BANKING & FINANCE:
Reserve Bank of India extends time for Bank Locker Renewal Agreements till Dec 2023
- The Reserve Bank of India (RBI ) extended the time for banks to renew their customer agreements for locker facilities to December 31, 2023, due to compliance delays.
- The previous deadline was January 1, 2023, communicated through a circular on August 18, 2021.
Key Highlights :
- The deadline has been extended to December 31, 2023, for renewals in a phased manner, with 50% completed by June 30, 2023, and 75% by September 30, 2023.
- To facilitate the execution of the revised agreements, the banks have been advised to make arrangements, like ensuring the availability of stamp papers, etc.
