Karachi, November 14, 2023 – The State Bank of Pakistan (SBP) has taken a significant step towards standardizing the banknote sorting parameters of processing machines, ensuring uniformity across various models and makes.
In a circular issued on Tuesday, the SBP announced the fixation of banknote sorting parameters, aiming to streamline the sorting process and maintain consistency in results.
This initiative follows the issuance of FD Circular No.1/2014 dated September 9, 2014, where the central bank provided machine fitness sorting parameters to banks, establishing minimum standards for the machine sorting of Pakistan Rupee banknotes. With the implementation of the SBP’s Currency Management System (CMS), banks have acquired banknote processing machines of different types, deployed at Cash Processing Centers (CPCs) and branches.
To standardize the banknote processing parameters and ensure consistent results across different machines, the SBP has decided to fix the sorting parameters of High-end Banknote Processing & Authentication Systems (BPAS), Desktop Note Sorting (DNS), and Countertop Note Sorting (CNS). This standardization has been implemented at SBP’s premises and extended to all its field offices across the country.
In the second phase of this initiative, the SBP, in collaboration with banks, has successfully calibrated banknote processing machines deployed in Karachi. The desired readings against each make and model have been compiled as approved calibrations. Banks are now advised to calibrate all their machines at CPCs and branches according to these approved calibrations by December 31, 2023.
It is crucial to note that certain banknote processing machines could not be tested due to the incompatibility of their firmware. Banks utilizing such machines are urged to address the issue promptly and make these machines available for the desired calibration within six months. Failure to comply within the stipulated timeframe will result in the delisting of such machines from the SBP’s approved banknote processing machines list. Consequently, these machines will no longer be eligible for banknote processing and authentication.
The SBP’s move to standardize banknote sorting parameters is expected to enhance the efficiency and reliability of the currency processing system, contributing to a more robust and secure financial infrastructure in Pakistan. Banks are urged to promptly adhere to the calibration requirements to ensure compliance with the SBP’s approved standards and maintain the integrity of the banknote processing ecosystem.