Pakistani Rupees 500 Currency Notes Update: The State Bank of Pakistan (SBP) has clarified the authenticity of Pakistani Rupees 500 Currency Notes without OVI. `Apropos the news circulating in some sections of social media regarding authenticity of Rs 500 banknotes without OVI (Optical Variable Ink) flag, it may be recalled that the State Bank had introduced new design banknotes of Rs500 in 2006′, said a statement issued on Monday 27th March 2017.
These Pakistani Rupees 500 Currency Notes carry state of the art security features,besides, change in size, design and color scheme.
Later on an other security feature, the color shifting flag made of Optical Variable Ink (OVI) was added to enhance the anti-counterfeiting resilience and ease in identification by the general public, the SBP statement added.
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This, however, resulted in availability of both types of Pakistani Rupees 500 Currency Notes viz issued during 2006-2009 without OVI, and issued w.e.f January 25, 2010 with OVI feature.
`It is, therefore, clarified for benefit of all concerned that new design banknotes of Rs 500, with and without OVI flag, are genuine provided all other security features are intact.
General public is encouraged to learn more about the security features in Pakistani banknotes through section in NBP website titled `Rupay ko Pehchano’, the statement further pointed out.
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SBP also expects that general public may discard any such news appearing in social media and discourage the circulation of this unauthenticated news, the statement said.
The State Bank of Pakistan (SBP) is the central bank of Pakistan. While its constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until January 1, 1974, when the bank was nationalized, the scope of its functions was considerably enlarged.
The State Bank of Pakistan Act 1956, with subsequent amendments, forms the basis of its operations today. The headquarters are located in the financial capital of Pakistan, Karachi with branch offices in 15 cities across Pakistan, including the capital city, Islamabad and the four provincial capitals.