State Bank rejects reports regarding old Rs500 currency note

Karachi: The State Bank of Pakistan on Wednesday rejected all the rumors and media reports claiming that it has no record of the old Rs500 currency notes demonetized in 2012.

A statement issued by the bank said, “The SBP categorically denies and rejects the media reports regarding unavailability of the record of old design Rs.500 banknotes demonetized in Oct 2012.

The destruction of banknotes is an ongoing activity and is carried out across the country at field offices of SBPBSC, the record for the same is available in respective field offices.

The Audit team however, just visited SBPBSC Karachi and assumed that the record available at Karachi is the total record available with the SBP, which is factually incorrect”.

The State Bank of Pakistan said complete record of banknote’s destruction is available at SBPBSC field offices located in 16 cities across the country.