A tweet was also done by the State Bank regarding this whole matter. In this tweet, SBI wrote that we request our customers to contact their locker holder branch and implement the revised locker agreements.

What notice has been issued by SBI

State Bank of India (SBI) in its notice wrote that, the bank has issued a revised or supplementary locker agreement incorporating the rights of the customer. Customers availing locker facilities from SBI are requested to approach their locker holding branch and get the amended or supplementary locker agreement applicable.

RBI circular on bank locker

The Reserve Bank of India (RBI) directed banks to inform all customers about the requirements by April 30 and ensure that 50% and 75% of existing customers implement the revised bank locker agreement by June 30 and September 30. RBI had said that banks will have to report compliance status on their supervisory portal.

“Banks are advised to implement new or supplemental stamped agreements with customers through measures such as provision of stamp paper, franking, electronic execution of agreement, e-stamping and delivery of a copy of the applicable agreement to the customer. provide convenience.”

SBI locker fee

The bank will charge annual rent depending on the size of the locker and the center where the branch is located. SBI also charges a one-time locker registration fee of ₹500 plus GST for small and medium lockers while for large and XL lockers, you need to pay ₹1,000 plus GST.

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