New Delhi: Bank locker rules will be changed from January 1, 2023. The apex bank in the country, the Reserve Bank of India (RBI) has asked all banks to issue the locker agreement to its holders before January 1, 2023.Earlier on August 8, 2021, the RBI had released revised locker rules.
As per the latest guidelines, it is mandatory for banks to install CCTV to monitor the locker rooms. Banks must keep the data of CCTV for 180 days. This will help in checking if any discrepancy occurs. All banks must send SMS and e-mails every time a customer accesses his locker to protect customers from fraud. The bank customers can get up to 100 times the bank charges if the valuables stored in the lockers are robbed or destroyed due to fire or building collapse.
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As per the RBI guidelines, the banks can now demand a term deposit at the time of allocation of a locker that would be taken as the rent for three years. However, for the existing locker holders, banks cannot insist on such Term Deposits or from those who have satisfactory operative accounts.
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