Last Updated: March 14, 2024, 16:02 IST
A person counts Pakistani rupee notes at a forex alternate store in Peshawar, Pakistan September 12, 2023. (Reuters)
Pakistan’s central financial institution investigates misprinted Rs 1,000 banknotes after viral video. Exchange obtainable at designated financial institution branches and central financial institution workplaces nationwide
Pakistan’s central financial institution has stated it was investigating how some misprinted banknotes of Rs 1,000 denomination have been issued by it to industrial banks, after a video went viral displaying the bottom of a few of these notes as clean, in response to a media report on Thursday.
A spokesperson for the State Bank of Pakistan (SBP) stated the industrial banks and people who’ve acquired the defective notes can alternate them on the financial institution branches from the place they acquired such notes and on the designated 16 workplaces of the central financial institution nationwide, The Express Tribune newspaper reported.
In money stripped Pakistan, Fake Currency Notes Make Their Way Into Pakistan National Bank.A National Bank of Pakistan department in Karachi acquired bundles of misprinted one-sided rupees issued by the State Bank of Pakistan.
Pakistan suspects ‘Unknown Men’ behind this error pic.twitter.com/douRRsGuAI
— Mahaveer Jain (Modi Ji Ka Parivar) (@Mahaveer_VJ) March 13, 2024
A one-minute video had gone viral earlier displaying no printing on the bottom of some Pakistani Rs 1,000 notes. The one who shot the video didn’t seem in entrance of the digicam however recognized himself as a National Bank of Pakistan (NBP) department supervisor in Model Colony, Karachi, the report stated. Displaying the misprinted notes in his hand, the person acknowledged that they’d acquired contemporary forex notes of denominations Rs 1,000, Rs 500, and Rs 5,000.
While the misprinted notes appeared excellent from the entrance, nevertheless, when he turned the notes over, the bottom printing was incomplete. He claimed that many packets of contemporary forex notes had already been delivered to prospects and expressed unawareness of what number of of them have been misprinted.
The difficulty got here to gentle when a buyer returned two such notes to the financial institution, he stated. The supervisor displayed one other packet of Pakistani Rs 1,000 notes containing two misprinted notes. He later claimed that each bundle contained a minimum of two misprinted notes. When NBP was approached to confirm the authenticity of the video, an official acknowledged that the case had been dropped at the eye of prime administration and was underneath investigation.
The SBP official additional stated that the issued notes nonetheless retained their security measures and can be checked by officers at public counters when folks got here to alternate the misprinted notes. He defined that whereas the printing press prints thousands and thousands of notes in a single cycle, regardless of having a strong system in place to double-check the standard and reject misprinted notes, there’s nonetheless an opportunity for some misprinted notes to be mistakenly circulated.
A press assertion issued by the central financial institution added that solely 10 misprinted notes have been issued to NBP’s Model Colony department. It acknowledged that misprinted banknotes acquired by the general public or industrial banks could possibly be exchanged for match banknotes at any workplace of the State Bank of Pakistan Banking Services Corporation (SBP-BSC) throughout the nation underneath the State Bank of Pakistan (Note Refund) Regulations, 1963.
(This story has not been edited by News18 employees and is printed from a syndicated news company feed – PTI)
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