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IndusInd Bank’s currency chest in Kolkata

97IndusInd Bank has set up a state-of-the art currency chest in Kolkata. Rudra Narayan Kar, regional director, RBI, inaugurated the currency chest. Speaking on the occasion, Ramesh Ganesan, head, Transaction Banking, of the bank, said the currency chest is equipped with state-of- the- art cash processing facilities to cater to the needs of the bank’s branches and ATMs in eastern part of the country. This would enable the bank branches to handle larger volumes of cash. This is in line with the bank’s customer centric philosophy to service its customer needs more efficiently, he said. This initiative will help the bank to execute functions like acceptance of cash from branches, ATM replenishments, arrangement of fresh note remittances and remitting soiled notes to RBI. The bank has ambitious plans to increase current network of 129 branches and 217 ATMs in the east zone, post opening of the currency chest. It will also enable customers to exchange their notes into those of higher or lower denominations or to obtain fresh notes by replacing soiled ones, which may be unfit for re-use. With this facility, IndusInd Bank will be able to work on fine cash balances and manage funds according to requirement. The bank’s first currency chest was opened in Thane in June 2012, the second in New Delhi in February 2013 and the third in Chennai in June 2014. The bank has drawn up a plan for setting up a sizeable number of currency chests across India in line with the bank’s business growth.

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