RBI issues norms for currency chests
CONTEXT:
- Reserve Bank of India has issued guidelines for banks to set up new currency chests.
- These guidelines include a minimum area of 1,500 square feet for strong room and a processing capacity of 6.6 lakh pieces of banknotes per day.
- For banks situated in hilly or inaccessible places, this capacity should be 2.1 lakh pieces of banknotes per day.
- These guidelines include a minimum area of 1,500 square feet for strong room and a processing capacity of 6.6 lakh pieces of banknotes per day.
- For banks situated in hilly or inaccessible places, this capacity should be 2.1 lakh pieces of banknotes per day.