State bank of Pakistan launches art competition for new banknote series.

The State Bank of Pakistan (SBP) has kickstarted the process for introducing a new banknote series by initiating an art competition. Eligible participants include local artists, designers, and art students. The competition encourages participants to propose innovative designs and ideas for the seven existing denominations – Rs10, 20, 50, 100, 500, 1,000, and 5,000. The deadline for design submissions is March 11, 2024, with prizes announced for the winners. Social media users have also shared humorous suggestions for rupee notes in response to the competition.