Is every commercial bank authorized to encash/ sale the prize bonds to public and pay the prize money to the claimant?

All authorized commercial banks are allowed to make sale/ encashment of all
denomination prize bonds. However, the banks are allowed to pay the prize money up to Rs.
1,250/- only and the prizes exceeding Rs. 1,250/- are dealt with at all field offices of SBP BSC
(Bank).