This requirement is not possible to comply with as this would require to arrange infrastructure similar to CPCs and CFBs setups at total branch network of all the banks across the country. 03/2015, August 26, 2015), the banks already procured and provided shrink wrapping machines to their Cash Processing Centers (CPCs) and Cash Feeding Branches (CFBs) for only these locations to wrap and put bundle cards on sorted cash for Interbank Exchange Cash, but in the recent communication of SBP the banks have now been asked to wrap and place bundle cards on top and bottom in every exchange transaction as well. Keeping in view the earlier SBP guidelines (FD Circular No.

However, banks are also encouraged to adopt plastic trays based packaging and transportation for interbank exchange and branch to branch cash transfers. The banks/CITs have been given ample time (about one year) to procure the trays. The trays will be mandatory for deposit of cash with SBP BSC only and not for interbank exchange. In order to revamp the banknotes supply chain and modernize the processing of banknotes the use of plastic trays is pivotal for transportation and deposit with SBP BSC. Banks suggest that SBP should consider removing requirement of plastic trays. Transportation of machine sorted and shrink wrapped cash in plastic trays to SBP and other banks (interbank) will increase complication in logistics through CIT companies and will not mitigate any risks. However, banks shall ensure that the banknotes (fit, unfit and reject) to be deposited with SBP BSC, NBP or for interbank exchange donвЂ™t contain any staples, pins, thin rubber bands, tapes etc (as stated in Section 1.1 of Packing Instructions) and that the packets are paper banded. These bundles will be accepted both by SBP BSC and NBP and may also be used for interbank exchange of cash. Till that time the banks may also use wide rubber bands (with minimum half inch width) to bind the bundles the packets will have to have paper bands as specified in the strategy. Yes! The Shrink wrapping and bundle binding instructions are applicable from July 3. Here SBP needs to clarify which one is the final implementation date? The banks understanding is that for enhanced bundling / packaging the implementation date will be Jand till then banks can follow the existing process of packaging and bundling. On the other hand, SBP has asked banks to wrap and put bundle cards in case of Interbank Exchange of Cash (IEC) from April 03, 2017. SBP advised banks to implement preparation of banknotes bundles from Jfor shrink wrapped with colored bundle cards on top and bottom according to the currency denominations. All such banks should contact this department on immediate priority to share the specifications etc of the machines so installed. The banks that have purchased/placed orders for purchase of packets and bundle binding machines before issuance of packing instructions they may use these machines for packet and bundle binding provided they meet other requirements like printing of requisite information on the packet/bundle bands. Therefore, SBP should consider allowing packaging material specifications which equipment already procured are capable to deliver.

Since SBP has recently provided their packaging material specifications in many cases they do not match with the specs standards of the machines previously procured. In its earlier circular, SBP had not mentioned the packaging material specifications, as a result of which the banks purchased packet and bundle binding machines without taking this aspect into account. Therefore, the clause 3(g) under вЂњDeposit with SBPBSCвЂќ stands amended accordingly. Therefore, The banks shall deposit the same to SBPBSC under Machine Rejected banknotes. 02/2017 dated March 10, 2017, also includes Clearly Payable Defective Banknotes. The category of Machine Rejected banknotes, vide FD Circular No.

It is Banks understanding that the categorization provided via Master Circular 01 of 2004 (which is ReIssuable / Soiled / Defective / Unsorted) would be discontinued and merged with the above categories in the following manner a.ДЇit for Re-issuance / Circulation (Banks may further sub-categorize this category into ATM Fit, Counter Fit and Fresh Notes Categories) 02/2017, March 1003-2017: SBP advised banks to categorize cash into following four Queries related to Currency Management Strategy

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