SBP launches 'Go Cashless' campaign for Eid cattle markets

The State Bank of Pakistan (SBP) has launched a nationwide "Go Cashless" campaign to encourage digital payments and reduce cash transactions in cattle markets ahead of Eid-ul-Azha.

The initiative, which began Tuesday and runs through June 6, aims to promote digital financial inclusion by facilitating cashless purchases of sacrificial animals and related expenses in 54 designated cattle markets. The campaign builds on last year’s efforts to digitize transactions in these markets.

Under the program, buyers and sellers can use digital payments for purchases of animals, as well as for feed, water and parking fees. To support the shift, the SBP has temporarily raised transaction limits for certain accounts from May 19 to June 15.

Branchless Banking Level-1 accounts, Asaan accounts and merchant accounts will now have no daily transaction limits, while the monthly cap has been increased to 5 million Pakistani rupees ($17,900).

The SBP urged the public to adopt secure digital payment methods, saying the move would help create a more efficient financial system. Eid-ul-Azha, a major Islamic holiday involving animal sacrifices, will be celebrated in early June.

The central bank is working with commercial banks to ensure smooth digital transactions during the campaign.