CURRENT AFFAIRS

Detailed explanation-1: -2022. Kindly ensure if not done earlier - Team PNB.” If you have rented a locker or plan to rent one to store your valuables in a bank locker, then you should be aware of the new bank locker rules laid out by the Reserve Bank of India (RBI) that came into effect on January 1, 2022.

Detailed explanation-2: -RBI has extended the deadline for banks to renew locker agreements with existing locker customers in a phased manner to December 31, 2023. The central bank has asked banks to inform all their existing locker customers about the renewal requirement by April 30, 2023.

Detailed explanation-3: -You can now sign new bank locker agreement by December 31, 2023. This is because following the delay by banks in signing a new agreement with their customers by January 1, 2023, the Reserve Bank of India extended the deadline till the end of this year.

Detailed explanation-4: -Now, while allotting lockers, banks have to enter into an agreement with the customer on duly stamped paper, with a copy being provided to both parties. The terms of the contract must not be “more onerous than required in the ordinary course of business to safeguard the interests of the bank”.

Detailed explanation-5: -Bank Locker Agreement Renewal Last Date 2023: The Reserve Bank of India has extended the last date for renewal of bank locker agreements by existing customers to December 31, 2023.