In April 2025, Reserve Bank of India (RBI) will announce some major changes in their regulations regarding bank locker services meant for better safety and transparency of the customer. These lockers, which are being increasingly used for keeping valuables and documents secure, have made safety user-friendly. Know that in detail about these rule changes.
New Locker Agreement Process
RBI has begun updating lockers agreement for all customers. Those customers who had submitted their locker agreements before December 31, 2023 will be required to sign the updated agreement by December 31, 2025. Banks will include facilities like stamp paper, e-stamping and execution through electronic means to ease the process. Apart from that, a copy of the new agreement will also be provided to the customer.
Improved Security Measures
Now it will be made mandatory under the new rules of 2025 to implement biometric systems and any advanced new security features in bank lockers. This effort aims to prevent unauthorized access to the locker and to keep customers’ assets safe. Besides these features, bank lockers now have alarm systems, restricted areas, and 24×7 CCTV surveillance.
Responsibilities Of The Customers
The new rules will require customers to make a list of the things they keep in the locker and store it in a safe place. The list will serve as legal proof during disputes and theft. The account holder must not share the locker key or password with anyone Access to the locker must also be done using security features such as biometric verification and double lock system.
Responsibilities Of The Bank
The bank will be liable to pay 100 times the annual locker rent in cases of loss of goods kept in the locker due to negligence or fraud by its employees. The clause elevates customer rights protection and accountability of the bank.
Future Prospects
The Bank Locker Rules 2025 with thus both promise a new dimension of security and transparency before customers. These rules are not only expected to enhance the credibility of locker services but will also instill confidence in the customer regarding his assets safety.
Also Read: April 2025 DA And DR Hike: What It Means For Your Salary And Pension, Check Details
