrier source of the virus.

The entire system of printing and circulating the fresh currency notes will surge human interaction. Majorly, it will increase the visits of hundreds of customers to the banks’ branches and could put the preventive protocol of social distancing at risk and could also lead to the spread of COVID-19 from customers to other customers or bankers.

Also Read: Sindh Traders to Reopen Businesses from Ramazan 15

Also, the fresh currency notes that are given out to the children and also to other individuals, on Eid-ul-Fitr could place them at risk of acquiring COVID-19, hence the tradition of cash gifts will be highly risky this year.

The State Bank informed about this decision to the banks’ officials in a circular. This news will put the kids in disappointment however, it has come as a huge relief for the bankers as they will not be now put through the tedious task of cash distribution among the customers.

The bankers are already feeling overloaded because of the many schemes that the central bank has announced for the customers and businessmen.

Since the past few years, the central bank has got an SMS-based system for the fresh currency notes distribution before Eid-ul-Fitr and Eid-ul-Azha.

Last year Rs.284 billion fresh currency notes were issued by the State Bank for the various sects.

More Read: Govt. to Release Employees’ Salaries, Pensions before Eid

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