SITEMAP FAQs OTHER  LINKS CONTACT  US  
 ABOUT  USNOTIFICATIONSPUBLICATIONSDATABASESPEECHESPRESS  RELEASES TENDERSFORMS 
 
About Us
Citizen's Charter
Timelines for Regulatory Approvals
FEMA
Financial Intermediaries
Currency Chests
Banking Ombudsman
Complaints
HelpDesk
Home >> About Us >> Regional Offices >> Bhubaneshwar - Currency Chests

1. Management of Currency

Currency Management essentially relates to planning, designing, issue and withdrawal of currency, ensuring its integrity, availability and the maintenance of quality. The Department of Currency Management (DCM) of the Reserve Bank located at Central Office, Mumbai, takes policy decisions on the designs of bank notes, forecasts the demand for notes and coins, ensures the smooth distribution of bank notes and coins throughout the country, arranges to withdraw unfit notes, administers the RBI Note Refund Rules and reviews/rationalizes the work system/procedures at the Issue Office on ongoing basis. The operational work is conducted by the Issue Departments of the Bank with responsibility for managing the inventory, distribution and servicing of currency in its respective issue circles.

(ii) The Reserve Bank is responsible for issuing coins and notes to the public on demand and for maintaining the quality of the notes issued. Reserve Bank's responsibility thus is not only to put currency into such other denominations of notes and/or coins as may be required by the public. With a view to mitigating the hardship to the public in genuine cases, the Bank arranges to make refund of the value of mutilated notes as per the Note Refund Rules.

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 122 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 122 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.

3. Facilities/ Services at the Currency Chest Branches

Salient features of genuine notes are required to be displayed at bank branches for information of public. The bank branches should have adequate number of dual display note counting machines provided at the payment counters for the benefit of customers. Stapling of currency note packets has been done away with and information on non stapling of note packets should be displayed on the notice boards. Citizens' Charter for exchange of notes and coins should be displayed at notice board for information and benefit of common persons. All the notice boards are trilingual.

(ii) Exchange value of soiled notes will be paid in coins and/or notes of denomination Rs.10/- and above, across the counter as per extant rules. While the intention of the RBI is to mop up all such soiled/mutilated Re.1/-, Rs.2/- and Rs.5/- notes and above in exchange, all Re.1/-, Rs.2/- and Rs.5/- notes would continue to be legal tender. Any note with slogans and message of a political nature written across it ceases to be a legal tender and a claim on such a note will be rejected. Similarly, notes which are disfigured may also be rejected. The notes which are found to be deliberately cut or tampered with, if presented for payment of exchange value, will be rejected.

(iii) The banks have been advised to direct all their branches to accept coins of all denominations tendered at their counters either for exchange or for deposit in accounts. However, as accepting coins packed in polythene sachets of 100 each would be more convenient, the banks have been advised to keep such sachets at the counters and make them available to the customers. A notice to this effect should be displayed suitably inside as also outside the branch premises for information of the public. RBI, Bhubaneswar is operating two counters for issue of coins, one for bulk issue and the other for issue in small pouches. This apart, a coin vending machine is installed in its premises which can be used by the public to get coins in exchange for notes.

(iv) All the currency chest branches are required to display at their branch premises, at a prominent place, a board indicating the availability of note exchange facility with the legend, "MUTILATED NOTES ARE ACCEPTED AND EXCHANGED HERE". Banks should ensure that all their designated branches provide facilities for exchange of notes and coins and place details of designated branches in public domain.

(v) RBI has devised a scheme of penalties for those banks which refuse to exchange soiled/mutilated notes tendered by any member of public. All members of public are advised to avail of the aforesaid facilities to the fullest extent. Any suggestion / complaint / grievance as regards exchange of soiled notes and non-availability of coins/notes (denomination of Rs.10/- and above) may be addressed to RBI, Bhubaneswar.

