Officials said on Tuesday that the State Bank of Pakistan has allocated fresh currency notes totaling 27 billion rupees to commercial banks nationwide in anticipation of Ramadan.
The central bank has distributed new banknotes to some 17,000 commercial bank branches across the country, guaranteeing ample availability during the holy month when demand for money typically rises.
The State Bank has provided explicit directives to banking institutions concerning efforts to enhance public access to the new notes. Commercial banks have been instructed to efficiently deploy their ATM networks to disseminate high-quality, pristine cash notes during Ramadan.
The State Bank has established specialized cash monitoring teams to police compliance and facilitate effective distribution at multiple bank locations. These teams will ensure that banks adhere to the established rules for currency distribution.
The program seeks to mitigate the seasonal surge in demand for fresh currency notes, especially prior to Eid celebrations, when the tradition of gift-giving using new notes is prevalent in Pakistan.
