GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Currency Chests are -
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store houses of RBI for banknotes and small coins
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store houses of RBI for banknotes and rupee coins
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store houses of commercial banks for banknotes and small coins
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store houses of commercial banks for banknotes and rupee coins
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Explanation:
Detailed explanation-1: -Currency chests are usually located at authorized select branches of scheduled banks. These currency chests are store houses of bank notes and rupee coins and are usually established with important branches of Scheduled Commercial Banks. They do their function on behalf of the Reserve Bank.
Detailed explanation-2: -The minimum amount of deposit into / withdrawal from currency chest will be ₹1, 00, 000 and thereafter, in multiples of ₹50, 000.
Detailed explanation-3: -These notes are called banknotes as they are issued by the Reserve Bank of India.
There is 1 question to complete.