Must know these rules if you planning to open a Bank Locker or are in possession of an existing one

Are you planning to open a locker in your nearest Bank in order to keep your valuables safe from any mishaps? If yes, you must know that the RBI (Reserve Bank of India) has implemented new rules when it comes to the locker system in Banks. The Banks that offer locker system for their customers need to abide by the rules set by RBI so that the safety of the customers is ensured.

The new rules form Bank locker has been effective from January 1, 2022. The rules have been mentioned below in details. Take a look on the bank locker rules and stay updated about the same.

Users will get a huge compensation in case of theft

In case there is a theft in a bank and the valuable items stored in the locker are stolen, the bank will have to pay 100 times the rent of the item stored in the locker. This roughly means that the banks will have to improve the security that is present in their branch.

CCTV protection

According to the guidelines by RBI, there must be CCTV cameras to monitor the locker rooms. The bank has to keep the CCTV footage for a period of 180 days. If any mishap happens in the bank, the stored footage will be helpful in the investigation process.

Customer complaints

In case a customer files a case of theft or disturbance in the locker of a bank, the bank should store the footage till the police investigation is completed.

Alerts and notification

Whenever a user accesses the locker, he/ she will receive an alert or notification through SMS or e-mail. RBI has made it mandatory for a bank to send alerts or notifications through SMS or e-mail in case of activity in the locker.

Empty locker information

The information about empty lockers should be made public and the Banks cannot keep the information to themselves. The RBI has made it mandatory to pass on information about empty bank lockers to its customers. In case of unavailability, the customers can be intimated about the waiting period for the locker.

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