After the order of the court, RBI has issued new bank locker rules. According to this, in case of arson, theft, building collapse or fraud in the bank, the liability of the banks will be up to 100 times the annual rent of its locker.
You must have seen superstar Akshay Kumar’s movie ‘OmyGod’, in that scene when Paresh Rawal’s shop collapses and he goes to the insurance company, the company would have shied away by citing ‘Act of God’. Is. You must be wondering why we are mentioning that film, then let us tell you that the court had directed RBI to clear the ‘Act of God’ and ‘Bank Locker Rules’.
After the order of the court, RBI has issued new bank locker rules. According to this, in case of arson, theft, building collapse or fraud in the bank, the liability of the banks will be limited to 100 times the annual locker rent.
Let us tell you that to keep expensive things and important papers safe, banks provide locker facility to their customers. These are also called safe deposits. All government and private banks provide locker facility, in return for which they charge annual rent from the customers. The Reserve Bank of India (RBI) has issued revised instructions for all banks regarding locker management.
The new revised instructions and existing safe deposit will be applicable to both lockers and safe custody of goods with banks. In a notification, the central bank said that these revised directions will come into effect from January 1, 2022, which will be applicable to both new and existing safe deposit lockers and safe custody of goods with banks.
In order to facilitate informed choice to the customers, banks should prepare a branch wise list of vacant lockers as well as waitlists in the core banking system for transparency in allotment of lockers. The central bank said that banks should accept all applications for allotment of lockers and if the locker is not available for allotment, customers should be given a waiting list number.
Supreme Court had directed
In February 2021, a Supreme Court bench of Justices Mohan M Shatanagoudar and Vineet Saran directed the RBI to frame a uniform rule for all banks with regard to locker management within 6 months.
Banks will be responsible for 100 times the annual rent
In case of fire, theft, building collapse or fraud by bank employees, the liability of banks will be limited to 100 times of his annual rent, as banks cannot claim that they are liable to their customers for the loss of the contents of the locker. are not. In such cases, in the event of loss of contents of the locker or fraud committed by the employees, the liability of the banks shall be for an amount equal to one hundred times the existing annual rent of the safe deposit locker.
