RBI introduces BIG changes to bank locker rules: 5 important things to know
New bank locker rule changes will provide better confidence to customers planning to open lockers in banks.
New Delhi: The Reserve Bank of India has introduced new rule changes to bank locker rules in a bid to provide more security to customers. The new rules provide more safety to customers planning to open a locker at a nearby bank branch.
So, if you are thinking to open a locker in a bank, you must know about the recent rule changes that provide more confidence to customers. The recent RBI rule changes have come into effect from January 1, 2022.
Banks to provide BIG compensation in case of theft
In what could be a major motivation for customers planning to open lockers in banks, the RBI had announced that the lenders will have to compensate the customer 100 times the rent of the locker in case of theft. The move will mean that banks will have to tighten their security protecting bank lockers.
Banks to provide CCTV protection
Banks have also been directed by the RBI to monitor locker rooms, meaning that your lockers will be under added protection. Banks also have to store the CCTV footage for 180 days. The decision will help in assuring full safety and in case of any mishappening, it will help in the investigation process.