Bank lockers are closed in a hurry!?
Why do people close bank lockers? Are the regulations effective from january 1 really detrimental to people? 36 percent of locker users have closed bank lockers as bank charges continue to rise. 16 percent are switching to smaller lockers. Do you have a locker in any bank? If yes, this message is important to know. Due to increasing KYC hassles and locker charges, more than half of bank locker holders are considering closing it. This information is revealed from a recent survey of bank customers. According to the ongoing survey report, some customers are switching from large lockers to smaller lockers.In a survey of over 11,000 people, 36 percent of locker users said they have closed their bank lockers due to continuous rate hikes by banks. Additionally, sixteen percent reported switching to smaller lockers. Additionally, four percent said they were considering closing their lockers. New regulations for bank security lockers come into effect from january 1. Earlier, banks advised the customer to come to the branch with the necessary KYC documents for paperwork and sign the new agreement. Also, it is said that the locker fee has increased.Customers will have to sign a new locker agreement with their bank by december 31. Due to the increase in locker fees, 56 percent of locker owners surveyed changed their locker decisions in the last three years. A new contract must be signed by december 31. The RBI recently extended the deadline for signing the bank Locker Agreement till december 31, 2023. Earlier, customers were told to sign contracts by january 1, 2023. According to the new rule, banks and customers must clearly specify in the contract what kind of items can be kept in the locker.
Banks have started charging new types of charges from those availing locker facilities for depositing valuables in banks. Similarly, under the new rule, if a person keeps his belongings in a bank locker and it gets damaged, the bank will be liable to pay the damages.
What is the rule of the Reserve Bank?
The bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india has made several changes to the new bank locker rules. According to the new rule, if a person keeps his belongings in a bank locker and it gets damaged, the bank will have to pay the damages. The bank has to pay up to 100 times the annual rent of the locker. Similarly, if an accident like fire or theft happens in the bank, the bank itself will compensate the loss caused to the customer.