Karachi, 12 Oct 2023:In light of some apparent public confusion, the State Bank of Pakistan (SBP) has issued a clarification concerning the legal tender status of Rs.75 banknotes, according to a press release from the SBP. The statement affirms that both the green banknote, released on August 14, 2022, to commemorate 75 years of Pakistan’s Independence, and the blue banknote, issued on July 04, 2023, to mark the 75th anniversary of the SBP’s inception, hold equal validity as legal tender across the nation.

Enshrined under Section 25 of the State Bank of Pakistan Act, 1956, all banknotes, including the aforementioned commemorative notes issued by the SBP, are recognized as legal tender throughout Pakistan. This means that they are sanctioned for use in all public and private transactions and bear the guarantee of the Federal Government. Consequently, these banknotes serve an unmitigated function as a medium of exchange for the settlement of obligations, both private and public.

Additionally, the SBP, alongside all commercial banks, will issue and accept these banknotes from the public, underscoring their thorough integration into the nation’s monetary circulation. Information pertaining to the designs and security features of SBP banknotes can be accessed through the SBP website.