RBI Allows Modern Currency Chests To Hike Service Charges

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  • Reserve Bank of India announced that it will allow large modern currency chests to increase the service charges on cash deposited by non-chest bank branches from the existing rate of Rs5 per packet of 100 pieces to a higher rate subject to a maximum of Rs8 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.
  • The increased rates can be charged only after such classification by the issue office concerned.
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