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2. Currency Chests
In order that the Bank's obligations may be satisfactorily discharged without recourse to extensive and frequent physical remittance of notes and coins between various centres, the Bank maintains currency chests of its own at treasuries and branches of the banks at all important centres. In the State of Orissa, there are 130 Currency chests, the list of which is provided in the end. These currency chests are intended to facilitate the distribution, exchange and remittance of notes, including one rupee notes and rupee coins and small coins.
(ii) RBI has launched a special drive under its clean note policy to withdraw all soiled and mutilated notes from the members of public and put in its place fresh and clean notes. In order to facilitate the members of public, to exchange such notes, RBI has delegated powers to all the 130 currency chest branches in Orissa to exchange soiled, torn, damaged/ mutilated/ defective notes. Soiled and cut notes should also be accepted over bank counters in payment of Government dues and for credit of accounts of the public maintained with banks. Reserve Bank of India, Bhubaneswar has opened three special counters, two for exchange of soiled notes of all denominations and one solely for exchange of mutilated notes. Notes which have turned extremely brittle or badly burnt, charred or inseparably stuck up together and therefore can not withstand normal handling, are also accepted at RBI Bhubaneswar for adjudication under a Special Procedure.
What else can I help you with?
What is currency chest?
A currency chest is a branch of bank in India. There are several different currency chests there and are used to store notes and coins for the reserve banks.
How do you find a correspondent bank of all foreign banks?
One would look for a bank that is native to the currency that he/she is wanting to bank with. Often the bank will be located in a country where the currency is the usual currency.
What is a breeze bank note?
A breeze bank note, is defaced currency. This is usually part of a scam. Anti-Breeze bank note is more commonly refereed to, and it is a means for cleaning the currency.
Where do i exchange foreign currency for dollars?
A bank
What is the difference between an intermediary bank and a correspondent bank?
An intermediary bank is the bank who forwards the cash often because the original bank is a small bank that doesn't handle foreign payments. It does not keep the cash, but simply assists in the transfer of funds. The correspondent bank comes into play if the end recipient is located in a country where the currency transferred is not the native currency. For instance if you transfer USD to Laos. Then there will be a correspondent bank that covers all transfers to the Laos bank. The end bank then has an account at the correspondent bank where it has all it's foreign currency covered. Often (but not always) the correspondent bank will be a bank located in the country where the currency is native. For instance the USD correspondent banks will often be an American bank.
What is currency chest?
A currency chest is a branch of bank in India. There are several different currency chests there and are used to store notes and coins for the reserve banks.
How do you find a correspondent bank of all foreign banks?
One would look for a bank that is native to the currency that he/she is wanting to bank with. Often the bank will be located in a country where the currency is the usual currency.
When was Currency Museum of the Bank of Japan created?
Currency Museum of the Bank of Japan was created in 1985.
Where besides a bank can you exchange currency?
currency changer
Which bank's name features on Indian currency notes?
Reserve Bank of India's name features on Indian currency notes. It is a government bank. This banks publishes Indian currency.
What is a bank note?
It's a proper term for paper currency, where the bill was issued by a specific bank, such as the Bank of England or US Federal Reserve.
Can you swap old currency for new currency in the bank?
yes
How you can convert What if your currency to foreign currency through ATM's?
In bank
Can bank convert foreign currency to home currency without customer's approval?
If a customer receives a bank transfer in a foreign currency to his/her account it is standard practice to convert it into the currency of the account.
Which has authority over the printing of currency?
The printing and distribution of currency is the responsibility of a central bank. There is a different central bank for each currency. For example, the European Central Bank is responsible for the Euro (€), ensuring enough currency is printed, but not too much to cause inflation.
Can you get old currency from the reserve bank?
NO
Where do you get euros?
From a bank - or currency 'shop' !
