Important change in this bank rule from January 1..!?

Sowmiya Sriram
Important change in this bank rule from january 1..!?

As per RBI's latest bank Locker Rules, all leading banks will have to issue and renew their locker agreement to their customers before january 1. By january 1, 2023, all locker owners will have to express their eligibility for the new locker arrangement and sign the renewal agreement before january 1, 2023. announced as, In this regard, it announced some revised guidelines on august 8, 2021. In this situation, it has been advised to implement the rules and renew them from january 1.
In case of fraud in the customer's belongings by the bank employees or in case of fire, the collapse of the bank building, and damage to the safe deposit box, compensation should be paid. It was earlier announced that the banks will have to pay 100 times the amount of one year's rent to the customer for this compensation. bank lockers should not keep illegal items or dangerous devices. Banks should include this in the contract with the customer so that problems such as illegal items being safely hidden in banks can be avoided.
Banks should publish branch-wise locker vacancy details openly on their website. A customer whose locker is not available should be given a registration number for the waiting period. Several announcements have been made to hold banks liable for loss or damage to items in safety deposit boxes due to the bank's negligence. However, the RBI announced that the banks will not be responsible for the damage caused to the items in the lockers due to natural disasters such as earthquakes, floods, lightning, storms, or due to the negligence of the customer. Banks also have the power to break lockers if they fail to pay locker rent for 3 consecutive years. In case of any event including a bank merger or transfer of a bank branch to another location, or closure of a bank branch, banks should publish it in two newspapers including the local newspaper. This should be notified at least two months in advance. Banks should take adequate measures to protect the lockers. It is essential to preserve the CCTV footage of the entry and exit area for at least 180 days.
As per the new guidelines, existing customers of the bank can provide locker facilities to applicants who fully comply with CDT norms. A bank may provide a locker facility not only to its own customers but also to other customers not related to the bank.
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