RBI Lockers Rule: The number of bank locker users is good. Many prefer to keep valuables in bank lockers. People use bank lockers to keep valuables property like documents and jewellery. RBI Lockers Rule: RBI issued new guidelines for locker users.
However, if the goods are damaged by theft or fire, the customer bears the loss. That is why RBI has issued new regulations regarding locker security. They came into effect from January 1 this year. According to these, the bank management is responsible for the customer’s belongings in the lockers.
If the items in the locker are lost or damaged due to fire, theft or any other reason due to the owner’s negligence, the owner will pay a compensation of 100 times the rent paid by the customer. RBI has clarified that cash cannot be kept in lockers.
As per the new rules, all locker users will have to enter into an agreement with the banks. To this extent, stamp documents of Rs.200 should be notarized and submitted to the bank.
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In that regard, the deadline expired in January itself. Some banks confiscated the lockers of non-contractors. RBI has extended the deadline till December 31 in the wake of customer complaints. Banks have been directed to enable re-use of seized lockers.
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