Bank will give compensation if theft takes place in Bank Locker, RBI has changed the rules, will be applicable from January 1, 2022

 RBI New Locker Rules: Under the new rules of the Reserve Bank, in case of fire, theft, building collapse or fraud on the part of bank employees, the liability of banks will be up to 100 times their annual rent.

New Delhi: RBI New Locker Rules: If you keep your valuables and important things in the locker of banks, then read this news carefully. The Reserve Bank (RBI) has changed the rules regarding lockers. These changes will have a direct impact on the customers who use the lockers. The new rules of RBI will come into effect from next year i.e. January 1, 2022. Let us tell you what are these new rules and how they are going to affect you.

1. The responsibility of the banks will be fixed

According to the new guidelines of RBI, banks will have to implement such a policy approved by their board, in which their responsibility can be fixed for the goods kept in the locker due to negligence. According to the rules, the bank will not be responsible for any loss in case of natural calamity or 'Act of God' i.e. earthquake, flood, lightning, storm and storm.

2. If theft, fraud happens, the bank will give compensation

But this does not mean that the bank is free from its responsibilities. Banks will have to ensure proper arrangements to protect their premises from such calamities. Apart from this, the entire responsibility of the security of the premises where there are safe deposit lockers will be with the bank itself. According to the new rules of the Reserve Bank, the liability of banks in case of fire, theft, building collapse or fraud on the part of bank employees will be limited to 100 times his annual rent.

3. Locker can be opened if payment is not made

If the rent for the locker has not been paid by the customer for three consecutive years, then the bank can take action on it and can open any locker following the due process.

4. Cannot store illegal goods

Not only this, according to the new rules of the Reserve Bank, banks will have to include a provision in the locker agreement, under which the locker rental customer will not be able to keep any illegal or dangerous goods in the locker.

5. Waiting list number will be released

According to the new rules of the Reserve Bank, it will be necessary for banks to send SMS and email (e-mail) of locker operations to the customers. Banks will have to provide receipt for all applications for locker allotment. If the locker is not available, the banks will have to give the number of the waiting list to the consumers. The branch wise locker allotment information and waiting list of banks will be linked to Core Banking System (CBS) or any other computerized system compliant with cyber security framework.

6. These customers will also get the facility

As per the new guidelines, the existing customers of the bank who have applied for the locker facility and who are fully compliant with CDD (Customer Due Diligence) norms can be given the facility of Safe Deposit Locker/Safe Custody Article. According to the new rule, the facility of Safe Deposit Locker / Safe Custody Article can be given to the customers who do not have any other banking relation with the bank.

7. New Rules for Shifting of Lockers

Banks will be able to shift the locker from one place to another only after informing the customer. Term deposit can be used as locker rent. The bank will have to take adequate steps to protect the strong room/vault. It will be necessary to keep the CCTV footage of entry and exit for at least 180 days.

Special things

1. Reserve Bank (RBI) has changed the locker rules of banks

2. Banks will have to give receipt for all applications for locker allotment

3. Will be able to shift the locker only after informing the customer