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Big rules of bank locker are changing from January 1

New Bank Locker Rules: Under the new RBI guidelines, if the locker has not been opened for a long time, banks have been allowed to open the locker. Even if the rent is being paid regularly.

New Delhi:  Bank Locker Rules 1 Jan 2022: At the beginning of the new year, many big rules related to the bank are changing. From ATM rules to bank lockers, such changes are taking place, which will directly affect you. People keep their jewelery and other valuables in the bank locker, so that these expensive items are safe. In fact, our homes are more prone to theft or loss than banks. But now your special facility may be eclipsed. According to the rules of RBI, if you do not open the locker for a long period, then banks can break your locker.

RBI changed big rules

According to the rules, in the event of fire, theft, robbery or burglary in the locker, the bank will be fully responsible and in these circumstances the bank will have to pay 100 times the annual rent of the locker to the customer. At the same time, if the locker is damaged due to natural calamities like earthquake, flood, then the bank will not be responsible for such loss.

new guidelines for banks

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

RBI amended 

Keeping in view the various developments in the field of banking and technology, the nature of consumer complaints and the feedback received from banks and Indian Banks’ Association, RBI has recently revised its guidelines regarding safe deposit lockers. amended and also gave new instructions to banks regarding inoperative bank lockers.

Locker can break the bank

The amended RBI guidelines state that the bank will be free to dismantle the locker and transfer the contents of the locker to its nominee/legal heir or dispose of the items in a transparent manner. The locker-tenant cannot be traced even if it remains dormant for a period of 7 years and regularly pays the rent. But at the same time protecting the public interest, the central bank also issued detailed instructions that should be followed before breaking any locker.

Bank will alert the locker taker

RBI guidelines state that the bank will give notice to the locker-hirer through 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 taker is not traced to the locker hirer, the bank shall give reasonable time to the locker hirer or any other person interested in the contents of the locker to respond. Will issue public notices in letters (one in English and the other in local language).

Locker Opening Guidelines

The central bank’s guidelines further stated that the locker should be opened in the presence of an official of the bank and two independent witnesses and the entire process should be video-recorded. RBI further said that after the locker is opened, the contents will be kept in a sealed envelope with detailed inventory inside a fireproof safe in a tamper proof manner till claimed by the customer.