The SBP issued the currency management strategy for banks in August 2015 to: i) bring the cash management function at par with international and regional best practices, ii) ensure that banks have necessary capacity to detect counterfeit banknote and thus ensuring that no counterfeit banknote is issued by banks, and iii) improve the quality of banknotes in circulation. Under the strategy, all the banks were advised to automate their currency operations across the country and issue only machine authenticated banknotes to the general public through their branches and ATMs. The banks were also advised to ensure end to end coverage of the cash processing functions through high resolution cameras and retain the CCTV footage for at least 60 days. The CCTV footage is used to resolve disputes if any. The processing of banknotes through authentication machines, preservation of CCTV record and standardized packaging are aimed at ensuring that no counterfeit note could be issued by banks and that the banks have the capacity to identify and block the counterfeit if any enters the banking system. The SBP cash monitoring teams also make surprise visits to banks’ branches and ATMs to assess compliance with CMS instructions. The non-compliant banks are heavily penalized.