The State Bank of Pakistan (SBP) has reminded the general public to exchange old design and bigger size banknote of Rs 500 from the field offices of SBP Banking Services Corporation (SBP BSC) and over 10,000 branches of banks throughout the country till the close of banking hours on October 01. The SBP and SBP BSC would neither exchange nor be liable to pay any value of such banknote to any person or a bank after the above mentioned deadline, the central bank said. It may be recalled that Rs 500 old design and bigger size banknote had already been demonetized by the Federal Government and, hence, cannot be used as a legal tender. However, it can be exchanged from the field offices of SBP BSC and branches of banks till October 01, 2012.
