Bank locker new rules: There is a lot of discussion going on about the new rules of bank locker. There are many customers who do not have any knowledge about these new rules. Please tell that the new rules are only for the benefit of the customer, so go to the bank without delay.
What is new bank locker rule: Reserve Bank of India (RBI) has issued new rules regarding bank locker. These new rules have come into force from 1 January 2022. But many customers still have no idea about them. Explain that the condition of RBI is that bank locker holders will have to show eligibility for new locker agreement within the time limit and will have to enter into an agreement for renewal. These rules have been implemented due to the ever increasing complaints from the customers taking lockers in the bank.
The Reserve Bank has directed all banks to sign new agreements with at least 50 percent of their locker holders by June 30, 2023. At the same time, by 30 September, 75 percent and 100 percent customers should be signed on the new locker agreement by 31 December. Along with this, customers of all banks have also been asked to inform about the details of the new agreement. All banks will also have to update the status of their locker agreement on the efficient portal of RBI.
What did RBI say
As per RBI, while allotting a locker to a customer, the bank shall enter into an agreement on paper duly stamped with the customer to whom the locker facility has been provided. A customer should have two copies of the agreement signed by both the parties with a bank to enable the locker-hirer to know his/her rights and responsibilities. According to these new rules, now banks cannot say that they have no responsibility for the goods kept in the locker. In case of theft, fraud, fire or building collapse, the liability of the banks will be up to 100 times of the annual rent of the locker. Apart from this, the bank will have to take all necessary steps for the safety of the locker.
Who will pay the stamp paper charges, the bank or the customer
After the new rule, customers are facing some problems. While some banks are asking locker owners to submit stamp agreement on Rs 500 paper, some are ready to accept Rs 100 stamp paper. In which it is not clear who will bear the expenses of the stamp paper. Some banks are giving stamp paper while some banks are asking customers to bring stamp paper. At the same time, some customers also complain that the banks have not informed them about the renewal of the locker agreement.
Banks increased locker charges
At this time banks have increased the locker charges. State Bank of India (SBI) has increased the rates for different types of lockers from Rs 500-3,000 per annum to Rs 1,500-12,000 plus GST, depending on the location of the branch. SBI charges Rs 3,000 plus GST for renting a medium-sized locker from urban and metro customers and Rs 2,000 plus GST for renting a locker from rural, semi-urban customers. HDFC Bank charges Rs 1,350 to Rs 20,000 annually for a locker, depending on the location and type.
