State Bank of Pakistan, SBP Banking Service Corporation (Bank) Currency Management Department has issued Notification on 12-02-2019 in connection with Discontinuation of Fresh Rs. 40,000/- Denomination National Prize Bonds. Details are as under:
Discontinuation of Fresh Rs. 40,000/- Denomination National Prize Bonds
This is with reference to Central Director of National Savings (CDNS) letter no. F.11(5)Sch-2/PB/2019 dated February 7, 2019 regarding the captioned subject (copy enclosed).
2. In this connection, the following instruction for handling of Rs. 40,000/- denomination National Prize Bonds (NPBs) are being issued for meticulous compliance of all SBP BSC officers, w.e.f. February 15, 2019:
a) Fresh Prize Bonds:
i. Issuance of Fresh bonds will be discontinued from all SBP BSC officers w.e.f. February 15, 2019. It may please be noted that issuance of only fresh bonds is being discontinued
ii. No further stamping of Fresh Prize Bonds will be carried out by SBP BSC officers.
iii. Accordingly, issuance of fresh prize bonds through cheque will also be discontinued w.e.f. February 15, 2019, However, any pending requests with proceeds realization date after February 15, 2019, shall be entertained through re-issuable balance only, In case of non-availability of re-issuable balance, the applicant will have to opt for any other denomination of NPs or the proceeds will be returned to the bank account from which they were realized.
iv. Similarly, issuance of fresh prize bonds to National Savings Centers / Commercial banks etc. Will NOT be allowed w.e.f. February 15, 2019. Further details are available at the copy of the Notification.
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Special thanks to Mr. Junaid Sattar Butt for sending the copy of the Notification of Discontinuation of Fresh Rs. 40,000/- Denomination National Prize Bonds.