SC directs RBI to lay down regulations in six months for locker facility management in banks indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
The Supreme Court on Friday 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.
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.
The Supreme Court on Friday ruled that banks cannot break open lockers without written notice to locker holders. The top court has asked RBI to lay down regulations within six months from the date of judgement
Supreme Court directs RBI to frame new bank locker rules within six months
The judgment came on an appeal filed by Kolkata resident Amitabha Dasgupta against an order of National Consumer Disputes Redressal Commission. (Image Source: File/Agency)
Updated: Feb 19, 2021, 11:27 PM IST
The Supreme Court of India on Friday directed the Reserve Bank of India (RBI) to lay down new regulations on the locker facility management within six months, mandating the steps to be taken by banks across the country. A bench comprising Justices Mohan M Shantanagoudar and Vineet Saran said that each bank is following its own set of procedures and there is no uniformity in the rules.