September 30 Is The Last Day Of RS.500 Note

30 September, 2011
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KARACHI: The State Bank of Pakistan (SBP) on Thursday once again reminded the general public that September 30 is the last date for exchanging Rs500 old design and bigger size bank note, a statement said.

The central bank said that the banknote can be exchanged from the field offices of the SBP Banking Services Corporation and branches of all banks, including microfinance banks (MFBs) operating in the country, it said.

The State Bank or the SBP Banking Services Corporation will neither exchange nor be liable to pay any value of such banknote to any person or a bank after the abovementioned deadline as from October 1 the old design (bigger size) Rs500 banknote will cease to be a legal tender, the statement said.

The SBP had already asked all banks, including microfinance banks to facilitate the general public in exchanging Rs500 old design (bigger size) banknote within the stipulated deadline of September 30.

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