Under the new rules of RBI, it is mandatory for all existing locker holders to sign a new updated rental agreement. If you have not completed this process yet, then your bank locker can also be sealed. That is, if you have not signed a new locker agreement yet, then settle it as soon as possible, otherwise your locker may be sealed.

What is the whole matter?

RBI had changed the bank locker rules in August 2021 to ensure the safety of customers and make transactions more transparent. Under these rules, customers who have taken a locker before January 2023 are required to sign a new locker agreement.

However, many customers were not able to complete this process on time, so RBI first extended the deadline from January 2023 to December 2023, then to March 2024. There are still lakhs of customers left, so banks have asked RBI and the Finance Ministry to extend the new deadline to December 2025.

What is written in the new agreement?

Limited liability of the bank: If the locker is damaged due to theft, fire or natural calamity, the bank will not be solely responsible. The locker rent, usage rules and complaint redressal procedure are clearly stated. Also, the bank has to explain all the terms and conditions related to the locker service to the customer.

Stamp Paper : The agreement must be signed on non-judicial stamp paper.

Who all have to sign?

• Customers who took lockers before January 2023
• joint locker holder
• Nominee should be added.
• You are renewing your locker or shifting your branch.
• NRI and senior citizen customers may face problems in getting access to stamp paper or bank branch, hence special facilities have been provided for them.

How to know whether you signed the agreement or not?

If you are not sure whether you have signed a new agreement or not, then go to your bank branch and get the information. If you have not done it, then complete the process immediately. Also, if you have not added a nominee yet, then do add him too. This can avoid any legal problems in the future.

Which documents will be required?

• PAN card
• Aadhar card
• Passport (if available)
• Old locker agreement or related document

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The post Bank locker users should immediately go to their bank and sign, otherwise their bank locker will be sealed first appeared on Rightsofemployees.com.

In such a situation, if you have not yet signed your locker agreement, then do it immediately or else your locker will be sealed.

Under the instructions of the Reserve Bank of India (RBI), it has been made mandatory for all banks to get the customers to sign a new revised locker agreement. This rule came into effect from January 1, 2023 and customers were given time till December 31, 2024 to comply with it.

Why is a new agreement necessary?

RBI has asked banks to adopt standard agreements to increase the security and transparency of locker customers. In this, the rights and responsibilities of both customers and banks are clearly defined. In the new agreement, the responsibility of the bank will be limited. In case of theft, fire, or accident, the bank will be held responsible to some extent. The customer will have to follow the terms of proper use of the locker and timely payment of rent.

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The rent of the locker depends on its size and the location of the branch. For example, in which branch in the city or village you are opening your bank locker. The rent depends a lot on this.

Here we are comparing locker rents of four major banks in 2025, so that you can understand which bank offers the cheapest option. Rents in rural areas are not included in this comparison.

SBI (State Bank of India)

The locker rent in SBI is decided according to the location and size. Along with this, a registration fee is also charged.

Small and medium lockers: Rs 500 + GST

Large and extra-large lockers: Rs 1,000 + GST

Annual Locker Rent in Urban & Metro Branches:

Small: Rs 2,000 + GST

Medium: Rs 4,000 + GST

Large: Rs 8,000 + GST

XL: Rs 12,000 + GST

PNB(Punjab National Bank)

In PNB, 25% premium is added in metro branches. If you have paid advance rent on closing the locker, then the refund will be done at the annual rate.

Registration Fee

Urban/Metro: Rs 500

Annual Locker Rent at Urban/Metro Branches:

Small: Rs 2,000

Medium: Rs 3,500

Large: Rs 5,500

Very Large: Rs 8,000

XL: Rs 10,000

HDFC Bank

Fares in HDFC may vary slightly depending on the branch. GST will be charged separately.

Locker Rent at Metro Branches (Annual):

Extra Small: Rs 1,350

Small: Rs 2,200

Medium: Rs 4,000

Extra Medium: Rs 4,400

Large: Rs 10,000

XL: Rs 20,000

ICICI Bank

Locker rent in ICICI varies according to the branch and is considered to be the most expensive. The rent has to be paid in advance.

Locker Rent at Metro Branches (Annual):

Small: Rs 3,500

Medium: Rs 7,500

Large: Rs 13,000

XL: Rs 20,000–Rs 22,000

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There are 2 ways to make a nominee

Simultaneous – In this all four people get the money in a pre-decided share. For example, if you decide that A will get 40%, B will get 30%, C will get 20% and D will get 10%, then after you leave, they will get the money accordingly.

Successive – In this, only the first person will get the money. If he is not there or refuses to take the money, then the second person becomes entitled, then the third and then the fourth.

Only one nomination after another is valid for a bank locker or the goods you have kept in the custody of the bank. In this too, four people can be made nominees in sequence. If you have not made any nomination and there is a claimant after you, then they will have to provide documents like will, succession certificate. This work can be long and troublesome.

How to find old or forgotten money?

If you had deposited some money in the bank and it remained there for 10 years without any transaction, then it will now go to RBI’s DEA fund. But don’t worry, you can withdraw this money from your bank at any time.

If you have invested money in a company’s bond and have not withdrawn it for 7 years, then that money and the interest on it will go to the IEPF fund. Similarly, if any dividend is not withdrawn for 7 years, then that too goes to the IEPF. Therefore, it is advisable to make a nomination for your bank account and locker now, so that your loved ones do not face any problem after your death.

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Many people rent bank lockers to keep their precious jewellery, important documents and personal belongings safe. Customers can also take a joint locker if they wish. For this, both the customers have to come to the bank and sign a joint memorandum. A nominee can also be made for the locker.

If the locker holder dies and he has made someone a nominee, then after complete verification, the bank allows that person to open the locker and take out the items. You cannot keep whatever you want in the locker. RBI has also made a list of what can be kept in the locker and what cannot. As far as cash is concerned, banks do not allow keeping cash in the locker.

You can keep jewellery, property documents, loan documents, birth or marriage certificate, documents like insurance policy and other legally valid items in the locker. According to RBI guidelines, keeping cash and currency in the locker is prohibited. Apart from this, you cannot keep weapons, ammunition, drugs, explosives, contraband material, perishable or radioactive items and any such thing in the locker which may cause trouble for the bank or customers.

Agreement is done on stamp paper

RBI had issued revised rules for Safe Deposit Locker in August 2022, which have been implemented on old locker holders from January 2023 and on new customers from January 2022. Under these rules, it is now mandatory for banks to enter into a locker agreement with customers on a new stamp paper. Banks can charge rent for a maximum of three years at a time. The bank has to make public the information about vacant lockers and waiting list.

Will the bank compensate for the loss?

According to the rules of the Reserve Bank of India, if the items kept in the locker are damaged due to the negligence or security lapse of the bank, then the bank will have to compensate for the loss. Banks are responsible for incidents like fire, theft, robbery or building collapse.

Yes, if the items kept in the locker are destroyed due to natural disasters like flood or earthquake, then the bank will not be responsible. It is also important to know here that if the item kept in the locker is lost or destroyed, the bank does not pay the full value of that item to the customer. Compensation is given only up to 100 times the annual rent. For example, if the annual rent of the locker is ₹ 1000, then the maximum compensation can be up to ₹ 1 lakh only.

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First of all, an important thing like bank locker keys should be kept very carefully, but if it is lost then there is no need to worry too much. Banks provide clear rules and solutions for this situation.

What to do first if you lose your bank locker keys?

If you have lost the key to your bank locker, first of all inform your bank immediately. You can inform the bank by visiting the bank branch or contact them via phone. It is important to give this information to the bank so that the locker can be protected from any possible misuse.

Banks prefer to take information about lost keys in writing. You will have to submit a written complaint containing the locker number, branch name and other necessary details. Along with this, an FIR (losing person report) will also have to be lodged at the police station and a copy of the same will have to be given to the bank.

Locker opening procedure

In case of loss of keys, banks take the help of experts (locker manufacturing companies) to get a new key made or to open the locker. In this, the locker is safely broken and a new key is issued. This process happens in front of you so that transparency is maintained.

Who will bear the expense of breaking the locker?

