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RBI/2018-19/166
DCM (CC) No.2482/03.39.01/2018-19
April 08, 2019
Chairman/Managing
Director/
Chief Executive Director
All banks
Madam/Sir,
Minimum
Standards for a Currency Chest
As
stated in para 15 of the monetary policy
statement dated October 04, 2016, the Bank had constituted a
Committee on Currency Movement (CCM) [Chair: Shri D.K. Mohanty, Executive
Director]. The Committee, inter-alia, recommended that the Reserve Bank
should encourage banks to open large Currency Chests (CCs) with modern
facilities and Chest Balance Limit (CBL) of at least ? 10 billion.
Accordingly, it has been decided to have the following minimum standards
for setting up new CCs:
i.
Area
of the strong room/ vault of at least 1500 sq. ft. For those situated in
hilly / inaccessible places (as defined by central / state government/ any
appropriate authority), the strong room/ vault area of at least 600 sq. ft.
ii.
Processing
capacity of 6,60,000 pieces of banknotes per day. For those situated in the
hilly/ inaccessible places, capacity of 2,10,000 pieces of banknotes per
day.
iii.
Amenability
to adoption of automation and adaptability to implement IT solutions.
iv.
CBL
of ? 10 billion, subject to ground realities and reasonable restrictions,
at the discretion of the Reserve Bank.
v.
Adherence
to other extant technical specifications issued vide DCM (CC) No
G-18/03.39.01/2008-09 dated November 14, 2008 relating to construction,
etc.
2.
Banks desirous of setting up CCs shall ensure that the above mentioned minimum
standards are conformed to.
3.
All other instructions regarding opening of CCs shall remain unchanged.
Yours
faithfully,
(Sanjay
Kumar)
General Manager
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