{"id":67462,"date":"2026-08-26T04:55:07","date_gmt":"2026-08-26T04:55:07","guid":{"rendered":"https:\/\/newsvog.com\/ur\/67462"},"modified":"2026-08-26T04:55:23","modified_gmt":"2026-08-26T04:55:23","slug":"rs10-note-recommended-to-be-discontinued-by-sbp","status":"publish","type":"post","link":"https:\/\/newsvog.com\/ur\/67462","title":{"rendered":"Rs10 note recommended to be discontinued by SBP"},"content":{"rendered":"


\n<\/p>\n

\n

ISLAMABAD: The State Bank of Pakistan (SBP) has recommended discontinuing the Rs10 banknote, the central bank\u2019s deputy governor told the Senate Standing Committee on Finance and Revenue on Tuesday.<\/strong><\/p>\n

The committee meeting was held under the chairmanship of Senator Saleem Mandviwalla, who also expressed serious concern over reports of counterfeit Rs5,000 and Rs1,000 notes being dispensed by bank ATMs.<\/p>\n

The deputy governor briefed the committee on the ongoing process for introducing new currency notes, saying that the government had constituted a ministerial committee, headed by the finance minister, to oversee the design and issuance of the new notes.<\/p>\n

He said the ministerial committee had approved the designs and that the SBP was working to ensure the new notes met the required security standards.<\/p>\n

The deputy governor said the new notes could take another year to be introduced even after approval by the federal cabinet.<\/p>\n

He said the SBP had recommended discontinuing the Rs10 banknote, while the federal cabinet would decide the denominations of the new currency notes.<\/p>\n

Read Also:<\/strong>\u00a0Bank ATMs dispensing counterfeit Rs5,000 notes, says Senate panel<\/a><\/strong><\/p>\n

Responding to a question from Senator Abdul Qadir about the cost of producing a Rs5,000 note, the deputy governor said one such note costs around Rs14 to produce.<\/p>\n

Senator Mandviwalla questioned the process of appointing consultants for the new currency notes, saying the SBP had hired a consultant for designing the notes.<\/p>\n

\u201cThis does not happen anywhere in the world. All details of this tender should be provided,\u201d Mandviwalla said.<\/p>\n

He said the committee should also receive a briefing from an international banknote printing company on the currency production process.<\/p>\n

Senator Shahzeb Durrani said the SBP had been working on the new currency notes for two years but had yet to complete the process.<\/p>\n

\u201cTwo years have passed, but the State Bank has not been able to complete this work,\u201d he said.<\/p>\n

Mandviwalla remarked that he did not expect the new currency notes to be introduced during the current senators\u2019 term.<\/p>\n

He also questioned what guarantees would be in place to prevent counterfeit notes from being produced once the new currency was introduced.<\/p>\n

Officials told the committee that the entire currency production process would be revamped and that the new system would significantly reduce the production of counterfeit notes.<\/p>\n

Officials further explained that the design of the original banknote would initially be prepared manually before being processed through machines for production.<\/p>\n

The committee also sought details of the tendering process and measures being taken by the SBP to prevent counterfeit currency from entering circulation through banking channels.<\/p>\n<\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD: The State Bank of Pakistan (SBP) has recommended discontinuing the Rs10 banknote, the central bank\u2019s deputy governor told the Senate Standing Committee on Finance and Revenue on Tuesday. The committee meeting was held under the chairmanship of Senator Saleem Mandviwalla, who also expressed serious concern over reports of counterfeit Rs5,000 and Rs1,000 notes being dispensed by bank ATMs. The…<\/p>\n","protected":false},"author":1,"featured_media":67463,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-67462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"taxonomy_info":{"category":[{"value":16,"label":"Pakistan"}]},"featured_image_src_large":["https:\/\/newsvog.com\/ur\/wp-content\/uploads\/rs-10-note-1024x555.jpg",1024,555,true],"author_info":{"display_name":"frkhokhar@gmail.com","author_link":"https:\/\/newsvog.com\/ur\/author\/frkhokhargmail-com"},"comment_info":0,"category_info":[{"term_id":16,"name":"Pakistan","slug":"pakistan","term_group":0,"term_taxonomy_id":16,"taxonomy":"category","description":"All about Pakistan","parent":0,"count":3640,"filter":"raw","cat_ID":16,"category_count":3640,"category_description":"All about Pakistan","cat_name":"Pakistan","category_nicename":"pakistan","category_parent":0}],"tag_info":false,"_links":{"self":[{"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/posts\/67462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/comments?post=67462"}],"version-history":[{"count":1,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/posts\/67462\/revisions"}],"predecessor-version":[{"id":67464,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/posts\/67462\/revisions\/67464"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/media\/67463"}],"wp:attachment":[{"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/media?parent=67462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/categories?post=67462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsvog.com\/ur\/wp-json\/wp\/v2\/tags?post=67462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}