Reserve Bank of India (RBI), for the purpose of cash management, identified the institutional framework of Currency Chest with the banks. These chests act as the distributives of RBI cash and enables RBI to take back soiled notes and mutilated notes from the public. Reporting of transactions of Currency Chests to RBI on a daily basis therefore, assumes greater importance and significance in terms of policy guidelines and regulatory framework. Keeping these factors in mind and also the challenges which were encountered, we at IDBI Intech have developed an application known as Currency Chest Management System. i-CCM is a web based application which can be used extensively by Currency Chest to enter and record their daily transactions. Branches can use this application for sending inward and outward remittances request to their respective currency chest. The module provides daily mandatory reports like Inward-Outward Report, Bin Balance Consolidation, Net Effect, Link Office and Chest Slip etc. and an extensive MIS.
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