What can be kept in bank locker and what can't? All you need to know

4 months, 1 week ago

What can be kept in bank locker and what can't? All you need to know

India TV News

Banks are always regarded as the safest place for financial transactions - be it fixed deposits, financial transactions or bank lockers. The bank provides a locker agreement, usually refundable, that both parties must sign. However, there are a few rules of what can be kept and what not in the locker What can be stored in bank lockers? For protection, jewellery made of gold, silver, diamonds, and other precious metals, coins, and bullion are frequently kept in lockers.

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History of this topic

Bank locker rules 2024: What you can and cannot store in SBI, HDFC, Bank of Baroda, and ICICI Bank lockers

4 months, 1 week ago

Bank locker rules 2024: What you can and cannot store in SBI, HDFC, Bank of Baroda, and ICICI Bank lockers

Live Mint

Bank lockers provide a safe and secure way to store valuable items. Items that cannot be stored in bank locker: Common restrictions across all banks Possessing weapons, explosives, drugs, or any other type of contraband is strictly forbidden. Here's a breakdown of what can and cannot be stored in a bank locker SBI locker agreement Only for legitimate purposes such …

Should you get a bank locker as RBI standardises bank locker rules?

3 years, 6 months ago

Should you get a bank locker as RBI standardises bank locker rules?

Live Mint

The Reserve Bank of India on August 18 issued revised instructions on safe deposit locker and safe custody article facility provided by banks. Now, let's take a look at RBI's new guidelines for bank lockers Locker Rent Banks may face potential situations where the locker-hirer neither operates the locker nor pays the rent. Compensation Policy / Liability for Banks The …

Ditch that bank locker, it is unsafe; go for home safes, insurance instead

7 years, 9 months ago

Ditch that bank locker, it is unsafe; go for home safes, insurance instead

Firstpost

The Britishers, from whom we inherited these, have almost done away from such safe deposit lockers from their banks; it’s time for Indians to ditch them too An RTI query by a lawyer has revealed something really shocking for many Indians: Banks will not compensate for loss of your valuables kept in their lockers. It’s a well-known fact that most …

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A Bengaluru startup wants to disrupt bank lockers and their waiting lists

1 month, 1 week ago

A Bengaluru startup wants to disrupt bank lockers and their waiting lists

Live Mint

Getting a bank locker in India is not easy, as anyone who has tried to have a new one assigned to themselves will attest. Firstly, many bank branches simply don't offer lockers anymore, and of the ones that do, most have years-long waiting lists. A Bengaluru-based startup, Aurm, founded by former MyGate CEO Vijay Arisetty, is solving this in a …

Security Bengaluru Access Bank System Step Locker

Why every gym-goer is now a target of 'Rolex ripper' watch and wallet thieves: New ingenious trick involves soaking your phone and using locker to hack your bank account. Special investigation by STEV

2 months ago

Why every gym-goer is now a target of 'Rolex ripper' watch and wallet thieves: New ingenious trick involves soaking your phone and using locker to hack your bank account. Special investigation by STEV

Daily Mail

When reinsurance broker Henry Spencer was paid his first bonus in 2019, he celebrated with a 'landmark' purchase: a Rolex watch. Henry's watch and ring were taken at the luxury gym Third Space – where membership costs £230 a month and lockers can be rented for up to £75 a month. Crafted from silver oystersteel with a £4,500 price tag, …

London Bank City Phone Cctv Henry Watch

Bengaluru bank manager’s gold and cash stolen from her own locker, case filed: Report

Trending News

2 months, 1 week ago

Bengaluru bank manager’s gold and cash stolen from her own locker, case filed: Report

Hindustan Times

A 32-year-old bank manager from West Bengaluru was left stunned after discovering that her gold ornaments, stored in a locker at her workplace, had gone missing. The gold ornaments, weighing approximately 250 grams and valued at ₹ 20 lakh, were missing from the locker. To her shock, only the documents were found in the locker, while the gold ornaments, weighing …

Bank Key Locker Basaveshwaranagar

Jewellery worth over ₹13 lakh stolen from cooperative bank locker

2 months, 3 weeks ago

Jewellery worth over ₹13 lakh stolen from cooperative bank locker

Hindustan Times

In a shocking incident, gold and silver jewellery worth ₹1,359,401 kept in a locker at a reputed cooperative bank’s Nana Peth branch has been allegedly stolen by unknown person/s. The police revealed that the woman, along with her sister-in-law, had a locker at the Nana Peth branch of a co-operative bank, where they stored jewellery worth ₹1,359,401. The woman first …

Bank Locker Nana Peth

Security breach at Lko’s Bank: “If bank lockers aren’t safe, where can we go,” locker holders

3 months, 1 week ago

Security breach at Lko’s Bank: “If bank lockers aren’t safe, where can we go,” locker holders

Hindustan Times

“If even bank lockers aren’t safe, where can we go?” questioned Ankit Asthana, a victim of the shocking heist at the Chinhat branch of Indian Overseas Bank. The incident has not only stripped locker holders of their precious belongings but also eroded trust in the bank’s ability to provide security. Despite paying ₹2,400 annually for the locker, the bank’s security …

