Hi Everyone! I hope you are all doing well. Welcome back to another article. In this article, you will learn about legal tender and what it means for the Rs. 75 Note in Pakistan.
The State Bank of Pakistan issued a new Rs. 75 banknote on 30th September 2022, which features the portrait of the founder of Pakistan, Quaid-e-Azam Muhammad Ali Jinnah, on the front side and Fatima Jinnah, Allama Muhammad Iqbal, and Sir Syed Ahmad Khan on the back side. This new currency note has a different color, size, and design as compared to the previous banknote of the same denomination. In this article, we will explore whether the old Rs. 75 banknote is still valid or not.
About Rs. 75 Bank Note
|Rs. 75||Emerald Green||147 mm X 65 mm||30th September 2022|
Is the Rs. 75 Bank Note still valid?
The State Bank of Pakistan (SBP) has strongly denied the rumors surrounding the demonetization of the Rs. 75 commemorative banknotes. Shopkeepers across the country refused to accept the Rs. 75 notes during Eid ul Fitr, causing speculation about the demonetization of the banknote.
In response, the SBP spokesperson Abid Qamar clarified in a video message posted on the central bank’s official Twitter handle that the commemorative banknote is legally valid and can be used in all transactions. He emphasized that the Rs. 75 banknote was issued last year to celebrate the country’s 75 years of independence and has no expiration date.
He also said:
“The SBP issues all currency notes under Section 25 of its Act. The Rs. 75 commemorative banknote has no expiration date and can be used in all transactions.”
Furthermore, he refuted the false rumors about the government terminating or withdrawing the banknote.
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