Updates on Bank Locker Rules
Many banks offer locker facilities. People store their sensitive documents, jewels, or any other such item—which requires great security—in this locker.
Updates on Bank Locker Rules
Many banks offer locker facilities. People store their valuable documents, jewellery, or any other such item—which requires great security—in this locker. Consequently, it is also known as Safe Deposit Locker.
Though many believe they can keep everything in the bank, the Reserve Bank of India forbids some items from being kept there per policy. Share with us the updated Reserve Bank of India policies.
One can keep what in a bank locker?
The Reserve Bank of India claims that bank lockers are only for authorised use. One can keep valuable items including documents and jewels in there. In the locker, these objects of yours are absolutely safe.
Items that should not be kept in a bank locker
- First of all, you cannot store cash or money in the locker per State Bank of India’s website.
- Apart from this, no bank locker can store guns, explosives, drugs.
- Should something is deteriorating, it likewise cannot be stored in the locker.
- A bank locker cannot contain any radioactive material, any unlawful item, or anything else forbidden by Indian law.
- A bank locker cannot hold such material, which could endanger the bank or any one of its patrons.
Locker for banks opens with two keys
Opening a bank locker calls for two keys. One important is with the consumer; the other with the bank management. The locker will not open unless both the keys are used.
The concern now is, should you misplace the key to the bank locker, what happens? The guidelines for bank locker are what? Allow us to know.
- First of all, you have to tell the bank about misplaced key for the bank locker.
- An FIR has to be filed for the key loss as well.
Should the key from your bank locker disappear, two events could follow:
- The bank replaces the key for your locker. The bank will so get a duplicate key produced. Getting a duplicate key created, though, runs the danger of the person who created the duplicate key of that locker acting inappropriately in the future.
- The original locker will break while the bank issues you another locker. All of the locker’s contents will be moved to another locker following break-through, and the client will get its key. The buyer might have to pay all the costs from damaging the locker to getting it fixed once more, though. Under such circumstances, try to keep the key somewhat precisely.
In what way is the locker broken?
The bank locker is set such that, from opening it till breaking it, the customer and the bank officer are always present during every operation.
- The bank manager also visits the locker area with a customer whenever he needs to access his locker in the bank.
- Two keys find usage in the locker there—one with the bank; one with the consumer.
- The locker won’t open without both of the keys used. The bank officer exits the room after the locker is unlocked, allowing the client to see, change or remove the items held in the locker under total anonymity.
Likewise, both the bank officer and the customer must be present there should a bank locker break.
- Should the locker be taken jointly, all the members should be present there.
- Should the client write stating that the locker can be broken even in his absence, the locker can be damaged without the customer, and the contents can be transferred to another locker.
When may the bank break the locker on its own?
- Should someone have a criminal case against him and it appears that he has concealed something in his locker that would be connected to the crime, the locker can be opened.
- In this scenario, meanwhile, police authorities are also needed in addition to bank personnel.
- SBI claims that the bank can get its money back by breaking open a locker should a person neglect to pay the rent on his locker for three years.
- The bank can still break into the locker even if the rent keeps flowing if the customer’s locker is in-operable for seven years and there is no indication of the customer.
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