According to Reserve Bank of India guidelines, the currency chests include minimum area of 1,500 square feet for strong room.

The guidelines also said, the new currency chests should have a processing capacity of 6.6 lakh pieces of banknotes per day.

What To Know About ‘Currency Chests’ and Why RBI Asked Banks To Set-up NEW Currency Chests?
What To Know About ‘Currency Chests’ and Why RBI Asked Banks To Set-up NEW Currency Chests?

The Reserve Bank Of India (RBI) on 9th of April issued a guideline for banks to set up new currency chests.

According to guidelines, the currency chests include minimum area of 1,500 square feet for strong room.

The guidelines also said, the new currency chests should have a processing capacity of 6.6 lakh pieces of banknotes per day.

It further said, for those situated in the hilly/ inaccessible locations, capacity should be 2.1 lakh pieces of banknotes per day.

The move came after RBI appointed committee had recommended that the apex bank should encourage banks to open large currency chests with contemporary facilities and Chest Balance Limit (CBL) of at least Rs 1,000 crore.