National Bank of Pakistan (NBP) located in Karachi has recently encountered a concerning issue regarding misprinted currency notes of Rs1000 denomination issued by the State Bank of Pakistan (SBP), prompting an investigation into potential negligence.
In a video that surfaced online, a manager from the National Bank branch in Karachi showcased the ‘one-side blank’ currency notes of Rs1000 denomination issued by the State Bank of Pakistan (SBP). The manager voiced concerns over the bundles of misprinted Rs1000 notes received that morning, highlighting that one side of the notes was completely blank.
The matter gained attention when a customer returned such misprinted currency notes to the bank staff. Subsequently, upon inspection of the newly-arrived notes, it was discovered that all Rs1000 denomination notes were one-side blank.
In response to the issue, a spokesman for the central bank stated that the matter had been forwarded to the relevant department for investigation.
This incident comes in the wake of last year’s December, when the Senate Standing Committee on Finance expressed alarm over the widespread circulation of Rs5000 notes, some of which even officials of the State Bank of Pakistan (SBP) failed to recognize.
During the committee meeting chaired by PPP Senator Salim Mandviwala, who highlighted the seriousness of the situation by presenting a bundle of counterfeit Rs5000 notes, concerns were raised about the penetration of fake notes into circulation through banking channels.
In the meeting, Senator Mandviwala urged swift action from the central bank to combat the proliferation of counterfeit currency. Additionally, he pointed out the lack of a system to prevent the printing of fake currency within the country, a concern echoed by SBP Deputy Governor Dr. Inayat Hussain.
In light of these developments, there is a pressing need for enhanced vigilance and regulatory measures to safeguard against the circulation of counterfeit currency within the banking system.