After losing the locker key, the customer has to bear the cost of making it again or breaking the locker. This cost depends on the bank’s policy and the condition of the locker. The key of the bank locker is the responsibility of the customer. While signing the bank locker agreement, it is made clear that if the key is lost, the entire responsibility will be on the customer. Therefore, always keep in mind to keep the key in a safe place and do not unnecessarily share it with others.

keep these things in mind

• Keep the key of the bank locker in a place where there is no risk of losing it.
• Keep a key ring with the keys so that they can be easily identified.
• Do not share any locker related information with others.

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Let us tell you that the locker rent depends on its size and branch location (metro, urban, semi-urban, rural). Apart from this, you also have to pay registration charge and 18 percent GST for the locker. The bank gives you free visits within a fixed limit in a year, after the limit you have to pay a separate charge + GST ​​for each visit.

There is a limit on free visits

The registration and free visit limits may vary in different banks. Bank lockers have their own advantages, where you can keep your valuables safe. This is the reason why there is a huge demand for lockers in metro and urban locations. Let us know which bank is charging how much for a locker right now.

State Bank of India

The country’s largest public sector bank – SBI is giving its customers small size lockers at Rs 2000, medium size lockers at Rs 4000, large size lockers at Rs 8000 and extra large size lockers at Rs 12,000 per year on rent in metro and urban locations. Apart from this, the bank is giving small size lockers at Rs 1500, medium size lockers at Rs 3000, large size lockers at Rs 6000 and extra large size lockers at Rs 9000 per year on rent in semi-urban and rural locations.

Punjab National Bank

Public sector Punjab National Bank (PNB) is offering its customers in urban and metro locations small size lockers at an annual rent of Rs 2000, medium size lockers at Rs 3500, large size lockers at Rs 5500, very large size lockers at Rs 8000 and extra large size lockers at Rs 10,000.

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The post Bank Locker Charges: SBI, PNB increased locker rent, check how much you will have to pay now first appeared on Rightsofemployees.com.

Let us tell you that RBI rules apply on bank lockers. The Reserve Bank of India has set a guideline, which gives information like what can be kept in the locker or the liability of the bank in case of theft or loss of any item.

RBI’s bank locker rules also explain the process of renewing the bank locker agreement. Account holders who have entered into agreements for lockers on or before December 31, 2023, will have to sign the revised agreement and submit it to the bank.

Who can open a bank locker and what are its basic requirements?

In some banks, to avail the locker facility, customers need to open a savings account or current account in that bank. To avail the locker facility, PAN card or Aadhaar card and a recent photograph along with identification proof and address proof have to be submitted.

Sign the locker agreement: For the locker, the bank provides a document that explains how the bank’s locker service will work. Both parties have to sign this agreement. Locker allotment: Bank lockers range in size from small to large and can be single-tiered or multi-tiered in design. After getting the locker, the customer is given a specific number of keys to open his locker and the bank has the master key. Payment:

In most cases, banks demand a security deposit which can be in the form of a fixed deposit or a cash amount. Apart from this, the fee for renting a locker depends on the location of the branch and the size of the locker being rented. Important things related to bank locker:

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Bank lockers are quite safe. However, to be on the safer side, you should get the valuables kept in your locker insured as most banks provide a disclaimer stating that they will not be responsible for any loss of items kept in the locker.

Make sure to nominate someone for the locker so that after the death of the account holder, he/she can access the locker.

According to the new rule, in case of any loss caused to the user due to negligence on the part of the bank, the maximum liability of the bank will be 100 times the annual locker rent. That is, the bank will have to pay 100 times the annual fee of the locker to the user. The bank will not have any liability in case of natural disasters.

Natural disaster means earthquake, flood, lightning, storm etc. The bank will not be responsible for any damage caused to the bank locker due to them.

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The post Bank Locker Rule: RBI has recently made some changes in the rules related to lockers first appeared on Rightsofemployees.com.

Banks give compensation only in some cases. Let us know about the rules for keeping your belongings in a bank locker.

The bank does not take responsibility in these cases

When you rent a locker from a bank, it is similar to the relationship between a landlord and a tenant. Just as a landlord does not take responsibility for the belongings of the tenant, the bank does not take responsibility for the items kept in your locker.

Also Read: Public Holiday: Schools-colleges-banks will remain closed in this state on August 9, know why?

There is a contract between you and the bank which states that they will not be liable for any damage in case of natural disasters or other unforeseen events. The bank will try to keep your belongings safe, but they will not take responsibility for any potential damage.

This is what RBI rules say

RBI has implemented new rules for lockers from January 2022. Due to which banks can no longer escape responsibility for the items kept in the locker. If there is any mishap like theft, fraud, fire or building collapse, the bank’s liability is limited to 100 times the annual rent. Banks also have to ensure that the locker is secure and inform customers via email and text if someone accesses it.

All locker rooms now require CCTV surveillance and the footage has to be saved for 180 days. If a bank employee messes up and breaches security or loses something from the locker, the bank has to take the blame.

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Many people think that they can keep anything in the bank, but according to the rules of the Reserve Bank of India, some things are prohibited in it. Let us know what are the revised rules of the Reserve Bank of India.

What can be kept in a bank locker?

According to the Reserve Bank of India, a bank locker can be used only for legitimate purposes. Valuables like jewellery and documents can be stored in it. These things of yours remain completely safe in the locker.

What things are prohibited to be kept in a bank locker

• According to the website of State Bank of India, first of all you cannot keep cash or currency in the locker. 
• Apart from this, things like weapons, explosives, drugs etc. cannot be kept in any bank locker. 
• If there is any perishable item then it also cannot be kept in the locker. 
• Any radioactive material or any illegal thing or any thing which is prohibited as per Indian law also cannot be kept in a bank locker. 
• No such material can be kept in the bank locker which may pose a threat to the bank or any of its customers.

Bank locker opens with two keys

Two keys are required to open a bank locker. One key is with the customer and the other with the bank manager. Unless both keys are used, the locker will not open. Now the question is what will happen if you lose the key of the bank locker? What are the rules regarding bank locker? Let’s know.

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That means, those who have a locker in the bank, they have to go to the bank and submit the new locker agreement by December 31, 2022. If you do not renew your bank locker agreement, your bank locker will be seized.

How to renew bank locker agreement?

To renew the bank locker agreement, you will first have to go to your bank branch. After this you will have to apply to the bank to renew the bank locker agreement. After this, stamp paper and e-stamping etc. will be provided by the bank. After renewing the bank locker agreement, a copy of it will also be given to you by the bank.

Benefits of renewing bank locker agreement

Locker Security: The biggest advantage of renewing a bank locker agreement is that the bank will then become responsible for the security of your belongings, so that there is no loss to your belongings in case of theft, fire, robbery, fraud and bank building collapse. .

No locker seizure: One of the biggest advantages of renewing bank locker agreement is that your locker will not be seized. You will be able to easily put and take out your luggage in the locker.

Compensation: After renewing the bank locker agreement, if there is any damage to your belongings and it is the bank’s fault, then you will also get compensation for the same. The Bank is not liable for any damage or loss of contents of the locker due to natural calamities or acts of God, such as floods.

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Most banks in the country provide locker facilities to customers to keep their valuables. In return, banks charge customers a fare which varies from bank to bank. Many times it is seen that due to some reason the goods kept in the bank locker go missing. How much compensation will customers get if this happens? Let us know what are the rules regarding this.

How much compensation is given for theft from bank locker?

The bank is responsible for the proper functioning of the locker and its complete security. In such a situation, if there is any loss to your locker due to the negligence of the bank, the bank will be responsible for it and you will be given appropriate compensation.

At the same time, if your belongings go missing from a bank locker due to theft, robbery or building collapse, then as per the rules, the bank will give you 100 times the amount of locker rent as compensation. For example, if the rent for your lock is Rs 3,000, then if items go missing from the bank locker due to theft, robbery or building collapse, you will be given Rs 3,00,000 as compensation.

According to the information given on the SBI website, it is the responsibility of the branch to ensure that no incident of theft, robbery and building collapse takes place in the bank premises. At the same time, if the goods go missing from the locker present in the bank premises due to the above mentioned reasons or fraud committed by the employee, then the bank will give compensation of 100 times the amount of locker rent to the customer.

What happens when the locker is inactive?

If a customer has taken the locker on rent and the rent is being paid on time, but has not opened the locker for more than seven years. In such a situation the bank will consider the locker inactive. Then the nominee and legal heir will be called and the contents of the locker will be transferred in a transparent manner.

