Team Blitz India
NEW DELHI: Users of lockers will have to sign a fresh agreement with their respective banks, with the Reserve Bank of India asking for revisions in the existing document.
The revised safe deposit locker agreements now clearly specify that lockers can be used only for legitimate purposes such as storing jewellery and documents and not for storing any cash or currency, arms, weapons, drugs, contraband, or hazardous substances.
The license granted to use the locker is only for the customer’s own use and is non-transferable.
The agreements, which are based on the Indian Banks’ Association’s model agreement, state that the customer will be responsible for the misuse of the key to the locker provided by the bank or the password generated for having access to the locker. The bank will not be responsible for any unauthorised use of a key or password.
