Sealed

Can the locker be sealed

Banks have spent the past couple of years getting customers to sign revised locker agreements; if you haven't signed, you risk the locker being sealed or access being restricted until you comply. The critical fine print is that banks do not insure what you keep inside. . If you have rented a locker at any public or private bank in India to store jewellery, cash, or other valuable items, this update is for you. Banks are seeking authorization to issue final notices and seal lockers for non-compliance, as the RBI monitors adherence to updated. . The Reserve Bank of India has enforced newer guidelines to ensure transparency and consumer protection regarding bank lockers. This rule came into effect from January 1, 2023 and the customers were given time till December 31, 2024 to comply. .

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