2023-12-12 05:32:04
RBI Introduces New Bank Locker Rules
The Reserve Bank of India (RBI) has recently implemented new rules regarding bank lockers, which aims to provide more protection to customers who utilize this service. According to the new rule, if a person keeps his belongings in a bank locker and it gets damaged, the bank will be liable to pay the damages.
Under the new rule, the bank will be liable to pay 100 times the annual rent of the locker to the customer in case of any damage. Additionally, if a fire, robbery, or any other mishap occurs in the bank, the bank will compensate the customer for the resulting loss.
In today’s digital age, many people rely on digital transactions and online payments, making bank lockers a vital service for storing valuable items such as jewelry and important documents. However, it is important for customers to be aware of the revised rules and regulations when using bank lockers.
In order to avail the locker facility in a bank, individuals are required to visit the branch where they wish to open the locker, fill out an application form, and submit it to the branch. Lockers are allotted to customers on a first-come, first-served basis, and a certain rent is charged on an annual basis to utilize the locker facility.
It is essential for individuals to be aware of the items that can and cannot be stored in bank lockers. According to the revised rules, bank lockers can be used to store jewelry, documents, and other valuable items, but not cash, currency notes, weapons, explosives, narcotics, or prohibited items.
The new rule implemented by the RBI aims to provide more protection and transparency for customers using bank lockers, ensuring that their valuable items are safeguarded in case of any unforeseen incidents.
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