RBI Issues Norms For Banks To Set Up Currency Chests

The Reserve Bank of India came out with guidelines for banks to set up new currency chests, which include a minimum area of 1,500 square feet for strong room.

The new chests should have a processing a capacity of 6.6 lakh pieces of banknotes per day. The currency chests should have CBL of Rs 1,000 crore, subject to ground realities and reasonable restrictions, at the discretion of the Reserve Bank.

Source- DD News

Static/Current Takeaways Important For LIC AAO Mains Exam:

  • RBI 25th Governor: Shaktikant Das, Headquarters: Mumbai, Founded: 1 April 1935, Kolkata.

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