Hafizabad: The State Bank of Pakistan (SBP) has closed the Hafizabad branch of the National Bank of Pakistan (NBP) after counterfeit notes totaling Rs. 2 million found. The counterfeit currency was deposited through a private bank, raising major concerns about oversight of banking procedures.
As a result of this serious error, the SBP imposed Rs. A fine of 200 million on the National Bank. A high-level investigation is currently underway to determine the origin of the counterfeit currency. The involvement of multiple entities has increased the complexity of the case, making the investigation difficult.
This incident has highlighted potential vulnerabilities in the banking system, leading to calls for stronger measures to prevent such incidents in the future.