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www.thefinancialdaily.com
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SBP hits new notes’ black-marketing
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Jamil Siddiqui KARACHI: State Bank of Pakistan has formed special teams to conduct enquiries on the culprit banks who flouting its directives and instead of providing small denomination currency notes to the customers are selling them at premium price. According to a survey conducted by The Financial Daily many banks are refusing issuance of the new currency notes of different denominations with the excuse that after exhaustion of the stock released by State Bank of Pakistan they are unable to provide the new currency notes. Meanwhile after unearthing the scam that banks are selling the new currency notes at premium price State Bank teams have started to match the serial numbers of the currency notes they supplied to the banks against the new currency notes found in possession of the blue eyed or those persons who are selling them at a premium price. It was also learnt that MCB Bank has also issued warnings to the banks using its shared M-net facility to provide ATM services at their branches to refrain from any malpractice and ensure uninterrupted supply that it has the necessary cash available for the ATM users through out the Eid Holidays and warned that if any such case for violation will be noticed the concerned bank will be taken to task.
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