Rs 1000 notes tops the list of fake currency 

KARACHI: The State Bank of Pakistan has revealed that counterfeit Rs 1000 currency notes are in circulation far more than any other denomination.

SBP’s Director Finance Qadir Bakhsh said on Thursday that a total of 20,000 fake currency notes had been found in the country in the last two years.

However, Bakhsh added that no complaints had been received in the past one year reagrding fake Rs 1000 notes.

The director also revealed that consumers had complained of receiving fake notes from ATMs across the country. He added that in case a fake note was found, the bank would be fined equal to the amount of the note.

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He also added that banks are bound to keep CCTV footages of ATMs secure for ninety days.

In December, the SBP’s deputy governor had been left red-faced in a Senate Committee meeting when asked to identify if a Rs5,000 note was real or fake.

The Bank had consequently released a video highlighting the identifying features of the Rs5,000 note.