Modern currency chests to hike service charges

  • The Reserve Bank of India allowed large modern currency chests to increase the service charges on cash deposited by non-chest bank branches from the existing rate of ₹5 per packet of 100 pieces to a higher rate subject to a maximum of 8 per packet.
  • For this, only a currency chest (CC) that fulfils the minimum standards will be eligible to be classified as a large modern CC.
Share Socially