State Bank’s SMS Service for Fresh Currency Notes Receives Overwhelming Response

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The 8877 SMS service launched by State Bank of Pakistan (SBP) for the issuance of fresh currency notes for Eid-ul-Fitr 2018 has received a very positive public response, according to SBP.

The service, launched on 31st May, 2018, attracted a booking from around 2.3 million people in a short span of 4 days against arrangements made at 1,535 branches in 132 cities. This is considerably higher than the 1,018 branches nominated in 120 cities on last Eid-ul-Fitr.

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

Bookings will be gradually closed in those cities where branches 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 the code’s validity. The status of all the branches where the booking is still available is continuously updated at the SBP and PBA websites.

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 SBP.

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