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Many of us use bank lockers for the safety of jewelery to important documents. If you also hold a locker in a bank or are planning to do so soon, then you should know the new rules related to it. The Reserve Bank of India (RBI) has also given instructions to the banks for this.

RBI says that banks will now have to renew the contract for renting lockers with their customers. According to the new rules, this contract will be prepared, in which it will be clearly mentioned that what kind of goods the customers can keep in their locker and what kind cannot.

Only these things can be kept in the locker

According to the new rules of RBI, now customers will be able to keep only legally valid items like jewelery and important documents in the bank locker. In the contract with the bank, the customer will be told in detail what kind of goods are allowed to be kept and what are not.

Not only this, the lockers of the bank will now be given only to the customers for their personal use. These will be non-transferrable. Indian Banks Association will make a model agreement. On the basis of this, banks will prepare the contracts to be done with their customers.

Bank will bear the cost of stamp paper

The bank will bear the cost of stamp paper for renewal of the contract of the existing locker customers of the bank. While other customers will have to pay the cost of stamp paper of the contract on taking the bank locker.

There will be a ban on keeping these goods

Many people keep such things in their bank locker which are not legally valid. Sometimes it is also harmful. Now RBI has also made it clear that what items the customers cannot keep in their lockers.

It has been said by the central bank that now customers will not be able to keep cash or foreign currency in their lockers. Along with this, there will be a ban on keeping weapons, drugs or medicines, contraband or any dangerous or poisonous goods.

Bank will get relief from these responsibilities

With this, the agreement that will be signed between the bank and the customer. In that, the bank will get relief from many responsibilities. For example, the bank will not be responsible for any misuse or illegal use of the password or key of the bank locker. It will be the responsibility of the customer only.

At the same time, the customer will have the right to keep his belongings in the locker. The bank will have to protect the same and if the bank fails to do so, it will have to pay compensation to the customer under the rules related to it from time to time.

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In today’s time, everyone keeps their deposits in the bank only. Not only for depositing deposits, but we also like to keep our expensive jewelry, house-shop and all the important documents in the bank itself. People keep things safely in the bank locker, but do not break it for a long time. If you have also kept your belongings in the bank locker, but have not broken it, then this is news of your work.

Even in this situation your locker can be inactive.

If the bank locker has not been opened for a long time, then you must check once whether the locker has been de-activated. Recently, in the new guidelines issued by RBI regarding bank locker, some amendments have been made in the old locker rules. It has been said in this that if the locker is not broken for a long time, then it gets closed automatically, even if you are paying the rent regularly. In this, guidelines have also been given regarding the deactivated bank locker.

Locker will be closed in this time

According to RBI, if someone has not opened the bank locker within 7 years, then such locker will be deactivated. In such a situation, the bank will first wait for the claim of that customer. If he does not claim but pays the regular rent, then the locker will be dismantled by the bank itself.

The rule of breaking the deactivated locker

will be first transferred by the bank to the nominee or legal heir of the locker as per RBI guidelines. In case the nominee is not traceable, the bank will first inform the bank locker-hirer. Along with this, an alert message will be sent to the email and mobile number. If the letter sent by the bank is returned or the person is not traceable, then the bank has to inform in the daily newspaper.

Bank issues information

This information article is given in English and another in the local language. Any person who is interested in the same has to respond to the bank. If even then no one claims, then the locker is broken by the bank.

Locker breaking process Video recording of the whole process is done in the presence of two witnesses after

the bank official breaks the locker and takes out the goods. If there is a smart vault, then the vault administrator uses the password to break the locker. After opening the locker, it is handed over to the senior officer.

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Yes, State Bank of India has taken steps to change the rules of its locker. According to the information, the new rules of bank locker will be made effective after 30 June 2023. If you have a locker in SBI, then you must contact your branch without delay.

SBI tweeted

Yes, want to sign this new agreement. State Bank of India has made a tweet appealing to the customers who have taken the locker to sign the new agreement, in which the bank has said, “Dear customer, please visit your branch for settlement of the revised locker agreement. If you have already Even if you have already signed the updated agreement, you need to sign the supplementary agreement.”

Knowing the new rule of the locker will jump with joy, according to the new bank locker agreement, if there is a loss in the locker, the bank will compensate its customers. For this, a new agreement will have to be signed. RBI has already said in this regard that the customers who will sign this new agreement immediately, they will start getting many benefits from the same time.

Please tell that till now there was no such provision. After signing the new agreement, the bank will indemnify the locker for theft, burglary, robbery, negligence of the bank or any other incident on the part of its employees. This compensation will be up to 100 times the annual rent of the locker.

Customers taking lockers should contact their bank immediately

RBI has also appealed to the customers to sign a new agreement with their banks as per the circular issued on January 23, 2023. Keep this in mind that the new locker agreement has been prepared on the instructions of RBI. In such a situation, apart from SBI, those who have other bank lockers will also have to sign this agreement.

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Explain that the Reserve Bank of India has extended the date of renewal for banks till 31 December 2023. Under this, 50 percent work is to be completed by June 30, 2023.

SBI issued alert for customers

Giving an update to its customers, State Bank of India (SBI) said that we request our customers to contact their branch and sign the revised locker agreement. SBI has also made a tweet regarding this. SBI has issued a revised locker agreement incorporating the rights of the customers. The Bank has requested its customers to approach their branch and execute the revised locker agreement as applicable.

Because of this SBI had increased the debt limit

The Reserve Bank of India (RBI) in January extended the deadline for banks to enter into revised agreements with safe deposit locker holders till the end of December. The reason for this is that there are still many customers who have not completed it. In August 2021, the RBI had asked banks to enter into revised agreements with existing locker holders by January 1, 2023, in view of various developments in banking and technology, customer complaints and feedback received from them.

Customers haven’t signed in yet

RBI has said in a statement that still many customers have not signed the revised agreement. Apart from this, banks have not yet informed the customers about doing so before the due date. Apart from this, RBI also said that many bank customers are facing difficulties in doing so. Banks will also have to arrange for stamp paper with their customers, electronic execution of agreement, e-stamping, and give a copy of the agreement to the customer.

The post SBI has issued an alert: Bank locker holders should settle this work immediately before June 30 first appeared on Rightsofemployees.com.

Many of us use bank lockers for the safety of jewelery to important documents. If you also hold a locker in a bank or are planning to do so soon, then you should know the new rules related to it. The Reserve Bank of India (RBI) has also given instructions to the banks for this.

RBI says that banks will now have to renew the contract for renting lockers with their customers. According to the new rules, this contract will be prepared, in which it will be clearly mentioned that what kind of goods the customers can keep in their locker and what kind cannot.

Only these things can be kept in the locker

According to the new rules of RBI, now customers will be able to keep only legally valid items like jewelery and important documents in the bank locker. In the contract with the bank, the customer will be told in detail what kind of goods are allowed to be kept and what are not.

Not only this, the lockers of the bank will now be given only to the customers for their personal use. These will be non-transferrable. Indian Banks Association will make a model agreement. On the basis of this, banks will prepare the contracts to be done with their customers.

Bank will bear the cost of stamp paper

The bank will bear the cost of stamp paper for renewal of the contract of the existing locker customers of the bank. While other customers will have to pay the cost of stamp paper of the contract on taking the bank locker.

There will be a ban on keeping these goods

Many people keep such things in their bank locker which are not legally valid. Sometimes it is also harmful. Now RBI has also made it clear that what items the customers cannot keep in their lockers.

It has been said by the central bank that now customers will not be able to keep cash or foreign currency in their lockers. Along with this, there will be a ban on keeping weapons, drugs or medicines, contraband or any dangerous or poisonous goods.

Bank will get relief from these responsibilities

With this, the agreement that will be signed between the bank and the customer. In that, the bank will get relief from many responsibilities. For example, the bank will not be responsible for any misuse or illegal use of the password or key of the bank locker. It will be the responsibility of the customer only.

At the same time, the customer will have the right to keep his belongings in the locker. The bank will have to protect the same and if the bank fails to do so, it will have to pay compensation to the customer under the rules related to it from time to time.

The post RBI issued new rule of bank locker: Now you can keep only these things in bank locker, check new rule first appeared on Rightsofemployees.com.

Because there are many works from PAN card to DigiLocker whose deadline will end after 30th June. You should finish all these works before 30th June. So that you do not have to face any problem later. And avoid the penalty imposed after June 30.

