Customers Have To Create New Bank Locker Agreement Before New Year
Pune, 15th December 2022: Customers of bank lockers must make sure they have a new locker agreement in place before 1st January 2023, the Economic Times reported. Customers are receiving SMS notifications from banks, like Punjab National Bank (PNB), alerting them to the same.
Customers of PNB were informed through a message that the “new Locker Agreement needs to be completed before 31.12.2022 as per RBI Guidelines. Please check if it is not already done – Team PNB.”
Citizens should be aware of the new bank locker regulations set forth by the Reserve Bank of India (RBI), which went into effect on 1st January 1 2022, if they have rented a locker or intend to rent one to store valuables. On 8th August 2021, the RBI published a notification announcing the new rules.
On 1st January 2022, banks began applying operating standards; however, to be eligible for the new pay, safe deposit locker owners must sign a new locker agreement with the bank.
Banks are free to utilise the sample locker agreement created by the IBA. The RBI announcement states that this arrangement must adhere to both the Supreme Court’s orders and the amended guidelines.
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