SBP denies issuance of Rs10,000 banknote

KARACHI: The State Bank of Pakistan (SBP) has categorically denied the news item circulating in a section of social media regarding issuance of Rs10,000 banknote, a statement said on Friday.

The existing banknote denominations satisfactorily meet the payment, settlement and other allied needs of the economy and; thus, there is no need to issue higher denomination banknotes, it added.

The general public is advised not to pay heed to such rumours and check the authenticity of any news item related to banknotes on the central bank’s website and its social media accounts. The SBP regularly updates its website and social media pages and any news item associated with the central bank can be verified from these sources, it said.

Meanwhile, in another statement the central bank announced formal launching of its official Facebook page on the auspicious occasion of the Pakistan Day.

The dry run of the Facebook page was being conducted for quite some time. The launch is expected to attract students, academia, business circles, journalists and financial analysts alike who will now be able to access official announcements, event details, policy statements and data and have a better understanding of the bank and its functions, in general, it added.

SBP Governor Tariq Bajwa in his message expressed the hope that gradual expansion being made in communication tools would help the central bank keep itself abreast with the modern means of communication and interact with its stakeholders.

He said, “The SBP communications not only bridge the information gap of its stakeholders, but also promotes credibility and understanding of its policies and remove uncertainties in the best possible manner.” The SBP Facebook page can be found at 

https://www.facebook.com/StateBankPakistan/.