If you have not yet linked your PAN card with Aadhaar card, then you should get the PAN-Aadhaar link done by June 30. Because you have only till June 30 to get this work done. If you are not able to do this work in this time limit. So you will have to pay a fee of Rs 1000 to link PAN Aadhaar after June 30, only then you will be able to link PAN-Aadhaar after the month of June.

People across the country who have not updated their Aadhaar for 10 years, you can update your Aadhaar for free till June 14. And if you do this work online. So you will not have to pay any money for this. On the other hand, if you update your Aadhaar by going to the Aadhaar center, then you will have to pay Rs 50 for it.

Bank locker agreement

Now let’s talk about bank locker agreement, people who use bank locker agreement. Those people who have not yet implemented their bank locker agreement should also implement their bank locker agreement soon. Because the government has fixed its last date as June 30. Therefore, according to the new rules, customers should also settle the work of bank locker agreement before June 30. So that you don’t have any problem later on.

Indian Bank Special FD

Those who are planning to invest, they can invest in Indian Bank’s special FD ‘Ind Super 400 Days’ scheme. Customers have the chance till June 30 to invest in this scheme. After this they will not be able to take advantage of this scheme. Those who have invested do not need to worry about the closure of this scheme. Because his entire money will be returned with interest on completion of maturity. With the closure of this scheme, new customers will not be able to invest after June 30.

Application for High Pension

If you do a job and want to apply for more pension, then you will have to settle the work of applying for more pension by June 26. Because its last date has been fixed on 26 June. If you apply for more pension by June 26, then you can be benefited. If you miss the last date to apply. So you will not be able to apply for more pension later.

SBI Amrit Kalash Special FD

Investors investing in FD scheme, if they want to invest in SBI’s Amrit Kalash Special FD, then they can get good returns by investing in this special FD till 30. If you miss investing till June 30, then after June 30, new customers will not be able to invest in this FD scheme. Because new customers have the chance to invest in this scheme only till June 30.

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Many of us use bank lockers for the safety of jewelery to important documents. If you also hold a locker in a bank or are planning to do so soon, then you should know the new rules related to it. The Reserve Bank of India (RBI) has also given instructions to the banks for this.

RBI says that banks will now have to renew the contract for renting lockers with their customers. According to the new rules, this contract will be prepared, in which it will be clearly mentioned that what kind of goods the customers can keep in their locker and what kind cannot.

Only these things can be kept in the locker

According to the new rules of RBI, now customers will be able to keep only legally valid items like jewelery and important documents in the bank locker. In the contract with the bank, the customer will be told in detail what kind of goods are allowed to be kept and what are not.

Not only this, the lockers of the bank will now be given only to the customers for their personal use. These will be non-transferrable. Indian Banks Association will make a model agreement. On the basis of this, banks will prepare the contracts to be done with their customers.

Bank will bear the cost of stamp paper

The bank will bear the cost of stamp paper for renewal of the contract of the existing locker customers of the bank. While other customers will have to pay the cost of stamp paper of the contract on taking the bank locker.

There will be a ban on keeping these goods

Many people keep such things in their bank locker which are not legally valid. Sometimes it is also harmful. Now RBI has also made it clear that what items the customers cannot keep in their lockers.

It has been said by the central bank that now customers will not be able to keep cash or foreign currency in their lockers. Along with this, there will be a ban on keeping weapons, drugs or medicines, contraband or any dangerous or poisonous goods.

Bank will get relief from these responsibilities

With this, the agreement that will be signed between the bank and the customer. In that, the bank will get relief from many responsibilities. For example, the bank will not be responsible for any misuse or illegal use of the password or key of the bank locker. It will be the responsibility of the customer only.

At the same time, the customer will have the right to keep his belongings in the locker. The bank will have to protect the same and if the bank fails to do so, it will have to pay compensation to the customer under the rules related to it from time to time.

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They feel that their belongings will be safe in the locker. But, sometimes even the stuff kept in the locker goes missing or gets damaged. In such a situation, banks refuse to take responsibility for it. If you are also thinking of taking a locker, then before that you should know the locker rule of RBI.

This is the rule of RBI

RBI has changed the rules of bank locker this year. According to the new rule, if a person keeps goods in the locker of the bank and it gets damaged, then it will be the responsibility of the bank. The bank will be bound to pay 100 times the annual rent of the locker to the customer. On the other hand, if the customer’s locker is damaged due to fire, robbery or in any way, the bank will compensate it.

How can I get a locker in the bank?

If you want to take a locker in the bank, then you will have to first go to the branch where you want to open your locker, then you will have to apply there. Locker is allotted to you on first come first serve basis. If your name comes in the waiting list of the bank after giving the application, then you are given a locker. For this you are also charged some rent annually.

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This change has been made keeping in mind the safety and convenience of the customers. If you also have a locker of any bank and have kept gold-silver or other valuables in it, then definitely read this news.

The bank will have to pay compensation

According to the notification issued by the RBI, the rules have been changed by the Central (RBI) on the complaint of the customers taking locker in the bank. Often customers keep complaining of theft in bank lockers. Even after long efforts, such customers do not get any satisfactory solution for the stolen goods. But now in case of any untoward incident with the goods kept in the locker, the concerned bank will compensate the customer up to 100 times the locker rent.

There will be transparency in the locker system, many times such cases have come to the fore in which banks used to get away from the theft incident. He hurls the customer saying that he is not responsible in any way. In the order given by RBI, it was said that banks will have to put the list of empty lockers, waiting list number for the locker on the display. This will bring more transparency in the locker system. RBI says that the customer cannot be kept in the dark on behalf of the bank.

Rules for taking rent of the locker On accessing the locker, an alert will be given to you through e-mail and SMS through the bank. RBI has made this rule to protect against any kind of fraud. Banks have the right to take the locker rent for a maximum period of three years at a time. If the locker rent is Rs 2000, then the bank cannot charge you more than Rs 6000, excluding other maintenance charges.

Every person entering the locker room and bank staff is required to be monitored by CCTV cameras. Apart from this, the bank will have to keep 180 days (6 months) of CCTV footage safe. The police will be able to investigate with the help of CCTV footage in case of theft or any other mishap.

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What is written in the notification?

In the RBI notification, customers were asked to renew the locker agreements by January 1, 2023. Banks are also sending SMS regarding this to their customers. Customers will have to produce evidence to prove eligibility for the locker system. But some customers have received SMS related to the agreement from the bank regarding the locker, while some customers say that they have not received any message at all.

How to update locker agreement

If you have not yet renewed the locker agreement, then contact the bank for this and get the agreement updated. Customers should use the locker at least once in a year. You can open the locker by following the protocol attached to the agreement.

What is locker agreement and how to do it?

Locker agreement is an agreement between the bank and the customer on a sealed document. A copy of this signed agreement is given to the customer. In this, the customer is told about his responsibilities and rights. The bank is responsible for the security of the locker. RBI’s notification says that it is the responsibility of the bank to take all necessary steps regarding the security of its campus so that the essential goods of the customer are safe.

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What is written in the notification?

In the RBI notification, customers were asked to renew the locker agreements by January 1, 2023. Banks are also sending SMS regarding this to their customers. Customers will have to produce evidence to prove eligibility for the locker system. But some customers have received SMS related to the agreement from the bank regarding the locker, while some customers say that they have not received any message at all.

How to update locker agreement

If you have not yet renewed the locker agreement, then contact the bank for this and get the agreement updated. Customers should use the locker at least once in a year. You can open the locker by following the protocol attached to the agreement.

What is locker agreement and how to do it?

Locker agreement is an agreement between the bank and the customer on a sealed document. A copy of this signed agreement is given to the customer. In this, the customer is told about his responsibilities and rights. The bank is responsible for the security of the locker. RBI’s notification says that it is the responsibility of the bank to take all necessary steps regarding the security of its campus so that the essential goods of the customer are safe.

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Many people use the locker facility provided by banks to keep their valuables like jewellery, property papers, FD documents etc. safe. For this, banks charge an annual charge or rent. The Reserve Bank of India had issued new guidelines related to the last Khal Bank Locker. This has changed some rules.

Now it will be easier for the customer to handle the locker and the responsibility of the bank will increase. Along with this, in case of any recall, it will be easier for the bank as well. Now banks also have to keep in mind that they cannot add any unreasonable condition or rule in the locker agreement. Also cannot keep difficult conditions. Overall, now the safety management of the locker, rent and verification will have to be done. Explain that usually the bank provides three types of lockers to the people such as small, medium and large.

