CURRENCY CHESTS

CURRENCY CHESTS :
- Currency chests are storehouses where bank notes and rupee coins are stocked on behalf of the Reserve Bank of India.
- The Reserve Bank of India has authorised selected branches of banks to establish Currency Chests in order to facilitate distribution of notes and coins across the country through other bank branches in their area of operation.
- The currency chest is like a miniature Issue Department and notes held in the chests are not deemed to be in circulation and the coins held in chest form part of Issue Department.