State Bank of Pakistan - The Central Bank

FAQs

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Q1. What do we understand from Currency Management?

Q2. How does demand for Bank Notes estimated?

Q3. What do we mean by Issue Department?

Q4. What is an Issue Circle?

Q5. What is the difference between Issue Zone and Exchange Zone?

Q6. What are security features of Bank notes?

Q7. What are Currency Chests?

Q8. Does SBP BSC (Bank) have an access to probe chests affairs?

Q9. What is Bonded Notes Vault?

Q10. What do we mean by heavy tender?

Q11. What is Box Balance?

Q12 · What are Soiled and Mutilated Notes?

Q13 · What types of notes are not eligible for payment under note Refund Rules?

Q14 · What is the difference between Special and Normal procedures for disposal of soiled and defective notes?

Q15 · What do we mean by Note Cypher Book?

Q16 · What is the difference between Home Note Account and Value Account?

Q17· Whether notes held in Chests form the part of circulation?

Q18 · What do we mean by a Foreign Circle for an Issue Office?

Q19 · What are un-current coins?

Q20 · What are Commemorative Coins?

Q21 · How does SBP BSC Office monitor chests affairs?

Q22 · What is a chest slip?

Q23 · What does currency transfer mean?

Q24 · How do deficiencies in the balance of chests/bonded vaults are recovered and which accounts are affected?

Q23a · How does holding capacity of a chest is determined?

Q24a · What course will be adopted if irregularities are detected in the balance of cancelled notes at verification process?

Q25 · Does the value of notes credited to the Bank if excess balance is detected during the verification process?

Q 26 · What are clearly payable defective notes?

Q27 · Is normal claim procedure is adopted for the claims tender by Commercial banks?

Q28 · Are disfigured Notes acceptable as legal tender?

BANKING DEPARTMENT

Q29 · What types of Accounts are maintained in Deposit Accounts Department (DAD)?

Q30 · What documents are required for opening of Current Account with SBP BSC (Bank)?

Q31 · What cautions should be exercised while entertaining Power of Attorney?

Q32 · Could an Office open a new head of account in General Ledger?

Q33 · What is the difference between Transfer scroll and Cash scroll?

Q34 · What is the importance of Trail Balance Book?

Q35 · What do we understand by Clean Cash Book?

Q36 · How do T.T. messages are authenticated, and what types/ tools are available?

Q37 · Is a composite voucher permissible (Partly cash and partly transfer)?

Q38 · How does mistake set right in books of Accounts?

Q39 · What kinds of Debit vouchers require Chief Manager’s signature?

P.A.D.

Q40 · What is the difference between Drawing Accounts and Assignment Accounts?

Q41 · What is the difference between Assignment Accounts and Personal Ledger Accounts?

Q42 · What steps should be initiated to stop fraud and forgery payment?

Q43 · How do cheques and bills become non-negotiable instruments?

Q44 · What care should be done when a Refund Order is presented for payment?

Q45 · Does SBP BSC (Bank) Office make debt authority to Central Zakat Account?

Q46 · When does disbursement guarantee need?

Q47 · What are objections Memos to refuse payment of a cheque?

Q48 · What are important books of P.A.D.?

SECURITIES?

Q49. What is Open Market Operations (OMOs)?

Q50 Who are eligible to participate in MTBs Auctions?

Q51 · Could an individual buy MTBs?

Q52 · What are MTBs and what is the rate of profit?

Q53 · What is the difference between OMOs and Auctions of MTBs?

Q54 · What are SGL and Investors Portfolio Security (IPS) Accounts?

Q55 · What is the rate of tax on profit from MTBs?

Q56 · What do we understand by Foreign Currency Loan Repayment Bonds?

Q57 · What are Special Government Bonds?

Q58 · What was maturity period for Federal Investment Bonds?

Q59 · Is Redemption of FIBs before maturity permissible?

Q60 · At what intervals profits on PIBs are paid?

Q61 · Does inter bank/NBFIs transfer of PIBs permissible?

