In an attempt to make the 75th anniversary of Pakistan and its central bank, the State Bank of Pakistan (SBP), more special in 2022 and 2023, the SBP introduced two currency notes, both with a value of Rs75 each. These notes featured different designs and colors, and they were considered legal for everyday use, not just commemorative items.
However, there was some confusion among the public about these notes. Many shopkeepers were hesitant to accept them, questioning their validity as legal tender and whether banks would honor them.
Additionally, there were rumors that these notes might be discontinued, which turned out to be partially true because they were printed only once, in contrast to the regular banknotes like Rs10, Rs20, Rs50, Rs100, Rs500, Rs1,000, and Rs5,000, which are printed continuously.
Despite the confusion, the SBP spokesperson, Abid Qamar, clarified that the central bank had no plans to discontinue the Rs75 banknotes, and they would remain in circulation as long as they were valid.
The first Rs75 currency note, printed in green, was released on Pakistan’s 75th Independence Day in August 2022. It featured images of prominent figures like Quaid-e-Azam Muhammad Ali Jinnah, Sir Syed Ahmad Khan, Allama Iqbal, and Fatima Jinnah. The presence of multiple images on this note surprised some people, as other notes typically only depict Quaid-e-Azam.
The second Rs75 banknote, in blue, with an image of Quaid-e-Azam only, was later introduced to celebrate the SBP’s 75th anniversary on July 4, 2023.
A senior banker explained that these commemorative currency notes were issued in large quantities to ensure that they reached the general public and made the anniversaries more memorable, unlike other commemorative coins and notes that were produced in smaller quantities. He emphasized that there was no need for Rs75 notes to become regular currency notes, especially with Rs50 and Rs100 banknotes already in circulation.