Bank Locker

Public sector banks reported no locker thefts in FY26 after 40 cases over the previous four years. RBI guidelines prescribe security standards, customer alerts and bank liability for losses

Under the RBI guidelines for banks, revised locker agreements, defining responsibilities and liabilities, must be signed and submitted to the bank branch by account holders before December 31, 2023.

The Reserve Bank of India (RBI) has asked banks to sign an updated agreement with bank locker holders citing developments in banking and technology, consumer grievances, and feedback

A bank official said that both the government and the RBI have stated that money should not be accumulated in the depositor education and awareness fund

Bank branch that has run out of lockers must put you on a waiting list

New locker rules: Now, the relationship between a bank and a customer has become that of a lessor and a lessee

People have also complained about the divergence in the value of the stamp paper required for agreement renewal

Rules for accountability and obligations enhanced after RBI mandate, say experts

The Reserve Bank of India regularly updates rules for improving the safety and convenience of the bank customers. These are the Bank locker rules that everyone should know.

While banks have security and safety systems in place, you need to insure the valuables to be on the safe side

Banks say relationship with customers with regard to lockers is that of landlord) and lessor