Jammu, Oct 23: Strengthening its currency management infrastructure, J&K Bank today commissioned the Currency Chest Building at its Regional Business Centre (RBC), Jammu, marking a step towards supporting efficient cash distribution and dependable banking services in the region.
Regional Director, Reserve Bank of India (RBI), Prabhakar Jha and the Bank’s MD & CEO Amitava Chatterjee commissioned the building in the presence of RBI Deputy General Managers Ram Sarup and Vinod Kumar; the Bank’s GM & Divisional Head (Jammu) Ashok Gupta, Deputy General Manager Anup Bhat and Zonal Head (Jammu) Chandrika Parihar.
Speaking on the occasion, MD & CEO Amitava Chatterjee said, “Strengthening our currency management infrastructure is an investment in the convenience of the people we serve. This facility will support our branches and branches of other banks aligned with this currency chest in Jammu in meeting customers’ cash requirements while strengthening our capacity to serve households, traders and businesses across the region.”
“Even as we expand digital banking, dependable access to cash remains essential for many customers and local economic activities. Our focus is on strengthening both digital services and physical infrastructure to meet the diverse needs of our customers. We value the RBI’s continued guidance in strengthening our currency management systems and practices,” he added.
In his remarks, Regional Director RBI Prabhakar Jha said, “Efficient currency management is an essential component of public service. Currency chests play an important role in ensuring the availability of banknotes, coins and facilitating the withdrawal of soiled notes from circulation. Strengthening this infrastructure supports the banking system’s ability to meet the currency needs of the public.”
He further emphasised the importance of sound operational controls, adherence to prescribed procedures and close coordination among banks to ensure secure and efficient currency distribution.
Notably, the commissioning of the building reflects the Bank’s continued focus on strengthening the infrastructure that supports its service network and its role in the region’s economy.