Now the agreement will have to be renewed

If you have not made the agreement till now, then you can know about it by going to the bank and by filling a new form, you can make a new agreement on the duty stamp paper. Both the parties will have to keep its copy with them.

Banks can take term deposits

Now, according to the new rule, banks can take term deposits only at the time of giving new lockers. It can cover rent for three years. Also, the charge for breaking the locker for any reason, but banks cannot compel old customers to take term deposits or those who are already running the account satisfactorily.

If there is shifting of locker

If the branch of the bank is merged with another branch or is closed or has to be shifted, in which the location of the physical locker has to be changed, then the bank will have to publish a notice in at least two newspapers. The customer will have to inform about this two months in advance so that he can decide to continue, discontinue the locker facility etc. If the locker rent has already been taken, the refund will have to be given to the customer.

Make a nominee Often we make the mistake of not making anyone a nominee in a bank locker, but do not do this, make your locker a joint name or make someone a nominee. Many such cases come to the fore when after some untoward incident happens with the owner of the locker, later the family members have to face many difficulties in accessing that locker or their account.

Locker will break only after 2 years

If a locker is not in use, the time limit for legally breaking the locker has been made 2 years because many times the customers neither pay the rent to the bank nor use the locker. Here, if the locker rent continues to come but the customer who has taken the locker does not come to operate it for a long time, then he can give his goods to the legal heir or nominee, but this will be done in a transit way.

Banks will have to increase the safety of lockers

Banks will have to make adequate arrangements for the security of the locker. Bank will be liable up to 100 times the rent of the bank locker in case of fire, theft, robbery, robbery or building collapse due to negligence or neglect of the bank. However, in the case of sky lightning, flood, earthquake etc. which are not in the work of the bank and which are called act and ass, the bank will not be responsible for them. RBI has clearly said in the notification that banks will have to increase the security in their campus.

Will get notification

Customer will get SMS and Email notification every time the locker is used. This will reduce the worry of locker in their mind. If your email and phone number is not updated in the bank, then definitely get it done. The Bank is responsible for the security measures in case the locker is operated through electronic system. If the customer forgets the password, the bank will provide a new password. If the locker key is lost, inform the bank immediately.

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This change has been made keeping in mind the safety and convenience of the customers. If you also have a locker of any bank and have kept gold-silver or other valuables in it, then definitely read this news.

The bank will have to pay compensation

According to the notification issued by the RBI, the rules have been changed by the Central (RBI) on the complaint of the customers taking locker in the bank. Often customers keep complaining of theft in bank lockers. Even after long efforts, such customers do not get any satisfactory solution for the stolen goods. But now in case of any untoward incident with the goods kept in the locker, the concerned bank will compensate the customer up to 100 times the locker rent.

There will be transparency in the locker system, many times such cases have come to the fore in which banks used to get away from the theft incident. He hurls the customer saying that he is not responsible in any way. In the order given by RBI, it was said that banks will have to put the list of empty lockers, waiting list number for the locker on the display. This will bring more transparency in the locker system. RBI says that the customer cannot be kept in the dark on behalf of the bank.

Rules for taking rent of the locker On accessing the locker, an alert will be given to you through e-mail and SMS through the bank. RBI has made this rule to protect against any kind of fraud. Banks have the right to take the locker rent for a maximum period of three years at a time. If the locker rent is Rs 2000, then the bank cannot charge you more than Rs 6000, excluding other maintenance charges.

Every person entering the locker room and bank staff is required to be monitored by CCTV cameras. Apart from this, the bank will have to keep 180 days (6 months) of CCTV footage safe. The police will be able to investigate with the help of CCTV footage in case of theft or any other mishap.

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What is written in the notification?

In the RBI notification, customers were asked to renew the locker agreements by January 1, 2023. Banks are also sending SMS regarding this to their customers. Customers will have to produce evidence to prove eligibility for the locker system. But some customers have received SMS related to the agreement from the bank regarding the locker, while some customers say that they have not received any message at all.

How to update locker agreement

If you have not yet renewed the locker agreement, then contact the bank for this and get the agreement updated. Customers should use the locker at least once in a year. You can open the locker by following the protocol attached to the agreement.

What is locker agreement and how to do it?

Locker agreement is an agreement between the bank and the customer on a sealed document. A copy of this signed agreement is given to the customer. In this, the customer is told about his responsibilities and rights. The bank is responsible for the security of the locker. RBI’s notification says that it is the responsibility of the bank to take all necessary steps regarding the security of its campus so that the essential goods of the customer are safe.

The post Bank Locker Agreement Rules: Big news! Do this work immediately, otherwise life’s savings can be lost! first appeared on Rightsofemployees.com.

Bank Locker Agreement Notification: People often keep their valuables, papers and lifetime savings in bank lockers. But from January 1, 2023, a new bank locker rule has come into force. Your belongings are also kept in the bank locker, so read this news carefully. In the new notification of Reserve Bank of India i.e. RBI, new updates have come regarding the agreements of safe deposit locker.

What is written in the notification?

In the RBI notification, customers were asked to renew the locker agreements by January 1, 2023. Banks are also sending SMS regarding this to their customers. Customers will have to produce evidence to prove eligibility for the locker system. But some customers have received SMS related to the agreement from the bank regarding the locker, while some customers say that they have not received any message at all.

How to update locker agreement

If you have not yet renewed the locker agreement, then contact the bank for this and get the agreement updated. Customers should use the locker at least once in a year. You can open the locker by following the protocol attached to the agreement.

What is locker agreement and how to do it?

Locker agreement is an agreement between the bank and the customer on a sealed document. A copy of this signed agreement is given to the customer. In this, the customer is told about his responsibilities and rights. The bank is responsible for the security of the locker. RBI’s notification says that it is the responsibility of the bank to take all necessary steps regarding the security of its campus so that the essential goods of the customer are safe.

The post Bank Locker Charges! Important things are kept in the bank locker, then do this work immediately, otherwise there will be huge loss first appeared on Rightsofemployees.com.

In fact, with the beginning of the new year on January 1, 2023, the Reserve Bank has changed the rules related to lockers. After the implementation of this rule, banks will not be able to do arbitrariness with the customers regarding the locker.

If there is a lot of damage to the goods kept in the locker, then the responsibility of the bank will now be fixed. Apart from this, now customers will have to sign an agreement with the bank. Through this, customers will have to inform the bank about the change in locker rules through SMS and other means. So let’s know everything about it…

How can I get the locker?

You will have to give an application to the branch where you want to open the locker. Locker facility is provided on first come first serve basis. If your name is on the waiting list, you will be eligible once a user has left the locker. For this, it is also necessary to have a minimum amount in the bank account and annual rent is charged from the account.

How much is the charge?

Depending on the size and location of the locker, its annual charges are also fixed. It can be different in all banks. The charge of bank locker in SBI ranges from 2 thousand to 12 thousand. PNB charges from 1250 to 10 thousand rupees for bank locker. This charge in Canara Bank ranges from 2 thousand to 10 thousand. In HDFC, this charge ranges from 3 thousand to 20 thousand. In ICICI Bank, this charge starts from Rs 1200 and goes up to Rs 5000.

Under what conditions does the bank give compensation?

As per the new norms of RBI, if there is any damage to the contents kept in the locker due to the negligence of the bank, then the bank will have to pay for it. It is the responsibility of the banks to take all steps for the security of the premises in which the safe deposit vaults are kept. If the loss is due to fraud committed by the bank’s employees, the bank’s liability will be up to 100 times the annual rent of the locker.

Agreement will have to be done for renewal

Before January 1, 2023, locker holders will have to show eligibility for new locker agreement and will have to enter into an agreement for renewal. ‘As per RBI guidelines, the new locker agreement is to be executed before 31 December 2022.’

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NPS partial withdrawal

After easing the Corona epidemic, PFRDA issued a new order regarding this, according to which customers of all government sector customers (Central, State and Central Autonomous Bodies) will now have to submit their application for partial withdrawal (NPS Partial Withdrawal) to their nodal officer. Must be deposited with Explain that in January 2021, the pension regulator PFRDA had allowed NPS subscribers to submit online applications for partial withdrawals with the help of self-declaration.