LIST OF CURRENCY CHESTS IN ORRISA ISSUE CIRCLE

Sl No

Name of the Currency Chest

Sl No Name of the Currency Chest

1

SBI ANANDPUR

62

SBI PATTAMUNDAI

2

SBI ANGUL

63

SBI PHULBANI

3

SBI ASKA

64

SBI PURI

4

SBI ATHAGARH

65

SBI RAIRAKHOL

5

SBI ATHMALLIK

66

SBI RAIRANGPUR

6

SBI BADMAL

67

SBI RAJGANGPUR

7

SBI BALASORE

68

SBI RAYGADA

8

SBI BALIGUDA

69

SBI ROURKELA TOWNSHIP

9

SBI BANKI

70

SBI SAMBALPUR

10

SBI BARBIL

71

SBI SONEPUR

11

SBI BARGARH

72

SBI SUNABEDA

12

SBI BARIPADA

73

SBI SUNDERGARH

13

SBI BASUDEBPUR

74

SBI SURADA

14

SBI BHUBANESWAR, MAIN

75

SBI TALCHER

15

SBI BERHAMPUR

76

SBI TITILAGARH

16

SBI BHADRAK

77

SBI UDALA

17

SBI BHANJANAGAR

78

SBI UDITNAGAR

18

SBI BHAWANIPATNA

79

SBI UMERKOTE

19

SBI BIRMITRAPUR

80

ALLAHABAD BANK CUTTACK

20

SBI BOLANGIR

81

ALLAHABAD BANK NAYAPALLI

21

SBI BONAI

82

CBI,CUTTACK

22

SBI BOUDH

83

CBI,JATNI

23

SBI BRAJRAJNAGAR

84

CBI, KHETRAJPUR

24

SBI BURLA

85

UNION BK,BERHAMPUR

25

SBI CHANDBALI

86

UNION BK BHUBANESWAR

26

SBI CHHATRAPUR

87

BOI,BARIPADA

27

SBI CUTTACK

88

BOI CUTTACK

28

SBI DAMANJODI

89

BOI,JODA

29

SBI DEOGARH

90

BOI,ROURKELA

30

SBI DHARAMGARH

91

BOI JAYDEVB,BHUBANESWAR

31

SBI DHENKANAL

92

UBI ,BHUBANESWAR

32

SBI G.UDAYAGIRI

93

UBI CUTTACK

33

SBI GUNUPUR

94

UBI,PARADEEP

34

SBI JAGATSIGPUR

95

UBI, ROURKELA

35

SBI JAJPUR ROAD

96

UBI, BARIPADA

36

SBI JAJPUR TOWN

97

UBI, BALASORE

37

SBI JALESWAR

98

CANARA BANK, CUTTACK

38

SBI JATNI

99

CANARA BANK, ERHAMPUR

39

SBI JEYPORE

100

BOB, CUTTACK

40

SBI JHARSUGUDA

101

PNB, BHUBANESWAR

41

SBI KAMAKSHYANAR

102

PNB, CUTTACK

42

SBI KANTABANJI

103

PNB, JHARSUGUDA

43

SBI KARANJIA

104

UCO BK, BHUBANESWAR

44

SBI KENDRAPARA

105

UCO BANK BRAJRAJNAGAR

45

SBI KEONJHAR

106

UCO BANK RAJGANGPUR

46

SBI KESINGA

107

UCO BANK BERHAMPUR

47

SBI KHARIAR

108

UCO BANK ROURKELA

48

SBI KHURDA

109

UCOBK, DHERA

49

SBI KODALA

110

UCO BANK BALASORE

50

SBI KORAPUT

111

UCO BANK SAMBALPUR

51

SBI KUCHINDA

112

UCO BANK, BAJRAKABATI ROAD

52

SBI M.RAMPUR

113

IOB SAHEED NAGAR

53

SBI MALGODOWN

114

IOB,GAJAPATI NAGAR,BERHAMPUR

54

SBI MALKANGIRI

115

SYNDICATE BK. BHUBANESWAR

55

SBI NAWAPARA

116

INDIAN BANK BHUBANESWAR

56

SBI NAYAGARH

117

ANDHRA BK. BHUBANESWAR

57

SBI NOWRANGPUR

118

ANDHRA BANK BERHAMPUR

58

SBI PADAMPUR

119

VIJAYA BANK BHUBANESWAR

59

SBI PARADEEP

120

ICICI BANK BHUBANESWAR

60

SBI PARLAKHEMUNDI

121

AXIS BANK, BHUBANESWAR

61

SBI PATNAGARH

122

HDFC BANK, BHUBANESWAR


Top 
 
© 2004. Reserve Bank of India. All Rights Reserved.
Best viewed in 1024x768 resolution in IE 5 and above.