No. of :

No. of Shares:

Currently viewed by: Marcus Rosit

BSP North Luzon brings services closer to communities

BAGUIO CITY (PIA) -- The Bangko Sentral ng Pilipinas (BSP) North Luzon Regional Office continues to bring its services closer   to the communities.
 
BSP North Luzon Regional Office Bank Officer II Cherry Pongco shared that they conduct the  Piso Caravan primarily  to change unfit or mutilated money  of the  public.

"Nagtatayo tayo ng booth kung saan, pinapalitan po namin ng bagong pero o digital na pero 'yung mga unfit at mga mutilated na banknotes," Pongco said in an interview.

Unfit  peso bills are those that are  crumpled, have fading prints  or  stains. Currencies  that are  destroyed, gnawed by animals, torn, or have  holes in it are considered mutilated.

Pongco added that they plan  to partner with other agencies  and local government units that  will  receive unfit or mutilated money  then  forward it to BSP  for replacement.
 
LGUs  that  want to hold such activity in their area may get in touch with the BSP North Luzon Regional Office located at Loakan Road, Baguio City,  she  said.
 
Pongco  reminded the public that under the Anti-Mutilation Law, individuals who intentionally destroy bank notes and coins can be penalized with not more than P20,000.00 and/or imprisonment of not more than five years.
 

BSP North Luzon Regional Office Bank Officer II Cherry Pongco discusses their various programs during the Usapang PIA with Kap. Peter Wasing on Thursday, 06 July 2023. (PIA-CAR)

The BSP also  recently launched the Coin Deposit Machine Project at the National Capital Region which aims to intensify the circulation of coins, she  informed.  This  aims  "siphon out idle coins and be converted to digital currency or voucher that can used in shopping," 
 
"Maganda pong ugali ang mag-ipon sa alkansiya pero make sure lang po na kapag napuno na, ilabas po natin ang mga barya at ideposito po natin sa bangko or gamitin natin," Pongco reminded.
 
The Coin Deposit Machine Project is expected to be launched in other parts of the country.

 The BSP also  conducts  information caravan in the provinces to inform the public on the different programs of the agency. (JDP/DEG-PIA CAR)

About the Author

Jamie Joie Malingan

Regional Editor

CAR

Feedback / Comment

Get in touch