What is a Currency Chest?
Distribution of notes and coins throughout the country is done through designated bank branches, called chests. Chest is a receptacle in a commercial bank to store notes and coins on behalf of the Reserve Bank. Deposit into chest leads to credit of the commercial bank’s account and withdrawal, debit.
Functions of Currency Chests...
The Functions of the Currency Chests are:
The major functions of the currency chests are:
To meet currency requirement of public
To withdraw unfit notes
To provide exchange facility from one denomination to another
To make payment requirement of the Government
To exchange the mutilated notes
To avoid frequent movement of cash
Apart from having its own chests at certain places, RBI also has arrangements with other banks which are entrusted with custody of the currency notes and coins for the same purpose.
Sunday, 20 November 2016
What is a Currency Chest?
What are RBI’s Currency Chests?
What are RBI’s Currency Chests?
One main function of the RBI is to deliver currency notes across the country. it has to distribute new currency notes and rupee coins, recycle old notes, keep cash reserves of banks (CRR). Similarly, it has to facilitate orderly transfer of bulk currency notes across regions. For all these purposes, the RBI has some sort of currency store houses known as currency chests. Currency chests acts as networks of currency distribution.
The main function of currency chests is to facilitate note supply. As there are around 4102 currency chests, they help the RBI to undertake smooth supply of currency notes across the country. The cash reserve ratios of the commercial banks are also kept at currency chests. For example, in the demonetization process, the currency chests absorbed old notes and supplied new currency notes.
Main function of currency chests is store currency notes and coins. Currency chests are usually located at authorized select branches of scheduled banks. These currency chests are store houses of bank notes and rupee coins and are usually established with important branches of Scheduled Commercial Banks. They do their function on behalf of the Reserve Bank. As on March 2016, there were 4102 Currency Chests and 3783 Small Coin Depots. The currency chest branches are expected to distribute banknotes and rupee coins to other bank branches in their area of operation.
Sunday, 13 November 2016
RBI के गवर्नर : कब-कब कौन रहा पद पर
RBI के गवर्नर : कब-कब कौन रहा पद पर
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1. सर ऑस्बॉर्न - 1 अप्रैल 1935 से 30 जून 1937
2. सर जेम्स बैर्ड टेलर - 1 जुलाई 1937 से 17 फरवरी 1943
3. सर सीडी देशमुख - 11 अगस्त 1943 से 30 जून 1949
4. सर बेनेगल रामा राव - 1 जुलाई 1949 से 14 जनवरी 1957
5. केजी अंबेगांवकर - 14 जनवरी 1957 से 28 जनवरी 1957
6. एचवीआर इंगर - 1 मार्च 1957 से 28 फरवरी 1962
7. पीसी भट्टाचार्य - 1 मार्च 1962 से 30 जून 1967
8. एलके झा - 1 जुलाई 1967 से 3 मई 1970
9. बीएन अधारकर - 4 मई 1970 से 15 जून 1970
10. एस जगन्नाथन - 16 जून 1970 से 19 मई 1975
11. एनसी सेन गुप्ता - 19 मई 1975 से 19 अगस्त 1975
12. केआर पुरी - 20 अगस्त 1975 से 2 मई 1977
13. एम नरसिम्हा - 3 मई 1977 से 30 नवंबर 1977
14. डॉ. आईजी पटेल - 1 दिसंबर 1977 से 15 सितंबर 1982
15. डॉ. मनमोहन सिंह - 16 सितंबर 1982 से 14 जनवरी 1985
16. ए घोष - 15 जनवरी 1985 से 4 फरवरी 1985
17. आनएन मलहौत्रा - 4 फरवरी 1985 से 22 दिसंबर 1990
18. एस वेंकटरमन - 22 दिसंबर 1990 से 21 दिसंबर 1992
19. सी. रंगराजन - 22 दिसंबर 1992 से 21 नवंबर 1997
20. डॉ. बिमल जलान - 22 नवंबर 1997 से 6 सितंबर 2003
21. डॉ. वाई वी रेड्डी - 6 सितंबर 2003 से 5 सितंबर 2008
22. डी. सुब्बाराव - 5 सितंबर 2008 से 4 सितंबर 2013
23. रघुराम राजन - 5 सितंबर 2013 से 4 सितंबर 2016
24. उर्जित पटेल - 4 सितंबर 2016 से पदधारी
