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| FD Circular Letter No. 06 of 2023 |
November 14, 2023 |
The Presidents/Chief Executives
All Banks / Microfinance Banks
Dear Sir/Madam,
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SBP Currency Management Strategy (CMS) -
Standardization of Sorting Parameters for Banknote Sorting Machines |
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Kindly refer to the State Bank of Pakistan FD Circular No.1/2014 dated 9th September, 2014, wherein SBP issued machine fitness sorting parameters to banks to provide minimum standards for machine sorting of Pakistan Rupee banknotes. Pursuant to implementation of SBP’s CMS, banks have procured banknote processing machine of various make and models, deployed at Cash Processing Centers (CPCs) and branches.
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With a view to standardize banknote processing parameters and to ensure that different machines gives uniform results while sorting banknotes under similar conditions, SBP has decided to fix banknote sorting parameters of banknote processing machines. In the first phase, SBP has fixed sorting parameters of High-end Banknote Processing & Authentication Systems (BPAS), Desktop Note Sorting (DNS) and Countertop Note Sorting (CNS) installed at its premises and implemented the same across all its field offices in the country. In the second phase, SBP in collaboration with banks have calibrated banknote processing machines deployed at Karachi and compiled the desired readings against each make and model as approved calibrations available at web link https://www.sbp.org.pk/finance/currency-appr.asp. Banks are advised to calibrate all their machines deployed at their CPCs and branches as per approved calibrations by 31st December 2023.
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It is further informed that certain banknote processing machine, list enclosed as Annexure-A couldn’t be tested due to incompatibility of their firmware. Banks using such machine shall address the issue and make available these machine for the desired calibration within 06 months, failing which such machine will be delisted from SBP’s list of approved banknote processing machines and shall no longer be eligible for banknote processing and authentication.
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Please acknowledge receipt.
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Yours faithfully,
Sd/-
(Qader Bakhsh)
Director
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