Rs. 75 Bank Note is Still Fully Legal: State Bank
The State Bank of Pakistan (SBP) has categorically rejected the demonetization of the Rs. 75 commemorative banknotes. Several shopkeepers across the country refused to accept Rs. 75 notes during Eid ul Fitr, sparking speculation about the banknote’s demonetization.
SBP spokesperson Abid Qamar explained that the commemorative banknote is legally genuine, just like any other currency note, in a video message released on the central bank’s official Twitter feed.
He also highlighted the Rs. 75 banknotes, which were printed last year to commemorate the country’s 75th anniversary of independence.
Section 25 of its Act requires the SBP to issue all currency notes. The Rs. 75 commemorative banknote has no expiry date and can be used for any purpose.
He also rejected claims that the government had canceled or withdrawn the currency.