Now a days many of us use bank locker facility for safe custody of jewelry and important documents. If you have bank locker or planning to open new locker then you must know the RBI new guidelines. Reserve bank of India (RBI) has provided directives to banks.
RBI has issued new guidelines for bank lockers that is only authorized persons will be able to access the bank locker. It means relatives or other cannot operate the locker account.
Following are the new rules for bank locker:
If you use bank locker , you should know the RBI new guidelines are as under:
- The bank must clarify all the terms and conditions regarding what type of jewelry or things they can keep in the locker account.
- Banks will have to disclose the list of empty lockers and waiting list to customers.
- The bank will have to repay to the locker hirer in case any loss due to carelessness of bank such as fire, dacoity, building collapse, or theft etc. The bank will pay up to 100times of annual locker rent.
- The bank will not responsible for any damage or loss of content due to natural calamities like earthquakes , flood, lightning, or thunderstorm or carelessness of customers.
- The bank will have the right to collect maximum rent for 3 years at a time from the customer.
- If a customer suffers loss, the bank can no longer renege on the terms and conditions but bank must compensate the customer.
- The bank will have to clearly state in the agreement what items or jewelry the customer can keep in the locker.
- Only the customer will get access to the bank locker, it means family members or any relatives will not get access.
- At the time of allotment, banks may demand a fixed deposit which will include three years’ rent and locker opening charges to ensure regular payments.
