Old bank**tes cease to be legal tender from Dec 1st
 

ISLAMABAD: The old design bank**tes will cease to be legal tender with effect from December 1, 2016 as per Federal Government’s Gazette **tification.

According to SBP **tification, it has **w been decided to phase out all remaining old design bank**tes of Rs 10, 50, 100 and 1000 while the Rs 5 bank**te and the old design Rs 500 bank**te have already been demonetized.

It is worth mentioning that SBP issued a new design bank**te ******, which started with the issuance of Rs 20 de**mination bank**te in 2005, to improve the security, durability and aesthetic quality of bank**tes.

The process of issuance of complete ****** of new design bank**tes, comprising eight de**minations (Rs 5, 10, 20, 50, 100, 500, 1000 and 5000) was completed in 2008.

The commercial microfinance banks will accept the old design bank**tes of Rs 10, 50, 100 and 1000 and exchange the same with the new design bank**tes and coins of all de**minations up to 30th **vember 2016 only.

However SBP BSC field ******s will continue to accept the old design bank**tes of Rs 10, 50, 100 & 1000 from general public up to December 31, 2021.

The last day to exchange all old design bank**tes from banks is **vember 30, 2016.

All old design bank**tes shall cease to be legal tender on December 01, 2016 while last day to exchange all such bank**tes from SBP BSC field ******s is December 31, 2021, it added.



http://feeds.feedburner.com/~r/com/YEor/~4/lIc-XWSqSHY

أكثر...