Bank Locker Rules 1 January 2022: The big rules of Bank Locker are changing from 1 January, it is very important for you to know this

New Delhi: Bank Locker Rules 1 January 2022: At the beginning of the new year, many big rules regarding banks are changing. There are changes happening from ATM rules to bank lockers that will directly affect you. People keep their jewelry and other valuables in bank lockers to keep these valuables safe. In fact, our homes are more prone to theft or damage than banks. But now you may be taking special advantage. According to RBI rules, if you do not open the locker for a long time, the banks may break your locker.

The RBI changed the rules drastically

As a rule, the bank will be solely responsible for fire, theft, robbery or burglary in the locker and in this case the bank will have to pay the customer 100 times the annual rent of the locker. At the same time, if the locker is damaged in natural calamities like earthquakes and floods, the bank will not be responsible for such damage.

New guidelines for banks

The Reserve Bank of India (RBI) has issued revised guidelines on safe deposit lockers. In this new guideline, banks are allowed to open the locker, if the locker has not been opened for a long time. Even if rent is paid regularly.

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RBI has amended

In view of the various developments in banking and technology, the nature of consumer complaints and the feedback received from banks and the Banks Association of India, the RBI has recently revised its guidelines on secure deposit lockers. Revised and gave new instructions to banks. Concerning inactive bank locker.

Lockers can break banks

The revised RBI guidelines state that the bank will be free to dismantle the locker and transfer the contents of the locker to its designated / legal heirs or to dispose of items in a transparent manner. The locker-tenant cannot be found despite being dormant for 7 years and paying regular rent. But at the same time the central bank has issued detailed instructions to protect the public interest which must be followed before breaking any locker.

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The bank will alert the locker recipient

The RBI guidelines state that the bank will give notice to the locker-hirer in a letter and send email and SMS alerts to the registered email ID and mobile phone number. If the letter is returned without delivery or the recipient has not been traced to the locker tenant, the bank will give the locker tenant or any other person interested in the contents of the locker reasonable time to reply. The letter will issue a public notice (one in English and the other in the local language).

Locker opening guide

Central bank guidelines further state that the locker should be opened in the presence of a bank official and two independent witnesses and that the entire process be video-recorded. The RBI further said that after opening the locker, the contents will be kept in a sealed envelope with detailed inventory inside a fireproof safe until the customer demands it.

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