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State Bank of Pakistan repudiates any new changes in currency design

source: online

KARACHI: State Bank of Pakistan had denied any new changes in Pakistani currency notes designs.

Photos with new currency designs were circulating on the internet, after which SBP took to its Twitter handle and declared the news as fake.

The central bank wrote, “Some fake news regarding new designs of currency notes is circulating on social media. SBP categorically denies the news and clarifies that no such proposal is under consideration at the moment.”

A few pictures of plastic currency notes circulated on social media with official stamps. The rebranded currency notes were of denominations of Rs50, Rs100, Rs500, and Rs1,000. 

Read also: SBP introduces new loan scheme for SMEs

Meanwhile, SBP’s Governor Dr. Reza Baqir had announced earlier, that banks have shown an overwhelming response to an innovative financing scheme for collateral-free lending to SMEs.

It was the first time a comprehensive collateral-free SME lending scheme had been introduced by SBP in the country. Out of 20 banks that competed for participating in this scheme, eight banks under four categories were selected on the basis of the highest amount of finance and highest number of SME clients to be served.

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