SC asks RBI to frame new banks' locker facility within 6 months

Updated : Feb 20, 2021 09:40
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Editorji News Desk

The Supreme Court has directed the Reserve Bank of India (RBI) to lay down regulations within six months mandating the steps to be taken by banks with respect to locker facility management. banks "cannot leave their customers in the lurch" by claiming ignorance of the contents of their lockers, the Supreme Court said.  The apex court said people are hesitant to keep their liquid assets at home, thus, as is evident from the rising demand for such services, lockers have become an essential service provided by every banking institution. Laying down strict guidelines, the court said that the rules will operate till the central bank comes up with new regulations.

RBIBankSupreme Court

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