Bank Locker New Rules: Banks are about to undergo a major overhaul regarding bank lockers, which are used to keep your valuables safe. India’s Finance Ministry has announced several major changes to the banking system, effective November 1, 2025.
These include changes to the rules for everything from bank accounts to locker maintenance, and new regulations.
In fact, a total of five laws have been amended during this period. These include changes related to everything from bank accounts to your locker. So, let’s explore the new bank rules and the changes to bank locker rules.
Locker rules
It is believed that the changes made in the banking system will prove to be very helpful for people. Meanwhile, the rules related to bank lockers have also been changed. Under the new rules, the locker owner will now be required to provide a priority list, which will indicate who can open the locker after their death. Nominations for bank lockers can only be made one by one, meaning only four names can be registered for valuables such as jewelry and documents. However, it is important to note that these four names will appear one after the other, meaning only one person will be able to open the locker. This is to resolve disputes and simplify the process. Now, only one person can open the locker at a time, eliminating any confusion or delays.
Why were the changes made?
There are several key reasons behind the changes to bank regulations. Customers can now easily assign a fixed percentage of their savings to each nominee, bringing the total to 100 percent. This will make the entire process transparent and easy. Furthermore, the Banking Company Rules 2025 will be issued soon. Under these rules, all banks will specify the process for nomination, rejection, and other forms, and the process will be the same across all banks. The primary objective is to strengthen banking, increase security, and provide quality banking services.
