Bank Lockers: The Reserve Bank of India (RBI) has advised customers using bank lockers to be fully aware of the rules. More days ..
Bank Lockers: The Reserve Bank of India (RBI) has advised customers using bank lockers to be fully aware of the rules. Banks say they can open customer lockers themselves if they do not open the locker for more days. Bank lockers are commonly used to keep jewelry and important documents safe. Most people do not care about these once they are stored. But the rules require you to visit the bank lockers at least once a year. Or you can open your bank locker. The officer will be with the banks, the RBI said. Banks give some time to low risk (low risk) customers. But those in the medium risk category will be sent a bank notice if they do not open the locker for three years.
Allocation of lockers to clients ..
Lockers, however, are not assigned to everyone who applies. Banks take a number of factors into consideration. Banks generally classify their customers into a total of three risk categories. For this, economic conditions, social background, nature of business activities, area where customers reside etc. are taken into consideration. Based on this, the bank divides its customers into High Risk, Medium Risk and Low Risk categories. Allocate lockers to them accordingly.
If the locker is left unopened for several days ..
However, the bank will send a notice to the customers if the lockers are not kept open for more days. Notices sent by banks to continue the locker facility, or to surrender. Customers are required to inform the bank in writing why the locker has not been operated for several days. The locker facility will continue if the bank believes that the reasons stated by the customers are true.
The bank may allow maternity Indians, those residing in other areas on transfer of employment and those who are not in the city for any other reason to continue the locker facility. The bank will cancel the locker facility if the customer does not respond correctly to the bank notices. Even if customers pay all the fees related to the locker, they can be canceled if they are not opened on time. That locker can be assigned to someone else. The bank also follows certain rules when opening lockers that are assigned to customers and subsequently canceled. Informs the client that the proper procedure has not been followed. However these terms are part of all agreements when clients request locker facility.
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