New Bank Locker rules

A new guideline related to bank locker has been issued by the Reserve Bank of India (RBI). The new rules will come into effect from January 1, 2023. Under this, banks will no longer be able to do arbitrariness with customers on the issue of lockers.

According to the new rule, if there is any damage to the goods kept in the bank locker, then the bank will be responsible for it. For this, an agreement will be signed between the bank and the customer, which will be valid till December 31. Banks will have to give all the information to the customers through SMS and other means about the change in the rules related to the locker.

Changes in Credit Card Rules

From January 1, 2023, there is a change in the reward points received on payment through credit card. From the beginning of the new year, HDFC Bank will change the reward points received on payment from its credit card. In such a situation, customers have been advised to pay all the remaining reward points in their credit cards before December 31, 2022. Because from January 1, 2023, under the new rules, the facilities of reward points will be given.

Changes in CNG-PNG Price

With the change in the prices of petrol and diesel from January 1 in the new year, there may also be a change in the prices of CNG and PNG gas used in the kitchen of homes. During the last one year, there has been an increase of more than 70 percent in the prices of CNG in the national capital and its surrounding areas. On the other hand, since August 2021, 10 hikes have been recorded in PNG rates.

GST related rules will change

There will also be important changes in the rules related to GST e-invoicing and electronic bill. The government has reduced the threshold limit for GST e-invoicing from Rs 20 crore to Rs 5 crore. In such a situation, it will now be necessary for traders whose turnover is five crore rupees or more to generate electronic bills.

AADHAAR AND PAN CARD LINK

The IT department has issued an advisory saying that the PAN (Permanent Account Number) which is not linked to Aadhaar by the end of March next year will be deactivated. This change will be applicable from the first date of April instead of January.

The post New Year 2023: From January 1, the rules from kitchen, car to bank locker will change, check the complete list first appeared on Rightsofemployees.com.

If you also use Bank Locker or are planning to get a bank locker, then this is useful news for you. Actually, from January 1, 2023, the rules of bank locker are going to change. The Reserve Bank of India (RBI) has said that all major banks have been asked to issue locker agreements to their holders before January 1, 2023. As per RBI’s revised rules, banks will ensure that their locker agreements do not contain any unfair terms or conditions. The bank will also renew the agreement with its existing locker customers. The new locker rules will come into effect from January 1, 2023.

Banks will give information about new rules through SMS

After the implementation of the new rules, banks will not be able to do arbitrariness with the customers regarding lockers. If there is any damage to the goods kept in the bank locker, the responsibility of the bank will now be fixed. The bank will have to sign the agreement by December 31. Customers will have to inform the bank about the change in locker rules through SMS.

Bank will compensate for the loss

According to the new rules of RBI, if the things kept in the locker are damaged due to the negligence of the bank, then the bank will pay for it. It is the responsibility of the banks to take necessary steps for the security of the area or branch. Bank will compensate up to 100 times of the annual rent of the locker if the loss is due to fraud by the Bank’s employee.

Compensation will not be available in these circumstances

The bank will not give compensation in case of natural calamities like earthquake, flood, lightning, storm etc. The Bank will not be responsible for any loss due to customer’s fault or negligence. RBI said that all banks will have to issue new locker rules, so that the interest of the customers is protected. Banks can prepare model locker agreement as per the draft rules of IBA. These are made as per the guidelines of the Supreme Court.

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Let us see what are the rules applicable from the first of the next month.5 big changes are going to happen from the first date. One of these is the increase in the price of vehicles. Maruti Suzuki, Hyundai Motor, Tata Motors, Mercedes-Benz, Audi, Renault, Kia India and MG Motor will increase the price of their vehicles from January 1, 2023.

The second change is related to the bank locker. You need to ensure that you have signed the new Locker Agreement for using the Bank Locker from 1st date onwards

Apart from this, the rules related to some bank credit cards are also going to change. For example, HDFC Bank will change the rewards point and fee structure of the credit card. Along with this, SBI has also changed some rules for its Simply CLICK card holders.

GST rules will also change from January 1. It will now be necessary for businessmen with an annual turnover of more than 5 crores to generate e-invoices.

It also includes a change related to the phone. From 1st date, registration of IMEI number of every phone will be necessary for every phone manufacturer and its import and export company.

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Banks like Punjab National Bank (PNB) are also sending alert SMS to alert the customers about the locker agreement. In the message being sent by PNB to the customers, it is written that ‘as per RBI guidelines, the new locker agreement is to be executed before December 31, 2022′. Please confirm if not already done – Team PNB’.

If you also use a bank locker or are planning to rent a locker, then you must know about the locker rules of the Reserve Bank of India (RBI). RBI had announced new guidelines through notifications on 8 August 2021 and new rules have come into force from 1 January 2022. Locker holders will have to show eligibility for a new locker agreement and enter into an agreement for renewal before January 1, 2023.

Revised instructions of RBI

According to the Reserve Bank of India’s revised instructions notification, ‘Banks shall ensure that no unfair terms or conditions are included in their locker agreements. Further, to protect the interest of the Bank, the terms of the contract shall not be more onerous than would be necessary in the ordinary course of business. Banks will renew their locker agreements with existing locker customers by January 1, 2023.

What is locker agreement As per the Locker Agreement Policy of PNB, at the time of allotting a locker to any customer, the bank enters into an agreement with the customer to whom the locker facility is provided, on a duly stamped paper. A copy of the locker agreement signed by both the parties is given to the locker-hirer to know his/her rights and responsibilities. While the original copy of the agreement made is with the branch of the bank where the locker facility is provided to the customer.

These rules have come into force from January 1, 2022
SMS & Email Alerts

Customer, whenever you access your locker, its alert will be given through e-mail and SMS through the bank. These messages will be sent as confirmation by the banks to the registered email address and mobile number of the customer before the end of the day. This message shall inform the customers about the date, time and possible remedies in case of unauthorized locker access.

Bank will give compensation in these situations

• As per the new norms of RBI, if there is any damage to the contents kept in the locker due to the negligence of the bank, then the bank will have to pay for it. 
• The RBI notification says, it is the responsibility of the banks to take all steps for the security of the premises in which the safe deposit vault is kept. 
• It is the Bank’s responsibility to ensure that incidents like fire, theft/robbery, building collapse do not occur in the Bank’s premises due to its own lapses, negligence and lapses.  
• Banks cannot claim that they do not bear any liability to their customers for loss of contents of lockers.
• In cases where the loss of the contents of the locker is due to the events mentioned above or due to fraud committed by the employees of the bank, the liability of the bank will be up to 100 times of the annual rent of the locker.

Bank will not compensate in these situations

The Bank will not be responsible for any damage caused to the contents of the Locker due to natural calamities like earthquake, flood, lightning, storm etc., due to customer’s fault or negligence. On the other hand, banks should take proper precautions with their locker systems to secure their facilities from such disasters.

Banks will continue to accept fixed deposits to recover locker rent. To ensure prompt payment of locker rent, banks are permitted to obtain a fixed deposit at the time of allotment, which will cover three years’ rent and locker opening charges in case of any such eventuality. However, banks will not insist on such fixed deposits from existing locker holders or accounts with satisfactory conduct.

On death of the account holder

If the sole locker holder nominates a person to receive the contents of the locker in the event of death, the bank will verify the death certificate of the account holder and the identity of the nominee after taking a list in the prescribed manner and after being satisfied, the nominee will be Will give permission to take the contents of the locker.

If the locker was hired jointly with instructions to operate it under joint signature and the locker hirer nominates any other person, the Bank shall give liberty to the survivors and the nominee to remove the contents jointly.

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This change has been made keeping in mind the safety and convenience of the customers. If you also have a locker of any bank and have kept gold-silver or other valuables in it, then definitely read this news.

The bank will have to pay compensation

According to the notification issued by the RBI, the rules have been changed by the Central (RBI) on the complaint of the customers taking locker in the bank. Often customers keep complaining of theft in bank lockers. Even after long efforts, such customers do not get any satisfactory solution for the stolen goods. But now in case of any untoward incident with the goods kept in the locker, the concerned bank will compensate the customer up to 100 times the locker rent.

There will be transparency in the locker system, many times such cases have come to the fore in which banks used to get away from the theft incident. He hurls the customer saying that he is not responsible in any way. In the order given by RBI, it was said that banks will have to put the list of empty lockers, waiting list number for the locker on the display. This will bring more transparency in the locker system. RBI says that the customer cannot be kept in the dark on behalf of the bank.

