The Reserve Bank of India (RBI) modifies the rules with the customers’ security and convenience in mind. The regulations governing bank lockers have once more been modified by RBI. If you have put your gold, silver, or other valuables in a bank locker, you should absolutely read this news.
The customer is eligible for compensation
The Reserve Bank (RBI) has modified the guidelines for filing complaints against customers using bank lockers, per a notification it published. There are frequent customer-side allegations of theft in bank lockers. However, the customer will now be compensated up to 100 times the locker rent from the relevant bank if anything is stolen from the locker.
The number on the waiting list will be shown on the display
In reality, it was frequently observed that banks employed this tactic to avoid theft incidence. used to inform the client that he is in no way accountable. According to the RBI’s directive, banks must post a list of available lockers as well as the number on the waiting list for each locker. The locker system will become more transparent as a result. According to RBI, the consumer cannot be kept in the dark on the bank’s behalf.
Can only accept a three-year lease at a time
You will be informed by email and SMS through the bank whenever you enter the locker. This regulation was created by RBI to guard against fraud of any form. Banks are permitted to collect the locker rent for up to three years at a time. The bank is not allowed to charge you more than Rs 6000, excluding additional maintenance fees, if the locker rent is Rs 2000.
CCTV cameras must also be used to keep an eye on who enters and exits the locker room. In addition, 180 days’ worth of CCTV footage must be stored securely. In the event of a theft or other incident, the authorities will be able to investigate with the aid of CCTV footage.
News Mania Desk