Q62 · What are Index Cards?

Q63 · Is Repo facility available to SGL accounts holders?

Q64 · What is reverse Repo?

Q65 · What do we understand by PDO-31 and PDO-32?

Q66 · What is the rate of commission paid to Primary Dealers and what head of Account is debited for the payment of commission?

Q67 · To whom PIBs are sold?

Q68 · What is the current rate of profit on PIBs?

Q69 · What is the rate of withholding tax on interest of PIBs?

Q70 · What do we understand by PDO-124?

Q71 · What are requirements for opening of SGL?

Q72 · What is the mode of payment of profit on PIBs if kept in SGL (script less)?

Q73 · What is Jumbo Auction?

EXPORT REFINANCE

Q74 · What is the purpose of Export Refinance Scheme?

Q75 · What is the difference between Part-I and Part-II of Export Finance Scheme?

Q76 · What is the maximum quantum of annual Refinance limit allowed to an Individual bank?

Q77 · What is the period of Refinance?

Q78 · What is the rate of Refinance?

Q79 · At what frequency banks make payment of profits to SBP?

Q80 · At what rate fines are levied under Part-I and Part- II of the Scheme on rendering of different irregularities?

Q81 · Does an indirect exporter qualify for Export Refinance?

Q82 · What is Harmonized code for commodity for providing Export Refinance?

Q83 · Is substitution of eligible commodities with another firm export order permissible?

Q84 · Is facility of substitution for supplying of inputs by indirect exporters permissible?

Q85 · Is there any time frame work for allowing Export Refinance by the SBP BSC (Bank) Offices?

SPECIAL SAVINGS CERTIFICATES/ DEFENCE SAVINGS CERTIFICATES

Q86 · Does purchase/sale of SSCs & DSCs from Scheduled banks permissible?

Q87 · Will encashment of SSCs before six months and DSCs before one year fetch profit?

Q88 · What requirements are to be fulfilled for issuance of duplicate certificates both in case of lost and theft?

Q89 · Is transfer of SSCs/DSCs from issuance Office to another Office of SBP BSC (Bank) permissible?

Q90 · What is the rate of transfer fee from one office to another office?

Q91 · What Steps/Actions SBP BSC (Bank) office should take if SSCs/DSCs are pledged for securing loans?

Q92 · What is the maximum limit of loan permissible on pledging of SSCs/DSCs?

Q93 · What is the maximum purchase limit of SSCs/DSCs by an individual living abroad?

Q94 · What is the rule for re-investment of DSCs upon their maturity?

Q95 · Why coupons are replaced with chequebook on SSCs?

SPECIAL US DOLLAR BONDS
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Q96 Is sale of fresh US Dollar Bonds permissible?

Q97 · What is the rate of return on special U.S. Dollar Bonds?

Q98 · What is mode of payment of profit on USDBs?

Q99 · How does encashment of Special USDBs is made both at pre-maturity and maturity of Bonds?

Q100 · Does re-investment of Special USDBs after maturity permissible?

Q101 · What procedural requirements to be fulfilled by Banks/NBFIs regarding lost of USDBs both registered and bearer for issuance of duplicate bonds?

PRIZE BONDS

Q102. What are the sale points for Prize Bonds to Public?

Q103 · How many denominations of Prize Bonds are in vogue and numbers of prizes on different denominations of prize bonds?

Q104 · What is the shut period for re-issuable Prize Bonds of different denominations?

Q105 · What procedure is followed regarding Sale/Encashment of Prize Bonds to Commercial Banks?

Q106 · In what book of accounts stock of fresh Prize Bonds are registered?

Q107 · Where Stock of re-issuable Prize Bond is registered?

Q108 · In which book of accounts Prize Winning numbers are listed?

Q109 · What does PB-20 provide information?

Q110 · What is the importance of PB-35?

Q111 · In which book entries regarding irregularities/errors committed by sorters, counters and checkers are recorded?

Q112 · What is the importance of destruction of defaced bonds one day before the draw?