{"id":101470,"date":"2021-04-14T19:02:52","date_gmt":"2021-04-14T13:32:52","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=101470"},"modified":"2021-04-23T13:37:09","modified_gmt":"2021-04-23T08:07:09","slug":"what-is-a-currency-chest","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/what-is-a-currency-chest\/","title":{"rendered":"What is a &#8220;Currency Chest&#8221;?"},"content":{"rendered":"<h5><strong>What is the News?<\/strong><\/h5>\n<p>A Private Security Guard in Chandigarh has stolen Rs 4 crore from a Currency Chest of Axis Bank.<\/p>\n<h5><strong>What is a Currency Chest?<\/strong><\/h5>\n<ul>\n<li><strong>Firstly, A currency chest <\/strong>is a place where the Reserve Bank of India (RBI) stocks the money meant for banks and ATMs.<\/li>\n<li><b>Secondly, Administered by<\/b>: The RBI administers these chests.\u00a0 Even though these chests are usually situated on the premises of different banks.<\/li>\n<li><strong>Thirdly, Belongs to:<\/strong> The money present in the currency chest belongs to the RBI. But the money kept in the strong room outside the currency chests belongs to the bank.<\/li>\n<li><b>Fourthly, Security arrangement for the chests? <\/b>The security of <a href=\"https:\/\/forumias.com\/blog\/reserve-bank-of-india-issues-norms-for-banks-to-set-up-currency-chests\/\">currency chests<\/a> varies from one bank to the other where the chests are situated. The Reserve Bank of India (RBI) reimburses the security expenses to the bank as per the set norms.<\/li>\n<li><strong>Fifthly, Recovery Procedure if stolen: <\/strong>As per the set guidelines, the bank in which the currency chest is situated is liable to fulfil the loss of the currency chest.<\/li>\n<\/ul>\n<p><strong>Source: <\/strong><a href=\"https:\/\/indianexpress.com\/article\/explained\/explained-what-is-currency-chest-and-which-authority-governs-it-7272643\/\"><strong>Indian Express<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the News? A Private Security Guard in Chandigarh has stolen Rs 4 crore from a Currency Chest of Axis Bank. What is a Currency Chest? Firstly, A currency chest is a place where the Reserve Bank of India (RBI) stocks the money meant for banks and ATMs. Secondly, Administered by: The RBI administers&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/what-is-a-currency-chest\/\">Continue reading <span class=\"screen-reader-text\">What is a &#8220;Currency Chest&#8221;?<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[1278],"class_list":["post-101470","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-eco_4","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704720563},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/101470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=101470"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/101470\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=101470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=101470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=101470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}