If you are also thinking of taking a bank locker on rent, then you must also be aware of these rules related to RBI’s bank locker.
People often keep their important things like jewelry, property papers in bank lockers. The Reserve Bank of India (RBI) had issued a notification in 2021. In this notification, changes in the rules related to bank lockers have been told. The new rules have come into force from January this year. This change has been made by the RBI to protect people’s valuable assets from theft and fraud. There are complaints of theft from customers regarding bank lockers. In many cases, even after making great efforts, the stolen goods are not recovered. In view of all these problems, the Reserve Bank of India had to make major changes in the rules related to bank lockers. According to the new rules, if the goods are stolen from your bank locker, then the bank will be responsible for it. There is also a provision for fine on this. Let us know about other similar rules related to bank locker.
What are the new rules
According to the new bank locker rules of Reserve Bank of India (RBI), now you will get notification on accessing your locker to avoid any kind of fraud. This notification will reach you through SMS and e-mail. Along with this, the bank can take maintenance rent from you for a maximum period of 3 years. RBI has made it mandatory to monitor the movement inside the locker room through CCTV cameras.
Advance rules
According to the new rules of RBI, now banks will have to tell the customers about the lockers lying empty. Along with this, bank cannot take advance for locker for more than 3 years. Also, if customers want to have a locker, they will have to pay a term deposit, which will be equal to the rent of the locker for three years.
Rules related to CCTV footage
The CCTV footage of the locker will be kept securely for 6 months. In case of theft in the locker, the police will be able to access these footage. In the earlier situation, if the goods were stolen from your bank locker, then the bank could not be held responsible for it. Also, the customer did not get any compensation. But according to the new rules of RBI, if there is theft, fire damage, robbery or any accident in the customer’s bank locker, then the bank will give compensation of 100 times the rent of the locker to the customers. Along with this, the bank will also have to keep transparency with its customer. Banks can no longer hide information from customers in case of theft or any untoward incident in the locker.
