Bank Locker Rules Change From 1st January 2023: Every year at the beginning of the new year some or the other changes keep happening, which directly affects your life.
new Delhi. If you also use Bank Locker or are planning to rent a locker, then you must know about the locker rules of Reserve Bank of India (RBI). In fact, with the beginning of the new year on January 1, 2023, the Reserve Bank is going to change the rules related to lockers. After the implementation of this rule, banks will not be able to do arbitrariness with the customers regarding the locker.
If there is a lot of damage to the goods kept in the locker, then the responsibility of the bank will now be fixed. Apart from this, now customers will have to sign an agreement with the bank till 31 December. Through this, customers will have to inform the bank about the change in locker rules through SMS and other means.
Agreement will have to be done for renewal
Before January 1, 2023, locker holders will have to show eligibility for new locker agreement and will have to enter into an agreement for renewal. Banks like Punjab National Bank (PNB) are also sending alert SMS to alert the customers about the locker agreement. In the message being sent by PNB to the customers, it is written that ‘as per RBI guidelines, the new locker agreement is to be executed before December 31, 2022’.
Bank will give compensation
According to the new norms of RBI, if there is any damage to the material kept in the locker due to the negligence of the bank, then the bank will have to pay for it. It is the responsibility of the banks to take all steps for the security of the premises in which the safe deposit vaults are kept. If the loss is due to fraud committed by the bank’s employees, the bank’s liability will be up to 100 times the annual rent of the locker.
Compensation will not be available in these situations.
If natural calamities like earthquake, flood, lightning, storm etc., any kind of damage is caused to the contents kept in the locker due to customer’s fault or negligence, then the bank will not be responsible for the same.
