currency chest transaction

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bhola muraw

bhola muraw (Querist)
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24 July 2010 What is Currency chest transaction in bank?

Rahul Gupta

Rahul Gupta (Expert)
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24 July 2010 Currency Chest is the locker or like a cash deposit box of the bank.

All the currency or cash balance of the branches of the bank is sent to the currency chest. It keeps currency notes and meet the needs and requirements of the various branches of the bank.

Whenever a branch of a bank have excess cash balance, it transfers the currency to the currency chest. In the same way, in case bank branch needs currency, currency chest provides them the cash for making payments.

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