State Bank’s Fresh Currency Notes Service 8877 Receives Overwhelming Public Response : AsiaNet-Pakistan

State Bank’s Fresh Currency Notes Service 8877 Receives Overwhelming Public Response

June 4, 2018 | General Business News | Share:

Karachi, June 04, 2018 (PPI-OT): The SMS service launched by State Bank of Pakistan for issuance of fresh note for Eid-ul-Fitr 2018 attracts a huge response. State Bank of Pakistan appreciates the interest shown by the general public in its 8877 SMS service for getting fresh notes for Eid. This service launched on 31st May 2018 has attracted a booking of around 2.3 million people in a short span of 4 days against arrangement made at 1535 branches in 132 cities as compared to 1018 branches nominated in 120 cities on last Eid-ul-Fitr 2017.

The total booking limit of 2.7 million customers has also been increased this year by 50% as compared to 1.8 million customer limit last year. The total capacity of this system is constrained by the number of customers that branches can accommodate on each day and the store of fresh notes available with SBP BSC which is also linked with the capacity to print.

At present, more than 85% bookings have been issued to members of general public as booking of this service is available 24/7 hours and it is expected that the system will reach full limit in the next couple of days. Accordingly, booking would stand closed once the targeted figure of 2.7 million is achieved. Bookings will be gradually closed in those cities where branches will reach their full capacity utilization. However, the issuance of fresh notes against the already issued booking codes will continue till the last day of the service June 14, 2018 subject to code’s validity.

The status of all the branches where booking is still available is continuously updated at the State Bank and PBA websites. The general public is therefore requested to check the branch status before sending messages to avoid charges and inconvenience. It would be pertinent to mention that apart from this SMS service, banks may continue to provide fresh notes to their customers from their branches and ATMs as sufficient quantity is being provided to them by State Bank.

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

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Category: General Business News