Bank Fir Locker Bank Lockers Locker Holders

Explained | RBI’s revised guidelines for locker management

2 years, 2 months ago

Explained | RBI’s revised guidelines for locker management

The Hindu

The story so far: In order to enhance the safety, transparency and effective management of safe deposit lockers provided by banks, apex banking regulator Reserve Bank of India released a list of revised guidelines, which came into force from January 1, 2022. Banks cannot, however, demand ‘term deposits’ from existing locker holders or those who have “a satisfactory operative account”. …

Management Safe Rbi Customer Locker Required Contents

RBI's revised bank locker rules to be effective from January 1. Check details

2 years, 3 months ago

RBI's revised bank locker rules to be effective from January 1. Check details

Hindustan Times

The Reserve Bank of India has mandated banks in the country to renew their locker agreements with existing locker customers by January 1. Reserve Bank India Model Locker Agreement The central bank has directed all lenders to use the Indian Banks’ Association IBA-drafted Model Locker Agreement, in line with the Supreme Court’s orders and guidelines. According to the guidelines, if …

Bank Guidelines Agreement Cctv Rbi Banks Deposit

Bank Locker New Rules: Banks to Pay 100 Times of Locker Rent as Penalty for Loss, Others

2 years, 11 months ago

Bank Locker New Rules: Banks to Pay 100 Times of Locker Rent as Penalty for Loss, Others

News 18

The Reserve Bank of India has issued a notification regarding new bank locker rules, and if you are planning to open a bank locker soon you should be aware of them. Banks to Compensate 100 Times the Locker Rent: Under the new rules, banks will be asked to pay the customer in case there is a loss of content from …

Cctv Rbi Banks Rent Locker 100 Times Rules Bank

$Bank staff \'locks up\' 89-yr-old man; saved next morning$

3 years ago

Bank staff \'locks up\' 89-yr-old man; saved next morning

Deccan Chronicle

Hyderabad: An octogenarian had a providential escape after he was unwittingly kept overnight in a locker room of the Union Bank’s branch near Jubilee Hills Checkpost. He was discovered lying on the floor in the locker room on Tuesday morning when, after some fuss, the bank staff opened the locker door at 10.30 am. In the morning, one of the …

Bank Man Reddy Room Locker Jubilee Hills Krishna Reddy

RBI Revises Bank Locker Rules - Know All About Rentals, Safety, Digital Framework & More

3 years, 7 months ago

RBI Revises Bank Locker Rules - Know All About Rentals, Safety, Digital Framework & More

ABP News

New Delhi: Planning to get a safety deposit locker in a bank? The Reserve Bank of India has recently revised its guidelines on safe deposit locker and safe custody article facility provided by banks. The changes in guidelines for 'Deposit Locker/Safe Custody Article Facility' provided by the banks came after the central bank took into consideration various developments in the …

Bank Safe Rbi Banks Rent Deposit Locker

Frame new bank locker rules within 6 months: Supreme Court directs RBI

4 years, 1 month ago

Frame new bank locker rules within 6 months: Supreme Court directs RBI

India TV News

The Supreme Court on Friday said the present state of affairs on management on bank lockers is inadequate and muddled, and there is no uniformity in rules as it directed the RBI to lay down regulations, within six months, for steps necessary for banks on this issue. It is imperative that the court lays down certain principles which will ensure …

Supreme Court Court Rbi Banks Bank Locker Lockers

Banks Duty-Bound To Exercise Due Diligence In Maintaining And Operating Their Locker Facility: Supreme Court Issues Guidelines

4 years, 1 month ago

Banks Duty-Bound To Exercise Due Diligence In Maintaining And Operating Their Locker Facility: Supreme Court Issues Guidelines

Live Law

The Supreme Court observed that the banks owe a duty of care to exercise due diligence in maintaining and operating their locker or safety deposit systems and that they cannot contract out of the minimum standard of care in this regard.The banks cannot wash off their hands and claim that they bear no liability towards their customers for the operation …

Consumer Court Consumer Protection Act Bank Care Rbi Banks

‘Banks need to create robust security systems’

5 years, 4 months ago

‘Banks need to create robust security systems’

The Hindu

The need for banks to upgrade security measures and put effective risk assessment measures in place was discussed at a conclave in Mumbai on Monday. This will not only protect the valuables that consumers trust the banks with but also the reputation that they have built over the years,” said Rakesh Patney, chief security officer, Bank of India. BIS spokesperson …

Security Bank Bis

Banks won't compensate you for burglary or theft of your valuables in lockers, reveals RTI query

7 years, 9 months ago

Banks won't compensate you for burglary or theft of your valuables in lockers, reveals RTI query

Firstpost

The unanimous reason given by 19 banks is that “the relationship they have with customers with regard to lockers is that of lessee and lessor ”. New Delhi: Do not expect any compensation for theft or burglary of valuables in safe deposit boxes of public sector banks as the locker hiring agreement absolves them of all liability. According to the …

Bank Banks Rti Deposit Locker Cci

Banks need safer locker systems

17 years, 1 month ago

Banks need safer locker systems

Hindustan Times

Given the apathy shown by most Indian banks towards safety and security, bank robberies are not very rare these days. HT Image Similarly, in Ludhiana, following a robbery at a branch of Oriental Bank in September last year, the police had undertaken a survey on bank security and found that most banks there did not have functional alarms, CCTVs or …

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