SBP defers Rs 657.8 bn under refinancing scheme during COVID-19
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ISLAMABAD, Jul 1 (APP): In order to ensure uninterrupted availability
of Automated Teller Machine (ATM) services on the occasion of Eid-ul-Fitr, the State Bank of Pakistan (SBP) has advised all commercial banks to take necessary measures for facilitation of general public.

The ATM sites of commercial banks will be examined by inspectors of
State Bank and verification teams of SBP’s Banking Service Corporation (BSC) field offices during the period from 1st July 2016 till 10th July 2016 to verify their operational status.

In view of the extended Eid holidays, banks have also been advised to
intimate SBP BSC Field Offices, in advance, about the extra cash that they may need so that adequate arrangements could be made for replenishing their ATMs during Eid Holidays.

Banks will also make certain that in addition to ATMs, continuous
services are also available on Point of Sale (POS) and other Alternate Delivery Channels (ADC) Channels.

Banks have also been instructed to ensure that dedicated teams from
commercial banks are available for timely resolution of ATM related complaints; contact numbers of banks’ Helpline are prominently displayed on ATM vestibules and advertised in print media for the facilitation of general public.

Also, call centers of commercial banks will remain available 24/7 for
quick redressal of all customer complaints.

Being cognizant of the needs of the public in general and business
community in particular, SBP has already instructed all commercial banks to remain open on 2nd and 9th July for facilitation of the members of general public.

Commercial banks will accept financial instruments from their
customers on 2nd and 9th July 2016 for normal clearing only and National Institutional Financial Technologies (NIFT) is advised to collect them from branches of commercial banks.

NIFT will process the financial instruments collected on 30th June,
2016 and 2nd July 2016 in normal clearing cycle of 4th July 2016.

Once the instruments are cleared, the banks will be required to credit
respective customer accounts on 4th July 2016 whereas the financial instruments collected by NIFT on 4th July 2016.