The central bank advises the Centre on the number of notes to be printed, the currency denominations, security features and so on. The responsibility for managing the currency in circulation is vested in the RBI. What is it?Ĭurrency chests are branches of selected banks authorised by the RBI to stock rupee notes and coins. While these statements might conjure images of a shining golden chest, overflowing with currency notes and coins the reality is a little dull. Or you could have heard people say that all the 100 and 50 notes have disappeared from the currency chest.
If you were among those making frequent trips to the bank in the last few days, you might have been told by a bank employee that money is on its way from the currency chest.