Rules for taking rent of the locker On accessing the locker, an alert will be given to you through e-mail and SMS through the bank. RBI has made this rule to protect against any kind of fraud. Banks have the right to take the locker rent for a maximum period of three years at a time. If the locker rent is Rs 2000, then the bank cannot charge you more than Rs 6000, excluding other maintenance charges.

Every person entering the locker room and bank staff is required to be monitored by CCTV cameras. Apart from this, the bank will have to keep 180 days (6 months) of CCTV footage safe. The police will be able to investigate with the help of CCTV footage in case of theft or any other mishap.

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If you are also planning to open a locker in a bank or you already have a locker in a bank, then it is very important for you to know about the new rules. The new rules have come into effect from January 1, 2022. Let us know the complete details about it.

After continuous complaints of customers on bank lockers, the Reserve Bank has decided to change the existing rules. If you are not yet aware of these changed rules, we bring you a detailed look at the rule changes applicable for bank lockers.

Bank will give compensation for theft

There have been many cases where cases of theft from bank lockers have come to the fore. To prevent this, the Reserve Bank has now made strict rules, due to which the responsibility of the banks has increased.

Now if something is stolen from your bank locker or there is any problem related to it then the bank will have to compensate the customer 100 times of the locker rent. Now banks cannot say that they are not responsible for bank locker theft.

CCTV mandatory

Now it will be mandatory for banks to install CCTV for monitoring the locker rooms. Along with this, it has also been made mandatory to keep the data of CCTV for 180 days.

This will help in checking whether there is any discrepancy. Till the completion of the police investigation, it has also been made necessary to keep a record of the CCTV footage in case the customer complains of any disturbance or theft in the bank.

E-mail & SMS Alerts

To protect customers from fraud, the Reserve Bank has now mandated that banks must send SMS and e-mails every time a customer accesses his locker. This alert will protect the customers from fraud.

Can’t give half-incomplete or wrong information to customers

According to the new rules of the Reserve Bank, banks can no longer give half-incomplete or wrong information about the locker to the customers. They have to make public the list of empty lockers, waiting list of lockers and number of waiting list.

These will have to be displayed on the display board of the bank. Also, they have to accept all the applications related to opening of lockers and inform the customers about the waiting list.

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This change has been made keeping in mind the safety and convenience of the customers. If you also have a locker of any bank and have kept gold-silver or other valuables in it, then definitely read this news.

The bank will have to pay compensation

According to the notification issued by the RBI, the rules have been changed by the Central (RBI) on the complaint of the customers taking locker in the bank. Often customers keep complaining of theft in bank lockers. Even after long efforts, such customers do not get any satisfactory solution for the stolen goods. But now in case of any untoward incident with the goods kept in the locker, the concerned bank will compensate the customer up to 100 times the locker rent.

There will be transparency in the locker system, many times such cases have come to the fore in which banks used to get away from the theft incident. He hurls the customer saying that he is not responsible in any way. In the order given by RBI, it was said that banks will have to put the list of empty lockers, waiting list number for the locker on the display. This will bring more transparency in the locker system. RBI says that the customer cannot be kept in the dark on behalf of the bank.

Rules for taking rent of the locker On accessing the locker, an alert will be given to you through e-mail and SMS through the bank. RBI has made this rule to protect against any kind of fraud. Banks have the right to take the locker rent for a maximum period of three years at a time. If the locker rent is Rs 2000, then the bank cannot charge you more than Rs 6000, excluding other c

Every person entering the locker room and bank staff is required to be monitored by CCTV cameras. Apart from this, the bank will have to keep 180 days (6 months) of CCTV footage safe. The police will be able to investigate with the help of CCTV footage in case of theft or any other mishap.

The post RBI’s new rules for bank lockers: RBI made a big change in the rules related to bank locker, check new rule immediately first appeared on Rightsofemployees.com.

SBI, HDFC Bank, PNB, ICICI Bank have released the locker fee. SBI has proposed to increase the fee for extra large size lockers from Rs 9,000 to Rs 12,000. Similarly, other banks have also increased the locker charges. Due to which now customers will have to pay more money for using bank locker.

The bank allows customers to keep valuables such as property documents, jewellery, loan documents, savings bonds, insurance policies and other confidential items in a safe. In return for providing the locker facility, the bank charges the customers an annual rent based on the size of the locker and the location of the bank branch. A copy of the agreement governing the use of the locker is given to the hirer at the time of handing over the locker. As per the rules, the customer has to pay the rent in full before the beginning of the financial year.

SBI locker charges

According to the SBI Bank website, bank locker fees range from Rs 500 to Rs 3,000 depending on the area and the size of the locker. In metro and metropolitan areas, the bank charges Rs 2,000, Rs 4,000, Rs 8,000 and Rs 12,000 for small, medium, large and extra large size lockers. In semi-urban and rural locations, the bank charges Rs 1,500, Rs 3,000, Rs 6,000 and Rs 9,000 for small, medium, large and extra large size lockers.

HDFC bank locker charges

HDFC Bank locker fees can range from Rs 3,000 to Rs 20,000 per annum depending on the size, availability and location of the locker. In metro and urban locations, this is usually an annual fee of Rs 3,000 for small lockers, Rs 5,000 for medium-sized lockers and Rs 10,000 for large lockers.

ICICI Bank Locker Fee

ICICI Bank charges between Rs 1,200 to Rs 5,000 for a small size locker and between Rs 10,000 to Rs 22,000 for an extra large locker. Keep in mind that GST is not included in these charges.

PNB bank locker charge

The annual locker rent in PNB bank varies in rural and semi-urban areas. The bank charges Rs 1250 to Rs 2000 to Rs 10,000 for urban and metro areas.

Axis and Canara Bank Locker Charges

The fee for locker registration in Axis Bank is Rs.1000 + GST. Free locker visits are limited to three per calendar month. Whereas, for Canara Bank customers, the one-time locker registration fee is Rs 400 plus GST.

The post Bank Locker Charges Increased: Keeping goods in Bank Locker will be expensive, these 5 banks have increased the fees first appeared on Rightsofemployees.com.

Before the change in the rules, banks used to shirk from taking responsibility for any items stolen from the locker, but now they will not be able to do so.

Usually, in the case of bank theft, they used to separate themselves by saying that the bank is not responsible for the goods kept inside the locker. After the implementation of the new rules, if there is any damage to the goods kept in the locker or if it is stolen, then the banks will not be able to withdraw from their liability. Let us see what are the new changes in the bank locker rules from January 1, 2022.

Will have to make full compensation

According to the new rule by RBI regarding bank locker, if there is some damage to any item kept in the locker, then the bank will compensate 100 percent of it. RBI has made this change in the rules in view of the increasing cases of theft of valuable jewelry and other assets kept in the lockers of banks.

In addition to the list of lockers, the RBI has assigned another responsibility to the banks. RBI has said that now banks will have to tell how many empty lockers they have and how much waiting period is going on for how many lockers. This is expected to increase transparency regarding bank lockers.

Freeze on rent

You can rent a locker from banks for 3 years. In lieu of this, the banks tell something else for the rent and the actual rent is something else after including many types of charges. Changes have also been made in this. Suppose the rent of a locker is Rs 10,000, then the bank will not charge you more than Rs 30,000 in 3 years. If any other charges are to be levied, the same will be informed to the customer in advance. Apart from this, a rule has also been brought for the prevention of fraud that if you use your locker, you will be informed about it through SMS or email. With this, no one else will be able to use your locker.

The post New bank locker rules: RBI changed the rules related to bank locker, big relief to the customers first appeared on Rightsofemployees.com.

This change has been made keeping in mind the safety and convenience of the customers. If you also have a locker of any bank and have kept gold-silver or other valuables in it, then definitely read this news.

The bank will have to pay compensation

According to the notification issued by the RBI, the rules have been changed by the Central (RBI) on the complaint of the customers taking locker in the bank. Often customers keep complaining of theft in bank lockers. Even after long efforts, such customers do not get any satisfactory solution for the stolen goods. But now in case of any untoward incident with the goods kept in the locker, the concerned bank will compensate the customer up to 100 times the locker rent.

