If you keep a locker in the bank then this news is important for you. After the new instructions of RBI, now it is necessary for the banks to get their customers to sign the new locker agreement. For this, RBI has given proper instructions to the banks as to what to do and what not to do. In the new locker, RBI has forbidden some things that you should know.
The Reserve Bank of India (RBI) has directed banks to enter into a new agreement with their customers for lockers. If you have a locker with a bank, you will now have to sign a new agreement with your bank.
What are forbidden?
The RBI told the banks that in the new agreements with the customers, it should be clearly stated what things the customers can keep in the locker and what things cannot. Important documents, jewelry can be kept while cash, weapons, dangerous substances or narcotics should be declared strictly prohibited, the RBI said.
Purpose to prevent misuse of locker
RBI said that this agreement between banks and customers is according to a model of the Indian Banks Association.
According to the new rules, the authorities aim to prevent any possible misuse of bank lockers to hide illegal cash/currency and even dangerous substances, narcotics and even weapons.
Bank may ask for proof of identity
According to the new agreement, now only the customer who has got the bank locker issue done can take access to the locker. Now he cannot transfer the locker in someone else’s name.
Further, if the customer is not able to establish his identity properly, the bank will not give him access to the locker. The Bank may at any time ask the customers to furnish proof of their identity.
This responsibility will be on the customer
According to the new rules, if the locker key is misused, it will be entirely the responsibility of the customer. In this situation the customer cannot hold the bank responsible.
However, if your belongings kept in the locker go missing, you will have a remedy as per the rules.
Bank will pay the cost of stamp paper
If you are an existing locker customer then you don’t have to pay for the stamp paper, the cost will be borne by the bank, but if you are planning to get a new locker then you will have to pay for the stamp paper.
In addition, banks may recover the locker rent from the customer’s account if the rent/dues are not paid in time.
Till when can we get the agreement done?
RBI had asked the banks to enter into the locker agreement with their customers by January 1, 2023, but later, giving great relief to the customers, the RBI has extended the last date of the agreement to the last day of this year i.e. December 31, 2023.
