RBI released new guidelines for banks to set up currency chests

9th April 2019. In Banking & Finance Sector, RBI has released the new guidelines for banks to set up currency chests, which include a minimum area of 1,500 square feet for a strong room.
"Area of the strong room/ vault of at least 1,500 sq ft. For those situated in hilly/ inaccessible places, the strong room/ vault area of at least 600 sq ft," the RBI said while specifying minimum standards for setting up new currency chests.
Besides, the new chests should have a processing capacity of 6,60,000 pieces of banknotes per day.
For those situated in the hilly/ inaccessible places, a capacity of 2,10,000 pieces of banknotes per day.

Published On : 09 Apr 2019