There will be transparency in the locker system, many times such cases have come to the fore in which banks used to get away from the theft incident. He hurls the customer saying that he is not responsible in any way. In the order given by RBI, it was said that banks will have to put the list of empty lockers, waiting list number for the locker on the display. This will bring more transparency in the locker system. RBI says that the customer cannot be kept in the dark on behalf of the bank.

Rules for taking rent of the locker On accessing the locker, an alert will be given to you through e-mail and SMS through the bank. RBI has made this rule to protect against any kind of fraud. Banks have the right to take the locker rent for a maximum period of three years at a time. If the locker rent is Rs 2000, then the bank cannot charge you more than Rs 6000, excluding other maintenance charges.

Every person entering the locker room and bank staff is required to be monitored by CCTV cameras. Apart from this, the bank will have to keep 180 days (6 months) of CCTV footage safe. The police will be able to investigate with the help of CCTV footage in case of theft or any other mishap.

The post RBI’s Issued New Rules for Bank Locker: RBI made a big change in the rules related to bank locker, check new rule immediately first appeared on Rightsofemployees.com.

This change has been made keeping in mind the safety and convenience of the customers. If you also have a locker of any bank and have kept gold-silver or other valuables in it, then definitely read this news.

The bank will have to pay compensation

According to the notification issued by the RBI, the rules have been changed by the Central (RBI) on the complaint of the customers taking locker in the bank. Often customers keep complaining of theft in bank lockers. Even after long efforts, such customers do not get any satisfactory solution for the stolen goods. But now in case of any untoward incident with the goods kept in the locker, the concerned bank will compensate the customer up to 100 times the locker rent.

There will be transparency in the locker system, many times such cases have come to the fore in which banks used to get away from the theft incident. He hurls the customer saying that he is not responsible in any way. In the order given by RBI, it was said that banks will have to put the list of empty lockers, waiting list number for the locker on the display. This will bring more transparency in the locker system. RBI says that the customer cannot be kept in the dark on behalf of the bank.

Rules for taking rent of the locker On accessing the locker, an alert will be given to you through e-mail and SMS through the bank. RBI has made this rule to protect against any kind of fraud. Banks have the right to take the locker rent for a maximum period of three years at a time. If the locker rent is Rs 2000, then the bank cannot charge you more than Rs 6000, excluding other maintenance charges.

Every person entering the locker room and bank staff is required to be monitored by CCTV cameras. Apart from this, the bank will have to keep 180 days (6 months) of CCTV footage safe. The police will be able to investigate with the help of CCTV footage in case of theft or any other mishap.

The post RBI’s new guideline for bank lockers: RBI made a big change in the rules related to bank locker, check new rule immediately first appeared on Rightsofemployees.com.

This change has been made keeping in mind the safety and convenience of the customers. If you also have a locker of any bank and have kept gold-silver or other valuables in it, then definitely read this news.

The bank will have to pay compensation

According to the notification issued by the RBI, the rules have been changed by the Central (RBI) on the complaint of the customers taking locker in the bank. Often customers keep complaining of theft in bank lockers. Even after long efforts, such customers do not get any satisfactory solution for the stolen goods. But now in case of any untoward incident with the goods kept in the locker, the concerned bank will compensate the customer up to 100 times the locker rent.

There will be transparency in the locker system, many times such cases have come to the fore in which banks used to get away from the theft incident. He hurls the customer saying that he is not responsible in any way. In the order given by RBI, it was said that banks will have to put the list of empty lockers, waiting list number for the locker on the display. This will bring more transparency in the locker system. RBI says that the customer cannot be kept in the dark on behalf of the bank.

Rules for taking rent of the locker On accessing the locker, an alert will be given to you through e-mail and SMS through the bank. RBI has made this rule to protect against any kind of fraud. Banks have the right to take the locker rent for a maximum period of three years at a time. If the locker rent is Rs 2000, then the bank cannot charge you more than Rs 6000, excluding other maintenance charges.

Every person entering the locker room and bank staff is required to be monitored by CCTV cameras. Apart from this, the bank will have to keep 180 days (6 months) of CCTV footage safe. The police will be able to investigate with the help of CCTV footage in case of theft or any other mishap.

The post RBI’s new guideline for bank lockers: RBI made a big change in the rules related to bank locker, check new rule immediately first appeared on Rightsofemployees.com.

This change has been made keeping in mind the safety and convenience of the customers. If you also have a locker of any bank and have kept gold-silver or other valuables in it, then definitely read this news.

The bank will have to pay compensation

According to the notification issued by the RBI, the rules have been changed by the Central (RBI) on the complaint of the customers taking locker in the bank. Often customers keep complaining of theft in bank lockers. Even after long efforts, such customers do not get any satisfactory solution for the stolen goods. But now in case of any untoward incident with the goods kept in the locker, the concerned bank will compensate the customer up to 100 times the locker rent.

There will be transparency in the locker system, many times such cases have come to the fore in which banks used to get away from the theft incident. He hurls the customer saying that he is not responsible in any way. In the order given by RBI, it was said that banks will have to put the list of empty lockers, waiting list number for the locker on the display. This will bring more transparency in the locker system. RBI says that the customer cannot be kept in the dark on behalf of the bank.

Rules for taking rent of the locker On accessing the locker, an alert will be given to you through e-mail and SMS through the bank. RBI has made this rule to protect against any kind of fraud. Banks have the right to take the locker rent for a maximum period of three years at a time. If the locker rent is Rs 2000, then the bank cannot charge you more than Rs 6000, excluding other maintenance charges.

Every person entering the locker room and bank staff is required to be monitored by CCTV cameras. Apart from this, the bank will have to keep 180 days (6 months) of CCTV footage safe. The police will be able to investigate with the help of CCTV footage in case of theft or any other mishap.

The post RBI’s new guideline for bank lockers: RBI made a big change in the rules related to bank locker, check new rule immediately first appeared on Rightsofemployees.com.

According to the notification issued by the Reserve Bank entitled to get the customer compensation , the Reserve Bank (RBI) has changed the rules on the complaint of customers taking locker in the bank. Often there are complaints of theft in bank lockers from the customers side. But now if anything is stolen from the locker, the customer will be compensated up to 100 times the locker rent from the bank concerned.

The waiting list number will have to be put on the display, in fact, it has been seen many times that banks used to ignore the incident of theft. Used to tell the customer that he is not responsible in any way. In the order given by RBI, it was said that banks will have to put the list of empty lockers, waiting list number for the locker on the display. This will bring more transparency in the locker system. RBI believes that the customer cannot be kept in the dark on behalf of the bank.

You will be able to take rent for maximum 3 years at a time, whenever you access the locker, it will be alerted to you through e-mail and SMS through the bank. RBI has made this rule to protect against any kind of fraud. Banks have the right to take the locker rent for a maximum period of three years at a time. If the locker rent is Rs 2000, then the bank cannot charge you more than Rs 6000, excluding other maintenance charges.

It is also necessary to monitor the people coming and going in the locker room through CCTV cameras. Apart from this, 180 days of CCTV footage will have to be kept safe. The police will be able to investigate with the help of CCTV footage in case of theft or any other mishap.

The post Bank Locker Rules: RBI changed the rules related to bank locker, know the new rule before keeping valuables first appeared on Rightsofemployees.com.

Compensation will be 100 times the rent The Reserve Bank has issued new bank locker rules by issuing a notification last day. These rules have been said to be implemented from January 1, 2022. RBI has changed the rules on the complaint of customers taking locker in the bank. Often there were complaints of theft in bank lockers. But now if anything is stolen from the bank locker, the customer will be compensated 100 times the locker rent on behalf of the concerned bank.

In the hope of bringing more transparency in the system, till now banks used to ignore the incident of theft and used to say that they were not responsible for it. RBI also said in its order that banks will have to display the list of empty lockers, the waiting list number for the locker. This is expected to bring more transparency in the locker system. RBI believes that banks cannot keep the customer in the dark. They have the right to get the right information.

Now whenever you access the locker, it will be alerted to you through e-mail and SMS through the bank . This rule has been made by RBI to prevent any kind of fraud. Also, banks have the right to rent the locker for a maximum period of three years. If the locker rent is Rs 2000, the bank cannot charge you more than Rs 6000, excluding other maintenance charges.

The post Bank Locker Rules Change: Big change regarding the rules related to bank locker, check new rules instantly first appeared on Rightsofemployees.com.