Rs.5000 notes in Pakistan News in Pakistan

Fake rumors regarding the ban of Rs.5000 notes in Pakistan Rumors about the Discontinuation of Rs.5000 Notes Are Absolutely False: SBP. There are rumors circulating on social media that the government of Pakistan is all set to ban the Rs.5000 Notes in the country and soon discontinue them. The State Bank of Pakistan (SBP) has officially declared that the people don’t pay heed to these rumors as the bank has no plan to ban Rs.5000 notes in the country. SBP has clearly refuted the rumors and requests the general public to pay no heed to such deception. It is further mentioned that the SBP Act, 1956 clearly states the roles and responsibilities of different institutions including SBP for issuance, spread and demonetization or withdrawal of banknotes. Under the section 25 ACT the Federal Government need recommendation of SBP Board of Directors before making the decision of demonetization or cancellation of banknotes. The State bank of Pakistan (SBP) has clarified that the bank has not issued any recommendation to Federal Government or Cabinet regarding the ban of Rs.5000 notes or other notes in the country. it is important to mention here that if SBP takes decision to ban and discontinue the banknotes the official announcement will be made, and the general public will be given specific time to exchange the currency under demonetization process. The State Bank of Pakistan (SBP) always makes all such announcements on its official website and the rumors regarding the discontinuation of Rs.5000 notes are completely false. The general public don’t need to pay attention to such rumors and for further queries and details they can visit the official SBP website (www.sbp.org.pk), Facebook page https://www.facebook.com/StateBankPakistan) and Twitter account before forwarding the same to their contacts. You can follow us on Twitter, add us to your circle on Google+ or like our Facebook page to keep yourself updated on all the latest from Technology, Entertainment, Sports, Gadgets, Latest Government Jobs, Cooking Recipes, Health and Beauty, Autos and Vehicles and Much.