The State Bank of Pakistan (SBP) is investigating the circulation of Rs1,000 banknotes with printing errors, despite stringent quality controls to prevent such issues. The bank acknowledged that some misprinted notes might have been inadvertently distributed to the public through commercial banks. Affected individuals and institutions can exchange these defective notes at any of the 16 designated SBP offices across the country.
The investigation was sparked by a viral video from a branch manager in Karachi, showcasing Rs1,000 notes lacking printing on one side. The National Bank of Pakistan (NBP), where the incident was reported, confirmed that the matter was under serious investigation following a customer’s complaint about the faulty notes.
The SBP reassures that these notes still possess their security features and will be thoroughly inspected upon exchange. The incident, involving a small number of misprinted notes found in a batch delivered to NBP’s Model Colony branch, highlights the challenges of large-scale banknote production and the inherent possibility of occasional errors. The central bank emphasizes its commitment to enhancing internal controls to minimize such occurrences in the future.
