Bank locker agreement renewal: Big news! RBI issued guidelines regarding renewal of locker agreement; very important to know

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Bank locker agreement renewal: Big news! RBI issued guidelines regarding renewal of locker agreement; very important to know
Bank locker agreement renewal: Big news! RBI issued guidelines regarding renewal of locker agreement; very important to know

RBI Bank Locker Rules: The renewal of the locker agreement between customers and banks was to be done by January 1, 2023. But now the last date for renewal of locker agreement between customers and banks has been extended by RBI.


Reserve Bank of India: If you have also taken a locker in any public sector bank or private bank, then this news is useful for you. Yes, the rules related to lockers were changed by the Reserve Bank of India (RBI) from January 1. According to this, the locker agreement between customers and banks was to be renewed by January 1, 2023. But now the last date for renewal of locker agreement between customers and banks has been extended by RBI. Now customers can get the work related to renewal done by 31 December 2023.

Now this work can be done till December 31

This deadline was extended by the RBI because it was noticed that a large number of customers had not signed the revised agreement till January 1, 2023, which was the deadline for renewal of the agreement. . Now banks have been instructed by RBI to complete the process by December 31, 2023.

Work will be done like this

On behalf of RBI, banks have been asked to complete 50 percent work by June 30, 2023 and 75 percent by September 30, 2023. In a statement issued by the RBI, it was said that banks have been informed to make necessary arrangements to facilitate the execution of revised contracts by ensuring availability of stamp paper etc.

In addition, in cases where operations in lockers have been prohibited for non-execution of the agreement by January 1, 2023, the same will be closed with immediate effect, the circular said.