New Currency Notes for Eid: A Guide to Getting Them from Banks
As the festive season of Eid approaches, excitement fills the air with preparations in markets, and among the many traditions, acquiring new currency notes from banks is a top priority for many. It’s often said that Eid belongs to children, and for them, the holiday remains incomplete without receiving “Eidi” in the form of fresh currency notes.
So, how can people get their hands on these new notes from the bank? According to Abdul Hafeez Anjum, Customer Service Manager at Bank Islami, the process is quite simple. “One can directly visit the bank with a copy of their CNIC (National Identity Card) and request new currency notes, provided the bank has an available stock,” he said. If the bank has enough stock, the new notes are provided immediately.
A manager at a private bank’s housing loan department also mentioned that the procedure is very straightforward: “Anyone can go to the counter and ask for new currency notes. There’s no complication involved.”
However, there are some crucial details about the distribution of these new notes. According to bankers, the State Bank of Pakistan (SBP) determines how many new notes are distributed to commercial banks. Many people mistakenly believe that banks request a specific number of notes from the SBP, but in reality, the SBP allocates the stock, and banks must accept whatever is given to them. Occasionally, the SBP may not provide any new notes at all, and banks are not allowed to object.
“The new currency notes often run out quickly because bank staff sometimes distribute them among their friends and family,” added a bank manager. This practice leaves fewer notes available for the public, especially those who specifically visit the bank to collect fresh currency notes for Eid.
HBL Branch Manager Rana Umair from Islamabad’s I-8 branch shared further insight: “A couple of years ago, the SBP used to issue new currency notes directly to the public through a code system, but that is no longer the case. Now, people have to visit banks to obtain new notes.” According to him, the SBP’s distribution of new notes depends on the quota assigned to each bank, and it is usually allocated in bundles of different denominations.
Each branch typically receives a limited number of bundles, which may include notes of 10, 20, 50, and 100 rupees. The total stock per branch is limited, and with thousands of customers, fulfilling everyone’s request for new notes becomes a challenge. For example, a single customer may receive up to 16,000 to 18,000 rupees in new notes, but this is not guaranteed.
As demand for fresh currency notes surges during Eid, the system can create frustration for many, but understanding the process can help manage expectations during the holiday season.
